FA: What are some of the new trends in family giving?
Winget: Families are more interested in seeing an impact from their giving. It's no longer as acceptable for many to make a gift and assume that nonprofits will actually make effective use of the money. Donors are more often requesting data and reports demonstrating that their gifts are being implemented effectively. They want to see outcomes.
FA: To what factors do you attribute the rise in impact investing?
Winget: Part of it is simply awareness. It wasn't an option several years ago. Today, people understand how conscious capitalism can be very effective in making a difference as an option or complement to traditional philanthropy, and they appreciate the ability to leverage their gift over and over again through reinvestment.
FA: How have technological advancements accelerated these new trends, or have they had any effect at all?
Winget: Technology has had an effect in multiple areas. First, it makes is easier to perform research, to find out where the needs are and what is currently being done to address them. Second, it makes it easier to connect to like-minded donors, so that people are collaborating more on their giving. Third, it makes it more possible to receive feedback and data from end-users on the effectiveness of programs at nonprofits.
FA: Have high-wealth millennials had the greatest impact on the increased popularity of sustainable investing?
Winget: The younger generations do seem to often be the ones pushing new ideas within their families. But in the end, the decision-makers still tend to be the older generations, and they need to be convinced. It's a joint effort. Bringing the different generations together to talk about their values and the impact they want to have is a wonderful thing.
FA: Is sustainable investing a fad or do you believe it is a lasting trend?
Winget: I believe sustainable investing is a lasting trend, but it’s still in its infancy. There are a lot of things that need to be worked out and standardize. For example, how do we decide whether a particular investment should even be considered an impact or sustainable investment? But people are more and more buying into the general tenets of sustainable investing.