This article examines how charitable causes can be combined with businesses – a model now being put within the reach of individuals in a more systematic way.

Alison Ebbage (see more on the author below) talks to Andrew Kaufmann (pictured below), founder of London-based Time to Give Network, about how professionals across financial services are adopting a compliant, structured model that converts meetings into meaningful donations – creating purpose through connection. The editors of this news service are pleased to share these comments from Time To Give Network, which engages service providers and executives to drive charitable donations through a new platform. The customary editorial disclaimers apply to views of outside contributors. Email tom.burroughes@wealthbriefing.com and amanda.cheesley@clearviewpublishing.com

Andrew Kaufmann

Combining business with charitable causes is not a new thing – particularly within financial services, where sponsorship and support are already well embedded. But bringing that down to an individual level has traditionally been more sporadic.

Time to Give Network (TGN) bridges this gap with another solution. Its platform acts as a broker for those who want access to top-level, experienced decision-makers within the financial community. It follows the Warren Buffett model of the access-in-return-for-donation model. As such, those offering time, TimeGivers, can choose their charity and required donation amount, and those wanting a meeting, TimeBidders, gain access to their target audience in exchange for the charitable donation.

Currently, more than 300 members form the TGN community, including employees from leading firms such as Aviva Investors, Rathbones and MASECO Private Wealth. These participants have individually raised donations ranging from £200 ($269) to £500 for their charities of choice.

TGN has also garnered promising levels of participation from professionals across asset management, hedge funds, private equity, venture capital, real estate management, and fintech service providers. While many participants hold C-level roles, the network extends beyond senior executives, embracing a diverse array of professionals.

This growth has been primarily organic, driven by personal relationships forged during founder Andrew Kaufmann’s 15 years of experience within the UK financial services community. “The power of the network effect has been instrumental in our expansion. Although we plan to broaden our reach into other verticals, the UK financial services industry will serve as the catalyst, creating critical mass before we extend this altruistic model to other industries and geographies,” he says.

A compelling case study highlights a software vendor who secured a meeting with the chief operating officer of a £250 billion-plus asset management firm in exchange for a £300 donation to Disability Challengers. The COO later shared their perspective:

“It was a pleasure to set aside the time to support Time to Give Network’s not-for-profit platform, helping raise donations for Disability Challengers – a charity I care deeply about – while also having the opportunity to discover and learn about solutions providers in the market.”

Risk-free model
For TimeGivers, one of the beauties of this model is that it is risk-free. Conflict of interest and compliance are always top of mind for industry executives. But this model allows the TimeGiver to set their own terms; it empowers busy professionals to optimize the value of their time by allowing them to dictate which charity benefits from their participation, the donation amount, and the terms of their meetings. TimeGivers retain complete control over whom they engage with and the topics they discuss.

Phillip Chapple, COO at Monterone Partners, is one of those people. He has been involved in the financial service industry for over 25 years and has held senior positions in the UK asset management vertical during that time. He has also been responsible for setting up numerous hedge fund and private equity structures. All that makes him an industry expert well worth talking to!

Although busy people like Chapple, with vast swathes of knowledge and experience, often want to give something back to share that knowledge and experience, they also often welcome finding out new stuff, getting others’ opinions, and talking about how something works.

Traditional networks for this area have, however, tended to be monetized and that makes declaring and dealing with that income tricky – it’s just not worth the time for many.

It can also be problematic in terms of a potential conflict of interest – especially in an industry that is so heavily regulated.

Another factor is that in recent years, people have begun to transcript calls and then sell them on. “This makes people like me less willing to have the conversation in the first place and even if I am willing, then I’m going to be more guarded and less open with my ideas and opinions than I would be if it were just a conversation between two people,” he says.

Kaufmann also emphasizes the potential for executives to maximize their time when traveling to the UK. While visiting London from Cape Town, both the CEO and CIO of Prescient Fund Services had gaps in their diaries that they were happy to fill with informative and impactful meetings. Those that sought their insight didn’t have to get on a plane for a face-to-face meeting, either.

To date, TGN has facilitated donations for 25 different charities, particularly smaller ones that often struggle for visibility but are close to someone’s heart, stand to benefit significantly.

It is a novel way to unlock contributions without requiring donors to reach only into their own pockets. By mobilizing their networks, charities of all sizes can leverage TGN to enhance their fundraising capabilities.

“While we have raised many thousands [of] pounds since the platform’s launch last summer, our momentum continues to build. As awareness spreads and participation increases, we anticipate significant growth in the funds raised for charitable causes and see TGN as a win-win-win solution,” he concluded.

A Win-Win-Win Solution
TGN’s model benefits all stakeholders:

-- The TimeBidder gains valuable access to expertise, networking opportunities, or business development prospects;

-- The TimeGiver maximizes the value of their time while networking and learning, all in support of a meaningful cause; and

-- The Charity secures a new, effort and cost-free revenue stream with the potential to further engage current supporters and secure new donors.

The author
Alison Ebbage is a well-known UK-based freelance financial journalist and editorial consultant specializing in wealth management, investment and financial technology. Her work has appeared in Professional Wealth Management, thewealthnet and FinTech Futures, among other leading industry titles. She also ghostwrites for corporate clients across the financial services sector. Previously, Alison was editor at The Wealth Mosaic, shaping its current direction.