Professional Advisors and Philanthropy - Survey

A new study is being undertaken as part of the QUT Business School’s research program into the willingness of professional advisers to discuss philanthropy with their clients.

It is the fourth study by the Australian Centre for Philanthropy and Nonprofit Studies (ACPNS) of Australian professional advisers since 2002. 

“While Australians generally are quite generous, Australia’s wealthy (on average) are not donating as much to charities as their counterparts in the US, UK and Canada, despite their wealth growing at a much faster rate than their level of donation,” according to researchers Stephanie Boldeman and Dr Wendy Scaife.

“We know that professional advisers can play a key role in facilitating wealthy clients’ charitable giving and there is an increasing trend since 2002 among Australian advisers to include philanthropy in their suite of services for wealthy clients,” they said.

“In recent Australian research, wealthy people involved in philanthropy identified a number of significant areas where professional advisers could assist them.
 
“In this context, this project will continue to analyse trends in Australian professional advisers’ views about philanthropy and about assisting clients to engage in charitable giving.”

Specifically, the are seeking advisers’ views on:

• What role do professional advisers play in helping Australia’s high-net-worth individuals to donate to charitable causes?
• What are the reasonable limits to professional advisers’ roles in advising clients in this area?
• What are the constraints and barriers to providing philanthropic advice to clients and how might these be overcome?

“We are interested in professional advisers’ views whether or not they personally engage in philanthropy or currently advise clients about philanthropy. Advisers may be working with clients on issues such as tax, accounting, financial planning, legal matters, estate planning, trusts, banking, wealth management or other medium to long-term financial matters.
 
“With advisers’ help, we can understand advisers’ priorities and any barriers that exist in providing advice about philanthropy. Importantly, the research can identify the most helpful resources and support for advisers, where these may be required,” they said.

Apart from the online survey, the researchers are also inviting representatives of Australian professional associations (such as the Law Society and CPA Australia) to participate in interviews, to glean their views about philanthropy and members’ practices in assisting clients with their charitable giving.
 
A report analysing the results of this research project will be available free-of-charge from QUT e-Prints and the ACPNS website in late 2014
 
Professional advisers in Australia can have their say on these issues by completing an online survey that will take up to 10-15 minutes. To access the survey, go to:
http://survey.qut.edu.au/f/180040/4e9a/
 
Responses will close on 31st May 2014.