Dr Ann-Veruschka Jurisch, Head of Philanthropy and Foundations at Spectrum Value Management, examines trends in European philanthropy, particularly the rise of philanthropy services within family wealth management practice
Family Wealth Management and Philanthropy Services "Giving back" is as important as wealth preservation and value generation for most European business families. The expansion of philanthropy services within single family offices - non-bank wealth management service providers for business families - demonstrates this importance. A 2008 survey of European single family offices found that over 62 percent of the participating European family offices offered philanthropy services and that another 14 percent were planning to add these services within the next three years. Figure 1 illustrates this trend. Note that in most cases, family office philanthropy services have nothing to do with the business's corporate social responsibility activities and are only involved with the private philanthropy of the business family.
Over one percent of the Swiss population have participated in this one-week intensive training in basic economic and managerial know-how delivered by a "real" entrepreneur coming to the school.
[This article has been reproduced with permission from the Indian School of Business, India]