Charities can grab a slice of the biggest transfer of UK wealth in history | WARC | The Feed

Charities can grab a slice of the biggest transfer of UK wealth in history

The UK will see the biggest transfer of wealth from one generation to the next in its history over the next 25 years, according to research by media agency The Kite Factory. And by 2029 alone, 145,000 people will leave some £4.7 billion in their wills, it’s forecast.

A new study by the agency identifies what charities need to do to unlock what it describes as this “heartland legacy audience” – and what they should avoid.

The details

• Some 500,000 Brits fit the “heartland legacy” profile and are characterised as being over 55, without children, and having a history of giving money and/or time to charities. 
• This group is twice as likely as others to say print ads influence purchase decisions, and they are equally responsive to communications through the post. But they are no technophobes, and are more active as online shoppers than the UK average, in particular buying books, insurance and holidays online.
• But they don’t like ads or communications that seem to be intrusive or opportunistic, so messaging needs to be carefully crafted for this discerning group, the report says.

Top takeaway

Recent research shows just 6,000 people were responsible for £1.5 billion of all donations to charities in wills in 2020, revealing a huge opportunity for charities who successfully tap into this high-value audience.