‘The philanthropy boom’ and the fast-changing role of professional advisors

Eleanor Cater
CEO (Acting)
5 September 2025

I was on a panel this week where we presented to Chartered Accountants (670 of them!), across Australia and New Zealand. We had other guests join as well from across the sector, and it is encouraging to see growing interest from professional advisors, keen to incorporate the topic of philanthropy as part of wider and more holistic advising services.

Why is the topic of philanthropy so important in professional advising?

The Intergenerational Wealth Transfer
The Intergenerational Wealth Transfer (IWT) of the baby boomers will see an outsized amount of wealth held by the baby boomer generation - est. NZ$1.6T - changing hands over the next 20-25 years. How this wealth is stewarded really matters for the future of New Zealand and research tells us that professional advisor practice has great potential to inform clients and enable more intentional and structured forms of giving.

We are noticing three main shifts going on, influencing professional advisor practice and nudging conversations towards the topic of philanthropy.

1. Changing demographics of givers
Under 35s are exerting their influence shifting approaches to giving, with proportionately more of them being more likely to seek financial advice. There is a notable rise of tech wealth, with a recent research report in Australia confirming that this category of young wealth holders is growing exponentially. Further, for the first time in history women are on the verge of controlling the majority of personal wealth as the baby boomer wealth first passes hands in what is termed a ‘horizontal wealth transfer’. Women tend to outlive men and are set to take charge of an estimated two thirds of the intergenerational wealth before it passes to the next generation. This represents a seismic shift in wealth ownership and has real implications for wealth management: women are more likely to give and to embark on learning journeys in philanthropy.

2. The influence of AI: soft skills matter more than ever
As AI reshapes professions, the importance of technical competence is not what is driving business as much as what one recent study reported in the Harvard Business Review calls ‘foundational’ skills – communication, collaboration, care – these are now seen increasingly as the glue that engages clients. Further, research from across the world tells us that philanthropy as a topic deepens client relationships and creates client loyalty. In an age where AI is now encroaching on technical expertise, soft skills matter more than ever; AI can't take the place of meaningful conversations exploring client identity and purpose.

3. Growth in the practice of philanthropy advising
Across the world, philanthropy advising is growing as a profession and often works alongside professional advisors, who refer clients who want to explore their philanthropy more deeply, stepping into learning about forms of structured and informed giving. Community foundations –18 in New Zealand - specialise in helping people develop their philanthropy in an intentional way, and The Gift Trust and a range of independent advisors can also provide trusted philanthropy advice around forms of structured giving and developing purposeful giving practices.

One UK study found that informed philanthropy conversations by professional advisors can double and even triple the number of clients who step into exploring more structured forms of giving. In a sector traditionally fixated on capital growth, financial advisors are considering more and more how their clients might want to think and explore more holistically 'wealth with purpose', which is good for their clients, good for business and good for the world.

Thanks to everyone who joined us this week for an exploration of the incredibly fascinating topic of philanthropy, we look forward to the next webinar with CAANZ and our professional advisor networks.