Two thirds of high net worth (HNW) philanthropists feel a sense of responsibility to give and half would like to give more, according to a survey by J.P. Morgan Private Bank.

The private bank conducted a poll in conjunction with its sponsorship of the Beacon Awards, which promotes philanthropy in the UK.

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Approximately 91% of the philanthropists surveyed state that finding a cause that they care deeply about is the key driver for getting involved. Approximately 39% of HNW philanthropists also say they get involved in a particular charitable cause because they believe they can make a visible difference.

The survey of 47 HNWIs and Ultra High Net Worth Individuals (UHNWIs) found that:

– 56% would like to give more to charitable causes than they currently do;
– 48% give more than 5% of their total wealth to charitable causes;
– 35% give more than 10% of their total wealth to charity;
– 69% were first inspired to start charitable giving because of a sense of responsibility to do so; and,
– 30% donate because they wish to give something back to the community

Rebecca Eastmond, head of philanthropic services EMEA at J.P. Morgan Private Bank, said: "These findings also show that effective philanthropy creates a virtuous circle – the more positive impact your gifts make, the more committed you will likely become."

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Eastmond told PBI in January 2015 that HNWIs and UHNWIs are becoming "really strategic" with their giving.

"Even though it is money they are giving away, one thing that I think all of the winners have in common is that they treat it as investment – with a business strategy."