{"id":34019,"date":"2026-08-19T09:32:41","date_gmt":"2026-08-19T13:32:41","guid":{"rendered":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/?p=34019"},"modified":"2026-08-19T09:32:42","modified_gmt":"2026-08-19T13:32:42","slug":"how-wealthy-families-are-rewriting-their-philanthropy-playbooks","status":"publish","type":"post","link":"https:\/\/www.rbcwealthmanagement.com\/en-ca\/insights\/how-wealthy-families-are-rewriting-their-philanthropy-playbooks","title":{"rendered":"How wealthy families are rewriting their philanthropy playbooks"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Many of the world\u2019s wealthiest families are using their financial resources to help their communities and to address society\u2019s greatest challenges. The trend reflects a growing desire among these families to turn their wealth into real and lasting impact.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Just cutting a cheque doesn\u2019t cut it anymore.<\/p>\n\n\n\n<h2 id=\"h-from-charitable-giving-to-strategic-philanthropy\" class=\"wp-block-heading\">From charitable giving to strategic philanthropy<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cPhilanthropy has shifted from charity to a more engaged, integrated and impactful endeavour,\u201d says Dr. Paula Murphy Ives, managing director of Social Capital and Impact with RBC\u2019s Enterprise Strategic Client Group.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A <a href=\"https:\/\/www.rbcwealthmanagement.com\/assets\/wp-content\/uploads\/documents\/campaign\/the-north-america-family-office-report-2025.pdf?utm_medium=affiliate&amp;utm_source=globe-and-mail-philanthropy&amp;utm_campaign=pg-tgam&amp;utm_id=47a1c46150d7b714aa0aed021460a7cb\" target=\"_blank\" rel=\"noreferrer noopener\" class=\"link-external\">2025 North American Family Office Report<\/a>, produced by RBC and Campden Wealth, found that 86 percent of North American ultra-high-net-worth families are active in philanthropy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They\u2019re thinking even more deeply about their ability to influence progress, from helping local communities with affordable housing, to confronting more global issues like climate change. While the goals are diverse, all donors can benefit from a higher level of advisory services as philanthropy becomes more sophisticated.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cGlobal families are being less reactive and more strategic,\u201d Dr. Murphy Ives says.<\/p>\n\n\n\n<div class=\"wp-block-rbcwm-well well is-style-b-blue-tint-4\">\n<p class=\"wp-block-paragraph\"><strong>Highlights from the 2025 Family Office Report:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>In North American family offices, most donations are more than US$1 million annually, and a number of large donations push the average to US$15 million<\/li>\n\n\n\n<li>77 percent do it to engage the next generation<\/li>\n\n\n\n<li>65 percent want to promote the family legacy<\/li>\n\n\n\n<li>52 percent want to influence social change<\/li>\n\n\n\n<li>81 percent of family offices say philanthropy strengthens family values and cohesiveness<\/li>\n\n\n\n<li>42 percent see impact investing as an extension of philanthropy<\/li>\n<\/ul>\n<\/div>\n\n\n\n<h2 id=\"h-building-a-framework-for-lasting-impact\" class=\"wp-block-heading\">Building a framework for lasting impact<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">As Canadian families embrace this shift in greater numbers, RBC aims to help them build a more intentional approach to philanthropy. The goal is to partner with families and family offices to translate their values into purposeful action.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dr. Murphy Ives says ensuring capital drives change requires a careful framework, to support planning and to navigate challenges. \u201cFurthermore, if you don&#8217;t have proper governance, conflict can arise between different generations on how to make that philanthropic impact,\u201d she explains.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Many families have foundations with strong governance that still afford agency to the next generations, allowing them, for example, to direct their donor-advised funds (DAFs) to issues that are important.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cOthers have started their own private equity firms or impact funds, or seek to invest in renewable energy or cleantech,\u201d Dr. Murphy Ives says. \u201cThat\u2019s something our <a href=\"https:\/\/www.rbccm.com\/en\/\" target=\"_blank\" rel=\"noreferrer noopener\">RBC Capital Markets <\/a>, RBCx or <a href=\"https:\/\/www.rbcgam.com\/en\/ca\/\" target=\"_blank\" rel=\"noreferrer noopener\">Global Asset Management <\/a> teams can support with their advisors.\u201d<\/p>\n\n\n\n<h2 id=\"h-how-collaboration-multiplies-philanthropic-impact\" class=\"wp-block-heading\">How collaboration multiplies philanthropic impact<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Advisory teams increasingly connect clients with other wealthy families to leverage synergies and insights. To maximize their impact, families also understand the need to work together, not only among themselves, but with the private and public sectors, charities and non-profits.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cFamilies are realizing they cannot do it alone,\u201d Dr. Murphy Ives says. \u201cWe&#8217;re seeing more collaborative philanthropy where people come together around themes like youth mental health or regenerative agriculture.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">She adds that RBC facilitated roundtables with clients and leaders on the sidelines&nbsp;of the 2026 World Economic Forum in Davos, connecting them to discussions on modern collaborative philanthropy. Sessions touched on areas such as global wealth, women&#8217;s leadership, and preventative actions to protect oceans, forests and biodiversity.<\/p>\n\n\n\n<h2 id=\"h-where-investing-and-philanthropy-converge\" class=\"wp-block-heading\">Where investing and philanthropy converge<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The Family Office Report noted that the lines between responsible investing, impact investing and philanthropy are blurring\u2014a trend that\u2019s becoming more visible in Canada. The thread that connects it all is family wealth amplifying family values. Among the major motivations for efforts to drive societal change are cementing family unity, <a href=\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/insights\/three-ways-to-leave-a-legacy-through-charitable-giving\">building a legacy<\/a> and engaging the next generation. That can start from a young age.