A new study commissioned by Barclays Wealth has revealed two of the most critical reasons which prevent high net worth individuals from giving more to charity: feelings of financial insecurity and a lack of duty to society, family or religious beliefs. The study which was conducted with 500 High Net Worth Individuals also revealed that only a third donate more than £10,000 a year - less than 1% of their net worth. Theresa Lloyd, author of ‘Why rich people give’ believes that “it is a disappointment and a challenge to those of us who wish to encourage a stronger culture of philanthropy to see that in spite of the sometimes very significant levels of wealth, only one third are donating more than £10,000 a year.”
Click here to read the full article on the Philanthropy UK website.
