Business
Philanthropy support to ‘generous generation’ could unlock money for society

PRO BONO Economics research estimates that there are around 230,000 people under 35 in the UK with net financial assets exceeding £100,000
Nearly all wealthy young people surveyed express a strong desire to have a positive societal impact with their money, with 88% already donating to charity
However, around 110,000 wealthy people under 35 may not have a relationship with a financial or wealth adviser at present.
New research reveals that, while a significant percentage of young people in the UK are keen to contribute to good causes, many are not receiving advice on how best to invest their money.
The research, by Pro Bono Economics (PBE)1, found that while there are around 230,000 people under 35 with net assets exceeding £100,000, roughly 110,000 of those may not be in contact with a financial or wealth adviser.2
As well as unlocking large charitable donations, providing philanthropy support for young wealthy clients would be a significant growth opportunity for financial advisers given their ability to understand and cater to the philanthropic inclinations of what PBE has coined the ’generous generation’ and build long-term relationships with the high-net-worth individuals of the future.
To address this issue PBE brought together the Financial Conduct Authority, the Treasury, and the Department of Culture Media and Sport, as well as an alliance of accredited bodies, government entities, and philanthropy experts, to enhance philanthropy training for advisers.3
An estimated £5.5 trillion is expected to be passed down to younger generations over the next 20 to 30 years – the so-called ‘Great Wealth Transfer’. Financial advisers and firms seeking to attract the business of the 230,000 under-35s who already possess net financial assets exceeding £100,000 will need to adapt.
Encouragingly, 88 per cent of wealthy young people already donate to charity and PBE found that 90 per cent of those surveyed expressed a strong desire to have a positive societal impact with their money. With this generation giving more to charity – and in greater numbers – than ever before, financial advisers will need to tap into their philanthropic instincts.4 Last year 38% donated more than £2,000 to charity last year, compared to 5% of over-55s. This makes them eight times more likely to have made a substantial gift to charity or charities. Despite straitened times, 63% of those surveyed said they would consider increasing their charitable donations, compared to 13% of over-55s.
While this generation is also more likely to seek financial advice – 78% compared to 61% of those over 55 – more than half of wealthy under-35s also indicated they would be more likely to choose a financial adviser who offers philanthropy advice.
One compelling route to engaging with younger clients and potential clients on their giving is through Donor Advised Funds, a convenient charitable giving vehicles which can be funded through cash, shares or third-party entities. Encouragingly, 65% of under 35s5 said they would be interested in investing in a DAF in the future.
Sisters Lauren Gupta and Becky Holmes founded the Helvellyn Foundation, which provides philanthropic grants to individuals and organisations involved in biodiversity and the education of young people. When they first started they found almost no philanthropic advice from financial advisers.
Becky said:
“I found that most advisers focused on just growing your money, with philanthropy always being a secondary consideration. That immediately lost me because that’s not the go-to motivation for everyone. It’s a big deal to push against the status quo – it’s very difficult to get out of that box. A lot of wealth advisers will also not talk about the impact of how money is invested for fear of offending clients, such as whether it will be to the detriment of a habitat or a community.
“My advice to people wanting to give philanthropically is to speak to foundations in the UK and other people who have had that experience before speaking to advisers.”
Lauren said:
“We all live in a society affected by global issues, and advisors need to talk about how wealth management can impact, positively or negatively, these issues. But they don’t seem to offer that, it’s presumed that you are looking to preserve and grow the wealth regardless of the impact – there’s such a protective mindset on it.
“I have also been speaking to advisers about how they engage the next generation of wealth holders, because we were not engaged by the advisers around our family. My caveat is that advice should be more holistic and impact-focused; we are probably more progressive because we didn’t get that engagement and ended up seeking more forward-thinking advice elsewhere! One thing that helped us early on was a wealth coach who talked us through the emotional as well as the planning side of wealth, which we had not seen anywhere else. To anyone thinking about giving money away, you don’t have to start big. Initially a large sum seemed scary, but now we feel more secure and are braver in what we are doing.”
David Clarke set up a project called Wealth Shared which saw 12 people decide how to spend his £100,000 inheritance.
David said:
“My mum died in 2014 and I inherited this amount of money and I had this feeling of not being comfortable with inherited wealth – I don’t think it’s how the world should work so I decided to give it away.
“I went through a thought process of wondering what to do with it, and sent out 600 letters in my local area. The task was they could do anything with the money – and they had to give it away rather than having any lasting relationship with that money – but it could go to any individual or organisation in the world. In the end the money went to organisations in the L8 postcode – an area where there’s a lot of deprivation.
“A lot more people are in a position like me and the amount of wealth inherited is going to massively increase over the coming decades. We’re also in a time where people are more socially aware. “If you’re ever in a position about what to do with the money there’s power in democratising that decision and dispersing the pressure so it’s not all on the individual.”
Nicole Sykes, Director of Policy and Communications at Pro Bono Economics and co-author of the report, said:
“This is an opportune moment for financial advisers with the Great Wealth Transfer, and the time to act is now. By championing philanthropy, advisers can ensure they remain relevant and tap into the significant good will of the generous generation.
“Firms and advisers that do not currently offer philanthropy services or limit their philanthropy offerings to the ultra-wealthy risk being left behind by demographics, demand, and by governmental action. But by evolving and embracing this challenge they can attract the next generation of clients in a competitive market and contribute to a more giving, socially-conscious society.”
Business
Historic Pembrokeshire pub’s major facelift gets the go-ahead

