August 18, 2025
This paper, prepared in collaboration with the Gates Foundation’s Philanthropic Partnerships team, examines how, when, and why high-net-worth and ultra-high-net-worth donors engage a constellation of advisors in their philanthropic journeys—and how those advisors engage and collaborate with one another. Focusing on the U.S. context, it introduces a typology of the primary entities that advise wealthy and affluent donors.
An evolving advisory landscape
Ultra-high-net-worth donors increasingly work with organizations centered on expertise in philanthropy and its related services, such as independent philanthropy advisors and boutique firms, and full-service philanthropy firms and institutional advisors. Other professional services firms and financial institutions are also responding to demand by expanding their philanthropy-focused lines of business
A range of giving vehicles and mechanisms
Giving tools like donor-advised funds (DAFs), charitable limited liability companies (LLCs), and impact investing provide more pathways for donors to engage in philanthropy at their preferred level of involvement. The services offered through these strategies also provide donors with a spectrum of control or flexibility, publicity or anonymity, start-up and maintenance costs, and tax benefits
The rise of collaborative giving
Philanthropic collaboratives and collaborative giving enable donors to join forces on shared interests and govern their giving collectively. Collaborative funds, which may pool or align contributions to shared focus areas, have been heavily researched by The Bridgespan Group, which recently released an emerging typology of collaboratives.
Where does this changing landscape leave donors? While the breadth of giving pathways and mechanisms allows greater flexibility and levels of control, it has left many donors uncertain about which approaches or tools would best support their philanthropic goals. This is where the constellation of philanthropy advisors can make a difference: they can help donors clarify their mission, vision, and goals; chart their philanthropic legacy; and identify and implement the mechanisms and tools to do so
