Despite what many believe, you don’t have to be super-wealthy to be a philanthropist. Smaller but targeted donations to a charity are just as important and welcome. These days, there’s a growing trend for members of the public who have generated wealth through a successful business venture, investments, or a windfall, to consider donating to good causes.
Before you set out on your philanthropic journey, let’s establish what philanthropy really is.
Philanthropy attempts to address the root cause of social issues and provide a business-focused sustainable plan that requires a more strategic, long term approach.
Philanthropists provide a variety of resources, not just financial, that enables an organisation with charitable objectives to achieve those aims.
Donor Advised Funds (DAFs) serve as a vehicle for charitable giving whilst offering administrative convenience, tax benefits and cost savings.
Wealth Matters arrange to set up DAFs under the Together Charitable Foundation (TCF), a registered charity that has been established to promote efficient, economic and effective philanthropy within the financial planning community.
Each fund is effectively its own charitable trust, but without the costs and administrative issues. The funds within a DAF can be donated immediately or invested until ready to do so, enabling the funds to benefit from potential growth and allowing you to grant more to charities in the long run.
Philanthropy is an important part of our ethos, so you won’t be surprised to learn that we have launched our own donor-advised fund: the Wealth Matters Charitable Foundation.
Download our Donor Advised Funds guide now and take your first step toward financial freedom.
£10,000 to date
Oracle Cancer Trust
In 2017, one of our team was diagnosed with throat cancer. Since then, we have supported Oracle Cancer Trust which is dedicated to funding research into head and neck cancer. It is totally reliant on charitable donations.
We are also sponsoring a PhD student who is carrying out ground-breaking research into saliva cancer with them.
£6,000 to date
Rennie Grove Hospice Care
We’re corporate sponsors of Rennie Grove Hospice Care; a charity that provides specialist care and support for adults and children throughout Bucks and West Hertfordshire, diagnosed with cancer or another life-limiting illness.
The organisation provides a unique Hospice at Home service and a range of day services to support patients and their families.
£5,000 to date
Round Table
We’re active supporters of Harpenden Round Table, an organisation that carries out a wide range of fundraising activities and community service projects.
Its primary aim is to raise money for local charitable causes and give something back to the community.
£1,000 to date
Woodland Trust
Just as we help people protect their assets, the Woodland Trust does the same for our natural environment.
As the UK’s largest woodland conservation charity, it works to protect the UK’s woods, plant trees, and restore ancient woodland for the benefit of wildlife and people.
£3,435 to date
British Heart Foundation
The British Heart Foundation fund around £100 million of research each year into all heart and circulatory diseases and the things that cause them. Heart diseases. Stroke. Vascular dementia. Diabetes. They’re all connected, and they’re all under BHF’s microscope. The Foundation raises money to research cures and treatments, to give people more time with the ones they love.
In addition to our Wealth Matters Charitable Foundation, we have also committed to an in-house philanthropic scheme for our staff. Every month, we donate funds to a charity nominated by one of our colleagues, as well as a larger grant to a worthy cause chosen by the winner of our Employee of the Year Award.
We also support our staff with philanthropic ventures in other ways, such as spending time in the community. Work this year included helping out at Golders Hill Park Zoo, giving up free time to help at Harpenden Carnival and a number of our advisers are providing free financial education in school.
A recent visit to Lord’s for cricket training with Sir Andrew Strauss and John Emburey for a number of our clients saw them and Wealth Matters making a £500 donation to the Ruth Strauss Foundation.
“Dear Julian, thank you for very much for your generous £500 donation to the Ruth Strauss foundation. We really appreciate your ongoing support. We had an amazing #redforruth 2022, with Lord’s cricket ground being the reddest it has ever been! With your help, we will be able to make professional, emotional support available to more families facing the tragedy of a death of a parent. This support will change lives.
Thanks again from Andrew & the whole RSF team!”
Many of our clients have charities that mean a lot to them. Some make regular donations throughout their lifetime – or decide to leave a legacy donation in their will. If this is something you would like to do, talk to us, and we’ll ensure you are using the most effective and tax-efficient methods that are available to you.
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