Responsible Stewardship of Wealth Hub

Welcome to STEP’s Responsible Wealth Stewardship Hub, where we have pulled together news, features and resources to provoke thought and raise awareness of the opportunities available to wealth owners to be guided by stewardship principles and values.

Industry news

UK - 300 HWNIs leave legacies above GBP1 million

Just over 10,000 testators left legacies to charities in the 2018/19 tax year, the latest year for which official data is available, amounting to a total of GBP1.7 billion. Almost half came from 300 high-net-worth individuals (HNWIs) who gifted GBP1 million or more, leaving charities an average of just under GBP2.7 million per donor. The remaining 9,800 HNWIs donated GBP900 million in all. The number of people who have written a charitable legacy into their wills has risen from 14 to 19 per cent in the past nine years.

Publications

Book

Circularity, in broad terms, means avoiding waste. Applying circular economy principles to family business and wealth stewardship can provide a new approach to governance frameworks for wealth- and business-owning families.

Book: Circular Economy Principles for Family Business and Wealth Stewardship: A New Governance and Sustainability Framework

STEP Journal

Helen Swire examines the possibility of increased wealth taxes globally as a means to combat the economic deficit caused by COVID-19.

Article: Wealth taxes in the post-COVID world

Insight

Building the Future - Advising Latin American philanthropy from Miami

Charities Aid Foundation America (CAF America) and STEP Miami have combined efforts to produce this international philanthropy report which highlights the ways in which advisors in Miami and around Latin America are helping their clients give to charities across the region.

Family Dialogues on the Responsible Stewardship of Wealth: A Guide

Responsible stewardship is interwoven throughout the fabric of society. It informs the way we plan for our immediate and long-term needs, the needs of our current family members and future generations. This Guide, sponsored by IQ-EQ, seeks to engender a discussion on responsible stewardship and what it means for wealth holders. It does not attempt to provide answers, but rather to provoke thought and raise awareness of the opportunities available to wealth owners to be guided by stewardship principles and values.

Web event replay

With the COVID-19 pandemic highlighting rising inequality, many are reflecting on what can be done to address that while providing for their family’s needs. In this webinar we discuss why now is the right time to focus on the many positive things wealth can achieve for families and beyond.

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Upcoming web event

Applying circular economy principles to family business and wealth stewardship
21 July 2022 13:00-14:00 BST

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Roundtable

In uncertain times, effective stewardship of family wealth is of key importance. This STEP Journal roundtable, sponsored by Highvern, discussed the various elements of how advisors can implement sustainable, responsible practices.

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Philanthropy Advisors SIG

The SIG developed a reference guide for STEP members containing information on mitigating the impact of COVID-19 through philanthropy.