Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .


How Strategic Philanthropy Can Strengthen Family Legacies

David Werdiger

David Werdiger, Technology Entrepreneur and Strategic Advisor, a speaker at the marcus evans Private Wealth Management APAC Summit 2015, discusses why family offices should look into philanthropic opportunities with Luzdary Hammad, Press Manager, marcus evans, Summits Division .

“These days, the next generation in family offices is often interested in making investments not just for financial returns, but to make the world a better place. There are family offices that are averse to investing in companies that although very profitable, do things that are not good for the world, such as cigarettes or arms manufacturers. Common family values are a way to bridge generations,” suggests David Werdiger, Technology Entrepreneur and Strategic Advisor.

What additional risks do family offices encounter?

Every investment has standard risks that need to be investigated, but an additional risk to consider when investing as a family is the relationship risk. When an investor makes an investment with someone and that person rips them off, the investor will not only have lost money, but have also damaged and most often lost their relationship with that person. If that person is a stranger the investor may not care about the loss of that relationship, but if the investment cuts across family relationships then there is an extra overlay of risk. An investor may make money by going into business with their family members, but if their investment leads to continuous fighting; it is not worth the relationship risk. Alternatively, the investor may lose money with a family member and cause immense damage to a family relationship.

What is strategic philanthropy?

David Werdiger

David Werdiger

Strategic philanthropy is having a plan on how and where to direct philanthropic money bearing in mind what you want to accomplish with your donation. Family offices should not be impulsive and donate to everything and anything. They need to think deeper about what they want to achieve with their donations and therefore look at their philanthropy as not just a onetime thing, but as a series of gifts made in a particular area of interest with particular goals in mind. With goals in mind, they can monitor the achievement or lack of achievement of their donations. Family offices should not conduct chequebook philanthropy, for example they decide they want to put their name on a hospital and write the hospital a big fat cheque. Instead they need to think about what they want to achieve by putting their name on that hospital and know what the money will go to, and regularly monitor the grant recipient to see if they are accountable for what they promised.

Why should family offices consider strategic philanthropy?

Philanthropy is a great way to bring a family together, by exploring their shared values between generations and using those to direct money to philanthropic causes. Families have a culture and values that are important, and they can continue the family legacy not just by creating more and more wealth, but by looking back and saying this is what we have achieved in making the world a better place. Philanthropy is something that can transmit strongly through generations and also link diverse generations together.

Werdiger is a speaker at the marcus evans Private Wealth Management APAC Summit 2015, taking place in Kuala Lumpur, Malaysia, 2 – 4 November.

About the Private Wealth Management APAC Summit 2015

The sixth annual Private Wealth Management APAC Summit is the premium forum bringing elite buyers and sellers together. The summit offers regional SFOs, MFOs, wealth advisors, and international fund managers and consultants an intimate environment for a focused discussion of key new drivers shaping wealth preservation and investment strategy. Taking place at the Hilton Kuala Lumpur Hotel, Kuala Lumpur, Malaysia, 2 – 4 November 2015, the Summit includes presentations on exploring a wide range of asset classes to balance up portfolio distribution for wealth preservation in the current volatile market, investigating the winning collaboration framework for strategic FO alliances to increase capital, mitigate risk and seize cross-border opportunities, and equipping successors with practical corporate exposure.

For more information please send an email to [email protected] or read more here:

Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post