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe work with some families in Canada and around the world where, already at the age of seven, they\u2019re learning about generosity and needs in their communities and the world. As kids, they put a proposal forward and are given a token amount of money, but they have the responsibility to figure out how they&#8217;re going to give that money to the cause,\u201d Dr. Murphy Ives says.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In pursuing more strategic impacts, many families are also looking at how their business enterprises can play a beneficial role. \u201cIf you have a trucking company, maybe the next generation coming up wants to use biofuels to cut their carbon footprint,\u201d Dr. Murphy Ives says.<\/p>\n\n\n\n<h2 id=\"h-engaging-the-next-generation-in-giving\" class=\"wp-block-heading\">Engaging the next generation in giving<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Dr. Murphy Ives adds that it\u2019s more common than ever to see millennial women leading families in a new blend of philanthropy, impact investing and collaboration. \u201cMany are successful business owners while others are receiving significant <a href=\"https:\/\/www.rbcwealthmanagement.com\/en-ca\/insights\/generational-shift-navigating-the-great-wealth-transfer-and-its-implications-on-philanthropy\">wealth transfer<\/a>, but either way, they want to have an impact on the world.\u201d&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to a recent <a href=\"https:\/\/www.rbcwealthmanagement.com\/en-us\/campaign\/women-and-wealth\" target=\"_blank\" rel=\"noreferrer noopener\" class=\"link-external\">RBC study on women and wealth<\/a>, these women will receive a significant share of the estimated US$124 trillion in intergenerational wealth transfer unfolding over the next several years.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Having a deep bench of experienced and knowledgeable advisors can help guide multiple generations within families.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIt&#8217;s clear they expect a holistic approach. Advice must be more integrated and strategic regarding how they\u2019re actually going to address real problems,\u201d Dr. Murphy Ives says.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>This article was originally published in <\/em><a href=\"https:\/\/www.theglobeandmail.com\/business\/adv\/article-how-wealthy-families-are-rewriting-their-philanthropy-playbooks\/\" class=\"link-external\" target=\"_blank\" rel=\"noreferrer noopener\"><em>The Globe and Mail<\/em><\/a><em>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Explore how integrated, multi-generational philanthropic advice is helping families build strategies that strengthen both community and family bonds.<\/p>\n","protected":false},"author":22,"featured_media":34024,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"rbcwm_post_date":"","editor_notices":[],"rbc_url_alias":"","rbcwm_featured_desktop_image_position":"","rbcwm_featured_mobile_image_position":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[108,255],"tags":[1117,201,271,1116],"rbcwm_content_owner":[1002],"rbcwm_need":[68,69],"rbcwm_segment":[66],"rbcwm_solution":[129,114,82],"rbcwm_topic":[109,94],"rbcwm_channel":[],"rbcwm_format":[],"class_list":["post-34019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charitable-giving","category-investing","tag-collaborative-philanthropy","tag-impact-investing","tag-philanthropy","tag-strategic-philanthropy","rbcwm_content_owner-private-banking","rbcwm_need-grow","rbcwm_need-support","rbcwm_segment-individuals-and-families","rbcwm_solution-investments","rbcwm_solution-private-wealth-services","rbcwm_solution-wealth-planning","rbcwm_topic-giving","rbcwm_topic-your-wealth"],"acf":{"rbcwm_subtitle":"Explore how integrated, multi-generational philanthropic advice is helping families build strategies that strengthen both community and family bonds.","rbcwm_post_author":"","rbcwm_custom_breadcrumb_text":"","rbcwm_custom_breadcrumb_link_url":"","rbcwm_disclaimers":{"add_disclosures":"","perspective_disclaimer":"","expandable":"","omit_from_pages":"","disclaimer_footnote":"This document has been prepared for use by the RBC Wealth Management member companies, RBC Dominion Securities Inc.*, RBC Phillips, Hager &amp; North Investment Counsel Inc., RBC Global Asset Management Inc., Royal Trust Corporation of Canada and The Royal Trust Company (collectively, the \u201cCompanies\u201d) and their affiliate, Royal Mutual Funds Inc. (RMFI). *Member \u2013 Canada Investor Protection Fund. Each of the Companies, RMFI and Royal Bank of Canada are separate corporate entities which are affiliated.\r\n\r\nThe strategies, advice and technical content in this publication are provided for the general information only and benefit of our clients. This publication is not intended to provide specific financial, investment, tax, legal, accounting or other advice for you, and should not be relied upon in that regard. Readers should consult their own professional advisor when planning to implement a strategy to ensure that individual circumstances have been considered properly and it is based on the latest available information."},"rbcwm_insight_cta_id":[11937],"rbcwm_pagination":{"next_link":"","next_link_text":"Next article","previous_link":"","previous_link_text":"Previous article"},"rbcwm_video_duration":"","article_time":"","rbcwm_enable_toc":true,"rbcwm_toc_selector":"h2","rbcwm_toc_sub_selector":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v27.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How wealthy families are rewriting their philanthropy playbooks<\/title>\n<meta name=\"description\" content=\"Explore how integrated, multi-generational philanthropic advice is helping families build strategies that strengthen both community and family bonds.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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