The 2022 Wealth Management Index is out now Find out more

Company

C. Hoare & Co.

Index

Business & Entrepreneurship

Philanthropy Advisers

Location

London

Advice type

Philanthropy

Wealth planning

Wealth preservation

Client Types

Charities

Sector Focus

Financial Services

Wealth Management & Private Banking

Customer Type

Wealth adviser

Rennie Hoare

Spear’s review

‘Our purpose, as an organisation, is to be both good bankers and good citizens,’ explains Rennie Hoare, scion of the banking dynasty that began with the founding of C. Hoare & Co. in 1672. ‘The successful combination of these ideals has allowed us to thrive for eleven generations and stands us, we hope, in good stead for many more.’

As a partner of C. Hoare & Co. and the bank’s head of philanthropy, Hoare has successfully built upon the bank’s foundations, winning widespread recognition for his vision and energy: he was named Spear’s Philanthropy Adviser of the Year in 2019.

‘Discussions about philanthropy are an opportunity for us to hear what motivates customers and to understand their passions,’ he says.

Adviser Profile

‘Philanthropy is often viewed as a deeply traditional exercise,’ says Rennie Hoare. ‘At C. Hoare & Co., we have always tried to seek out contemporary, innovative ways of responding to societal issues. Through time, we have had a customer base that is massively interested in, and invigorated by, philanthropy and we have adapted along with our customers to meet emerging needs’.

Hoare has built on his family’s centuries-long tradition of charitable giving: in 1719 ‘Good Henry’ Hoare founded Westminster Hospital, the first hospital to offer care free at the point of need, while the Royal Trinity Hospice established by William Hoare in 1891 revolutionised end-of-life care. In 2019/20 C. Hoare & Co.’s charitable trust, the Golden Bottle Trust, donated £2,798,914 to some 325 beneficiaries, but Hoare is equally proud of the bank’s Master Charitable Trust (MCT), a pioneering donor advised fund set up to encourage and facilitate customers’ charitable giving:

‘We were the first UK bank to set up a donor advised fund,’ he explains, ‘In 2021 we celebrated MCT’s tenth anniversary. It now stands at 10% of the UK DAF market and we have overseen donations of £160m from the fund. In the 18 months leading up to the COVID pandemic, £40m was donated out of it. In the 18 months since COVID hit, £83m was donated out of it. That, to me, shows one of the central strengths of the bank, the advantage of having like-minded customers who, when there is identified need, really step up.’

As chair of Philanthropy Impact, Hoare works with advisers, philanthropists, charities and governments to develop best practice. ‘I am passionate about strengthening the whole philanthropy and impact-investment sector,’ he says. ‘It is hugely inspiring to be part of that growing eco-system.’

Rank: Top Recommended

Top Recommended 2021, Philanthropy Advisers

Share on