In today’s webcast we talk to Etienne Eichenberger, co-founder and executive director of WISE, a leading company in the field of philanthropy advice to high net worth individuals (HNWI), wealthy families and banks. Philanthropy is high on the agenda of many private banks, because (U)HNWIs increasingly demand professional services in this field, which banks cannot provide alone.

Listen to what private banks must know about philanthropy in the webcast with Etienne online:

Interestingly, Etienne outlines how philanthropy investments are very similar to portfolio management. He shows in a concrete example how WISE worked with a wealthy family, which they were introduced to by a private banking partner.

In addition, the webcast gives some useful insights into a philanthropy study that WISE conducted with other organisations. They analyzed the needs of over 30 wealthy families with 100+ mio in assets. Conclusions are:

• families want to have fun giving
• it’s hard to find good advice in philanthropy
• we have to consider two type of impacts: in the field and the rewards for the families
• philanthropy is about networks of donors engaging together to leverage knowledge

Finally, we asked Etienne what a CEO of a private bank would have to consider if he wanted to strategically engage in philanthropy with clients. Watch the webcast to learn more.

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