This week we’re delighted to welcome HBG Research Associate Rachel Dakarian to the Intelligent Edge. Rachel and Elizabeth Roma will be presenting on July 28th at the APRA International Conference in Nashville, TN. I asked Rachel to give us a glimpse into their topic, and now I can’t wait to see the presentation! Follow Rachel on Twitter at @Rachel_Dakarian.
Bette Davis as Margo Channing in “All About Eve.” Her famous line, “Fasten your seat belts. It’s going to be a bumpy night.” Painting by Trevor Heath. Source
Just when, exactly, did the “fasten seatbelt” sign turn on? 2016 has been an unexpectedly bumpy ride so far and we should prepare for ongoing turbulence. You might think we data junkies would be harder to spook after acclimating to the never-ending squawk of the 24-hour news cycle, but the constant stream of real-time information provided by social media continues to simultaneously help and hinder our ability to decipher signal from noise.
Dealing with the ongoing fallout from the Panama Papers leak (and now Brexit!) provides some perspective on the stories that commanded the attention of fundraising professionals in 2015 – specifically the vitriol surrounding Paulson’s mega gift to Harvard, Sanford & Joan Weill’s rejected naming gift to Smith College, and the announcement of the Chan Zuckerberg Initiative. Those shockwaves now seem minor in comparison.
An engaged and aware prospect researcher is a vital resource. By regularly surveying the changing landscapes of wealth and philanthropy, we can offer strategic advantages to our teams. Effective research requires that we focus on core job responsibilities of course — prospecting, researching, providing moves management, and data analytics — while keeping tabs on current events and giving trends. No small feat!
Frontline fundraisers need to trust in our navigational skills when launching into personal visits. Context is critical.
Later this month at APRA International’s annual conference in Nashville, my colleague Elizabeth Roma and I will provide our fellow researchers with that critical context. Our presentation and discussion will include …
- Definitions of high net worth individuals (#HNWI, assets of $1 million+) and ULTRA high net worth individuals (#UHNWI, depending on your source, assets of US$30 million+ or US$50 million+).
- Highlights from Capgemini’s World Wealth Report 2016 and Knight Frank’s Annual Wealth Report 2016, such as:
- The global HNWI population is also growing, expanding 4 percent between 2014 and 2015 to 15.4 million.
- High net worth individuals controlled just under $59 trillion worldwide in 2015.
- Asia’s millionaires are now worth $17.39 trillion compared to North America’s $16.61 trillion.
- Only two major currencies strengthened against the US dollar in 2015 – the Japanese yen and the Israeli shekel.
- The UHNWI population is expected to grow by 41% in the coming decade, totaling as many as 263,483 individuals by 2025.
- Mega Gifts and Philanthrocapitalism;
- The 2016 U.S. Presidential Election and political donations;
- “Philanthropy for Hackers” and the impact of Silicon Valley;
- Family offices and B Corporations;
- The Panama Papers and tax havens;
- … and Brexit (AKA an excuse to share @StockCats tweets).
If you’re intrigued, I encourage you to attend “20/20: Strategic Vision for Today’s Philanthropic Realities” (Session 201) at 10:30 am, Thursday, July 28. Hope to see you in Nashville!
