Next generation of ultra-rich to spur take-up of donor-advised funds: Citi
The bank expects more demand in Asia as super wealthy individuals seek these funds for philanthropic needs
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[SINGAPORE] The next generation of ultra-high-net-worth (UHNW) individuals will likely boost the uptake of donor-advised funds (DAFs) to meet their philanthropic needs.
Karen Kardos, head of philanthropic advisory at Citi Private Bank, noted that younger family members may not always have the same interests as their parents or grandparents.
This is where DAFs can be a tool for them to begin making an impact in their own passions and interests.
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