New research from Barclays Private Bank and Wealth Management reveals that becoming a millionaire is more than a financial milestone, it is also a turning point for giving back. The data shows that 77% of HNWIs in the UK began making sizeable charitable contributions before the £2 million mark, with 51% giving before reaching £1 million.
This is set against the backdrop of the ‘great wealth transfer’, with a third of HNWIs expecting to receive inheritances of £1m or more, suggesting that philanthropy could accelerate in the coming years.
Advice is key to unlocking greater giving
While wealth is a trigger, confidence is the real opportunity to unlock giving, with many donors hesitant to give more because they feel under-informed.
While 81% of HNWIs want advisers to raise philanthropy proactively, only a third say it has happened. Guidance helps clarify intent, align giving with values and financial goals, and navigate complexity such as understanding charity operations and impact.
While philanthropy specialists may wield the greatest influence on the sizeable giving of HNWIs (43%), these are closely followed by tax specialists (34%), family offices (33%) and wealth managers (29%).
Donations are growing but impact is key
HNWI giving is rising, with median annual donations rising from £5,500 in 2019 to £12,000 in 2025.
Organisations that clearly demonstrate mission, credibility, and measurable results are more likely to attract major gifts. Two-thirds of HNWIs seek social or environmental impact, among younger donors (18–34), 44% require evidence of impact before giving large sums, nearly double the rate of older donors.
Top causes include health and social welfare (supported by nearly 80% of HNWIs), followed by climate and environment (73%) and social justice and development (69%).
Philanthropy is becoming more structured
The research also found a third of HNWIs have already set up charitable trusts, included philanthropy in estate plans, or engaged advisers to shape their giving. A quarter have donor-advised funds, and similar numbers plan to take these steps soon. This shift reflects philanthropy’s growing role as a core element of wealth strategy.
Juliet Agnew, Head of Philanthropy, Barclays Private Bank & Wealth Management said:
“The view of philanthropy amongst HNWIs in the UK is shifting to become an integral part of wealth planning. As the research shows, once individuals reach key milestones in their wealth journey, they increasingly want their money to carry meaning as well as value.”
“There is a major opportunity for all kinds of financial advisers to play a more proactive role in guiding and supporting donors. As we approach the great wealth transfer, this is a chance to turn this intent to impact, ensuring that donors have the clarity, confidence and structures they need to make real difference.”
To read the report visit here.
