FEATURES | GIVING
Is giving the new getting? Daniel Smith investigates philanthropy and the interesting ways it can be incorporated into financial plans.
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iving is on the rise. No longer is it the sole responsibility of the adviser to generate wealth, but also to find ways to allocate that wealth through gifts. Whether through charitable donations, trusts or investing on behalf of beneficiaries, philanthropic giving is on the rise. According to Liz Gibbs, head of philanthropy at Perpetual Guardian, it is important to understand the deeper meaning of philanthropy. 22 | ASSET 04 | 2021
“It is generosity. Usually, it means people donating money, but it can also include contributions of time, expertise, of engagement.” Gibbs’ work sees her managing over 600 charitable trusts and helping to distribute the funding generated by those trusts for charitable purposes. “One of our clients donated funds to build an online governance learning platform so that charities can help build their governance capability. It is not
always just giving grants, it is often giving access to knowledge and technology.” Importantly for Gibbs, is that philanthropy is becoming a key part of financial conversations. “Philanthropy as a part of estate planning is certainly on the rise. Philanthropy NZ have done research which shows that between 2004 and 2014 the value of philanthropy in New Zealand rose from $1.4 billion to $2.65 billion. Since then we have seen that continue to increase.”
