Financial Advisers Give 'Good' Advice
Howard Lake | 28 April 2004 | News
New NOP World research , commissioned by The Giving Campaign, indicates that one quarter of financial services professionals are now giving advice to clients about the tax implications of their charitable donations (up from 18% in 2001).
The findings suggest that although the majority of advisers would be ‘comfortable’ giving advice on legacies (80%) and Gift Aid (64%), only 29% are comfortable talking about Share Giving. Donors who give shares to charity are entitled to full income and capital gains tax relief, meaning a donation of £100 shares would cost a donor only £60. Share Giving is worth more than £150 million for charities each year, generating tax relief of £60 million pounds for donors who give in this way
Amanda Delew, Director of The Giving Campaign, comments:
“It’s great to see that advisers are increasingly talking to clients about their giving, helping to position charity as an issue for consideration within the financial planning process. Awareness about legacies and Gift Aid seems to be spreading fast, but I am disappointed to see that so few advisers are up to speed with how Share Giving works. After all, it is undoubtedly one of the most generous tax breaks advisers can offer their charitable clients.”
Speaking about the increased awareness of legacies, Theresa Dauncey, Director of Legacy Promotion Campaign, adds:
“It is great to hear that so many advisers are giving advice on the crucial area of legacy giving. Our message that supporting the Campaign is an opportunity for financial advisers to improve client service while helping charities provide the services on which we all depend, is obviously getting through. ”
The survey, a repeat study of research initially conducted by MORI in 2001, found that advisers are increasingly the ‘driver’ in raising the issue of giving money to charity. In 2001, the majority of advisers (56%) said that clients were significantly more likely to prompt this discussion, but in the recent survey 34% advisers said that clients usually play the lead role and 45% answered that both (clients and advisers) were equally likely to raise this issue.
For further information, or to order a copy of ‘Giving Good Advice’ contact
The Giving Campaign on 020 7930 3154 or visit www.givingcampaign.org.uk
ENDS
Media Enquiries
Lucinda Gould 020 7930 2629 / 07712 045 308
The Giving Campaign
lu***********@gi************.uk
Notes to editors
• The Giving Campaign
The Giving Campaign has been established to encourage a culture of giving and to increase the amount of money given to UK charities. The Campaign has Government and voluntary sector support for its aim to increase charitable giving in the UK.
• Legacy Promotion Campaign
The Legacy Promotion Campaign is backed by a consortium of 116 charities to raise awareness of charitable donations in wills. Please visit www.rememberacharity.org.uk for a full list of member charities or call 08081 80 20 80 to receive further information about the Campaign.
i. NOP World online research survey of 202 financial services professionals (member of APCIMS, AIFA and SOFA).
ii. MORI survey (qualitative and quantitative data) collated during August and September 2001
| Giving Good Advice.pdf | 257.3 KB |
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About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.