Launched at WINGSForum in Istanbul in late March, UBS’s Philanthropy Compass is a tool for advisers to use with philanthropists to help guide them through the philanthropic journey. ‘It’s a very structured approach that takes them through the building blocks of their philanthropy,’ says Silvia Bastante, head of philanthropy advisory at UBS. ‘But at the end of the day it’s not a prescriptive thing: it’s meant to elicit reflection and to help philanthropists find their own answers.’

Developed by UBS along with FSG and Cass Business School, the Compass has four sections. The first is about embracing philanthropy, about what philanthropists can get from embarking on the philanthropic journey. ‘Often they underestimate how much benefit they themselves get from this,’ says Bastante. The second section is about planning – forming a vision, developing a strategy, thinking about the best approaches to philanthropy. The third is about implementing philanthropy – thinking about who to partner with and how to set up the projects. And the final section is about engaging others – involving the family and being part of wider networks. UBS generally uses the first sections with philanthropists who are just beginning their journey and the latter sections with philanthropists who are a bit more seasoned.

UBS could have put together a document just for UBS advisers, so why did they decide to share it more widely? This document was put together in 2011; after using it successfully with clients, UBS realized that many others could benefit from it. Bastante comments: ‘So in the spirit of sharing and in the spirit of making a contribution to the sector, we decided to make it public.’

For more information
To download the Philanthropy Compass, visit the UBS website.