With the future of foreign aid plunged into uncertainty, family offices and wealth managers may help fill the void and play a more strategic role in this sphere.
The world’s wealthiest individuals and financial institutions have long played a vital role in philanthropy. As the bulk of US foreign aid has been slashed and as other donor countries, including the UK, also cut back, the responsibility of wealth managers, family offices and banks to help fill this void has never been greater. This is not just about doing good. It’s about ensuring stable and investable markets and building long-term financial prosperity for all.
Foreign aid reductions have far-reaching consequences. Surveys…
