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Charity financial products have the edge for consumers, says report

Howard Lake | 6 October 2003 | News

The giving campaign Charity financial products

Thirty per cent of people would choose to invest in a charity financial product, over
a regular financial product, says a report from The Giving Campaign.
The survey, conducted by NOP research, reports a high level of demand amongst consumers for charity financial products – financial products that allow the individual to donate a to charity, often offering
generous tax relief (e.g. Charity ISA).
The research indicates that approximately 30% of people would choose to invest in a charity financial product over a regular financial product where all the return goes back to the investor.
Younger people were particularly attracted to this kind of product. According to the research:

Phillip Mind, Acting Director of The Giving Campaign, says: “The development of charity financial products presents charities with a great opportunity to tap into the large-scale distribution channels of the financial sector, attracting new donors at low cost. When you consider that
the financial services industry of investment and life products alone has
monetary flows of more than £85 billion per year – if even a small percentage of these flows were channelled to the voluntary sector, just imagine what a big impact this could have on charities income levels. In
the US, as much as 40% of all income to charities comes through such products and our research shows that consumer demand in the UK is high.”
The Giving Campaign has just produced a new report on this area, ‘Charity Financial
Products – A New Approach to Giving’. The report summarises the work undertaken by a group of key individuals from the financial and voluntary sector, examining the charity financial product marketplace in the UK. They highlighted the following benefits for charities:

The Giving Campaign is working to encourage further development of charity
financial products in the UK, aiming to create a culture where it is normal
for individuals to consider charity within their overall financial planning.


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