By Steve Conley | Academy of Life Planning
“The measure of wealth is not what you keep, but what you set free.”
Recent research from Barclays Private Bank and Wealth Management has exposed a revealing truth about our industry.
While 81% of high-net-worth (HNW) clients want advisers to raise the topic of philanthropy, only 33% have ever experienced such engagement. Nearly all (98%) already give to good causes, yet few receive structured advice on how to do so meaningfully.
The findings point to a deeper dissonance: traditional advice models reward accumulation, not liberation.
For regulated advisers tied to an assets-under-management (AUM) fee model, encouraging gifting or social investment directly reduces their revenue—a built-in conflict of interest.
Holistic Wealth Planners, however, are free from this constraint. Their mission is not to manage capital, but to liberate it—transforming money from a measure of worth into a medium of meaning.
Below are ten key lessons from the “philanthropy gap” for those seeking to practice wealth planning with integrity, purpose, and impact.
1. Purpose Precedes Planning
Most HNW clients begin giving long before tax or estate planning begins.
This proves that generosity stems from soul intention, not fiscal optimisation.
→ Lead conversations with why, not how much.
2. Incentives Shape Integrity
AUM-based advisers face a dilemma: every act of generosity shrinks their income.
Holistic Wealth Planners charge fair, transparent fees, free from product or custody conflicts.
→ True advice must be disinterested—guided by conscience, not commission.
3. Philanthropy is the Fifth Element of Wealth
Beyond financial, physical, emotional, and intellectual well-being lies spiritual wealth—the desire to serve something larger than self.
→ Integrate philanthropy as the natural evolution of self-actualisation into self-transcendence.
4. From ROI to SROI
Traditional finance measures return on investment.
Holistic Wealth Planning measures Social Return on Investment (SROI)—valuing not only financial outcomes but social, environmental, and spiritual impact.
→ Redefine performance as well-being per pound, not profit per pound.
5. Effective Altruism Meets Effective Planning
When paired with Effective Altruism (EA), SROI becomes a framework for rational compassion.
EA asks: How can I do the most good with what I have?
→ Apply evidence-based thinking to social impact just as MPT (Modern Portfolio Theory) does for portfolio optimisation.
6. Wealth as Stewardship, Not Status
For those who have “enough,” the next frontier is service.
Creating additional wealth becomes an act of stewardship—fuel for systemic change, not personal indulgence.
→ Encourage clients to see wealth as a responsibility, not a right.
7. The Longtermist Lens
EA introduces the idea of longtermism—valuing future generations as much as the present.
→ Every GAME Plan should consider the ripple effects of today’s decisions on tomorrow’s world.
8. The Adviser as Conscious Architect
Juliet Agnew of Barclays notes that donors need “clarity, confidence, and structures.”
→ Holistic Wealth Planners provide precisely this—frameworks like the GAME Plan and Kokoro Scorecards that align life purpose, financial design, and social impact.
9. Collaboration Over Custody
Philanthropy specialists, family offices, and tax advisers are already leading in impact guidance.
→ Partner with these allies rather than compete—become the conductor of a client’s orchestra of purpose.
10. Liberation, Not Accumulation
In the end, the goal of wealth is freedom—freedom to live, to love, and to give.
→ The Holistic Wealth Planner’s role is to release wealth into the world, not hoard it under management.
The Higher Calling
As we approach the Great Wealth Transfer, the real question is not how much wealth will change hands—but to what end?
For Game Plan practitioners at the Academy of Life Planning, integrating SROI with Effective Altruism provides a map for turning abundance into agency.
Wealth creation, once driven by fear and scarcity, now finds new purpose in service and stewardship. The true legacy of a life well planned is not accumulation—it is contribution.
💬 Reflection for Practitioners
“When your client reaches enough, ask not how to grow their wealth, but how to grow their impact.”
💬 Ready to plan your life — not just your money?
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No products. No pressure. Just independent guidance that helps you make life’s biggest financial decisions with confidence and purpose.
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