Once seen as an optional extra, philanthropy has become a defining element of how many individuals and families think about managing and sharing their wealth.
While most high-net-worth individuals (HNWIs) are already giving generously, research suggests that few feel fully supported in doing so. Barclays’ 2025 Giving Report found that 98% of UK HNWIs donate to charity, yet fewer than half receive the advice they expect when structuring their giving.
The STEP Attitudes to Wealth 2025 report echoes this, revealing that while 65% of clients discuss social responsibility with their advisors, only one in four take meaningful action to embed it in their long-term plans.
For trustees and advisors, this presents both a challenge and an opportunity to help clients move from good intentions to tangible, lasting results.
From charitable intent to structured giving
STEP’s findings show that many clients are reassessing the purpose of their wealth, questioning what “enough” looks like for their families and how the surplus can serve a broader good. Yet despite this desire to give, translating intention into a clear strategy often proves difficult. More than half of respondents said their clients do not currently make significant charitable donations, even though 41% of their clients intend to do..
During a recent STEP webinar exploring changing attitudes to wealth, panellist Jonathan Simmons (Chief Executive of impact economy consultancy firm NPC and Co-founder of Yuup) shared his own experience of working with advisors after generating significant wealth. He explained:
“The conversation felt selfish very quickly about what I wanted and what my family wanted, it was upsetting, and I felt alienated by the conversation. Doing good wasn’t brought into the conversation until I brought it up… I know I’m not alone in that experience.”
Jonathan’s experience highlights a growing challenge for many HNWIs who want to use their wealth for positive impact but may find themselves in conversations which feel as though they are being deterred from doing so. For some, discussions about wealth structuring, succession, and investment can feel disconnected from their personal values or sense of purpose. As Jonathan’s comment suggests, the lack of early, open dialogue around philanthropy can leave settlors and beneficiaries feeling unsupported.
This is where trustees have an important role to play in reframing conversations. By proactively introducing philanthropy and environmental, social, and governance (ESG) activities into conversations, rather than as an afterthought, they can help HNWIs feel confident in expressing their wishes. From there, trustees can translate personal sentiment into well-structured, practical strategies that align purpose with effective governance and long-term impact.
A new generation of giving
Generational attitudes are shifting. According to the STEP report, 40% of practitioners believe NextGen clients are more concerned about leaving a positive legacy, while 37% say they are more focused on wealth inequality than previous generations. Younger wealth holders are less motivated by tax reliefs and more by measurable impact, favouring lifetime giving and ESG-aligned investments over traditional bequests.
This broader sense of social responsibility is also reflected in other areas of wealth planning.
Yet trustees continue to navigate evolving expectations. Almost a quarter of private client practitioners believe existing trust legislation limits socially responsible or impact investments, with 14% calling for reform to allow greater flexibility for purpose-led wealth management. This highlights the importance of continued education, collaboration and advocacy across the sector.
Building confidence through conversation
The STEP research also revealed that only 4% of clients communicate “very effectively” with their families about their wealth and succession planning. Trustees can help close this gap by fostering open discussions about values, governance and philanthropy, encouraging families to consider not only how they want to give, but why.
These conversations can unite generations around shared purpose, providing a common framework for decision-making and helping preserve family harmony. In doing so, trustees support both financial stewardship and the emotional continuity of wealth.
The role of trustees
Trustees are uniquely positioned to balance objectivity with insight into family dynamics and long-term goals. Their role extends beyond structuring assets, it’s about enabling purpose. Drawing on their networks, international experience and understanding of charitable and regulatory frameworks, trustees can help families identify the most suitable vehicles for their giving, from charitable trusts and foundations to donor-advised funds.
Their cross-jurisdictional expertise allows them to manage complex global considerations while maintaining transparency and compliance. This combination of technical precision and personal understanding ensures that giving remains efficient, values-led and resilient over time.
Both the Barclays and STEP reports point to a clear appetite for more purposeful wealth management. The real opportunity now lies in helping families put that purpose into practice. By combining professional rigour with empathy and foresight, trustees can turn generosity into a legacy that endures across generations.
