More of the wealthy keen on giving, Barclays finds

The number of wealthy individuals wanting to give to charity is on the rise, figures from Barclays suggest.

The bank's expert advisory arm, Barclays Wealth, has record-ed a 50 per cent increase in the number of its clients interested in philanthropy.

The service, which advises high net worth and intermediary clients about acquiring and using their wealth, said that its clients increasingly wished to support charities by setting up family foundations and formal business structures.

"The number of talks we are having with clients about getting involved in charity has increased dramatically," said Guy Davies, head of charities and philanthropy at Barclays Wealth.

"That is partly because we are more focused on the area, and there is a lot more activity and media coverage, which encourages people to get involved.

"Once people are in the mindset of giving, they are more comfortable with giving through a formal structure. We have definitely seen a marked interest in the idea of family foundations."

A Charity Commission spokeswoman estimated that about 60 family foundations had been set up in the past year.

Research into the giving habits of the rich released by Barclays Wealth earlier this month revealed that parents increasingly use philanthropy as a framework to instil values and skills in their children (Third Sector Online, 7 September).


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