A RETROSPECTIVE scheme for works at a historic Pembrokeshire pub has been approved by county planners.
In an application to Pembrokeshire County Council, Chris Grey sought permission for retrospective works for additional shower/toilet facilities for the Speculation Inn public house and authorised Caravan & Camping Club, near Hundleton, and a replacement store.
A supporting statement through agent Hayston Developments & Planning Ltd said: “The premises has changed hands in recent years and the pub has been sensitively refurbished and the rear paddock operates under a Camping and Caravanning Club exemption and has proven very popular.
“The applicants seek two expansions, which are mainly in retrospect and relate to the following: Bespoke separate toilet / showers for the authorised campsite / tourer site. A small facility is available in the pub, however, this is not ideal for campers who need showers.
“Replacement of a corrugated building attached to the pub, which had collapsed, with a replacement store for the Speculation Inn and its various function.
“The toilets are positioned to the rear of the Speculation Inn and its beer garden and use an existing treatment plant and soakaways for roof water.”
It added: “It is the applicant’s intention to retain the current toilet/shower facilities offered to visitors who wish to park their caravans at the Speculation Inn Meadow certified site, or who have come with the intention of camping, and by expanding their offering with a further toilet / shower block, all being more appropriate for modern camping and caravanning client expectations and being Covid friendly.
“A new British Standard compliant package treatment plant with associated drainage fields is now installed ensuring that the clarified water will not cause diffuse water pollution (DWP) in the downstream water network.”
It concluded: “It already brings a benefit in regard to providing quality tourism operations with required enhanced facilities.”
No objections were received to the proposals, an officer report recommending approval said.
The application was conditionally approved by county planners.
Business
Better indoor mobile signal could boost Welsh economy

Wales could benefit from £3bn growth annually if indoor mobile dead zones were eliminated, survey finds.
RESEARCH from Freshwave, a connectivity infrastructure provider, highlights how improving indoor mobile coverage could significantly enhance productivity across Wales. According to the 2025 Freshwave Mobile Connectivity ROI Index, poor indoor mobile signal currently costs Welsh organisations an estimated £4bn every year, with businesses, hospitals, and public buildings suffering from inefficiencies caused by mobile blackspots.

The index reveals that 82% of Welsh organisations experience daily connectivity issues, which have a direct impact on both employee productivity and customer satisfaction. Survey respondents believe that resolving these connectivity problems could lead to a substantial 2.1% increase in Wales’ GDP—surpassing the UK-wide average of 1.6%.
In light of these findings, the Welsh Government’s Digital Strategy for Wales aims to use technology to improve lives and enhance productivity across the nation. This is particularly timely, as Chancellor Rachel Reeves has made economic productivity a key priority amid discussions of avoiding further tax increases.
Impact on Welsh businesses and public sector
Organisations with more than 100 employees are reporting that indoor mobile connectivity problems cost them an average of £143m annually, which translates to a collective £4bn loss across the Welsh economy. Respondents believe that improving mobile coverage—whether through 4G or 5G—would address these productivity barriers and contribute to significant efficiency gains. Many also anticipate higher budgets for mobile connectivity improvements, with 68% planning to increase their investments over the next two years.
CEO comments on the need for action
Simon Frumkin, CEO of Freshwave, explained: “The Welsh economy simply cannot afford to lose billions every year. Investments in digital infrastructure over the past decade have set the stage for progress. Now, we need to ensure that seamless mobile connectivity is available where it’s needed most. This could result in a £3bn boost to Welsh organisations.”
Frumkin added, “By working alongside mobile network operators, we can unlock the full economic potential of 4G and 5G connectivity, driving innovation and efficiency across all sectors.”
National context: Public sector hit hardest
Across the UK, the public sector is the most affected by indoor mobile connectivity issues, with losses of £46bn annually and missed opportunities worth £33bn. The professional and financial services sector also faces significant losses, amounting to £24bn annually, with potential gains of £17bn.
Notes to Editors
Research methodology: A survey of 900 senior IT decision-makers from medium and large organisations across the UK was conducted in December 2024. Participants represented sectors including government, healthcare, professional services, and more, with all respondents from organisations with over 100 employees and revenues exceeding £50 million.
About Freshwave: Freshwave is a connectivity infrastructure provider that simplifies digital infrastructure. Backed by DigitalBridge, Freshwave collaborates with mobile operators, governments, and real estate providers to ensure reliable connectivity across the UK. Visit www.freshwavegroup.com for more information.
Business
Cambrian Training Company collaborates to promote apprenticeships in schools

ONE of Wales’ leading work-based learning providers is calling for better collaboration between schools, employers and training providers to inform young people and their parents about apprenticeships.
Faith O’Brien, managing director of Welshpool-based Cambrian Training Company, said: “A significant gap remains in the quality of joint marketing activities between schools, employers and training providers to effectively promote apprenticeships”.
“This gap is often attributed to a lack of awareness among careers officers in schools and a reluctance to present apprenticeships as a viable option for all pupils, regardless of academic attainment.”
She believes best practice for promoting apprenticeships involves directly engaging with employers to foster strategic and operational relationships while investing in the sector.
“Many employers in Wales have successfully embedded apprenticeships into their career pathways, making them a crucial component of their recruitment and retention strategies,” she added.
“As the leading provider of work-based apprenticeships in Hospitality and Food & Drink Manufacturing, Cambrian Training has built strong employer relationships, enabling a deep understanding of business needs and ensuring apprenticeship programmes align with their delivery models”.
“It’s vital that young people, their parents and teachers have access to all the available information of the different education options. We also need parity of esteem between the academic and vocational routes, so that our young people can take informed decisions that lead to successful life-long careers.”
Faith’s comments come as Wales tries to reduce the number of young people aged between 16 to 24 not in education, training or employment (NEET). The year ending September 2024 showed that the NEET rate was 10.7% and individuals aged 24 accounted for the highest rate at 18.8%.
Recent UK research commissioned by Grant Thornton UK LLP reported growing recognition of the benefits apprenticeship can offer school leavers. However, almost one in five (19%) of young people surveyed don’t believe they have received good careers advice about school leaver apprenticeships.
Most young people felt pressure from parents and teachers to go to university and only just over one in five (22%) are considering or currently doing a school leaver apprenticeship.
The Senedd’s Children, Young People and Education Committee has launched The Routes into post-16 education and training inquiry, examining the quality of information given to learners about the full range of post-16 options in Wales.
The inquiry will also examine how effective careers support is at compulsory school age, changes in post-18routes, Welsh-medium provision, equity of access, Post-16 destination data and the Welsh Government’s role.
Cambrian Training Company is supporting careers initiatives aimed at schoolchildren and their parents to raise awareness, knowledge and interest in apprenticeships.
The company attends apprenticeship and careers fairs across Wales and sponsors the Culinary Association of Wales and the Welsh International Culinary Championships (WICC).
The WICC features competitions and skills classes to give young people a chance to try their hand and learn more about the industry and job opportunities.
Cambrian Training Company also collaborates with Menter a Busnes and Tasty Careers in Food & Drink schools programmes to promote careers in Welsh food and drink and hospitality
Photo captions:
Cambrian Training Company promoting apprenticeships at the Apprenticeship Fair held in the Senedd during National Apprenticeship Week.
Faith O’Brien, Cambrian Training Company’s managing director.
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