Wealth Solutions & Wealth Planning

Temasek Trust Launches Philanthropy Advisory Service

Temasek Trust has initiated its philanthropy advisory service, TT Foundation Advisors, led by a former UBS philanthropy adviser.

This new arm aims to offer advisory and management services to philanthropic foundations, family offices, corporations, and charities throughout Asia, as announced in a press release dated April 29, according to some reports.

Dickson Lim, who joined Temasek Trust in March, is at the helm of this venture. His prior role was as the executive director and head of philanthropy and community impact at UBS in Singapore, where he spearheaded regional philanthropy and social responsibility projects. Before joining UBS, Lim served at BNP Paribas Singapore as the head of individual philanthropy services for Southeast Asia, bringing over two decades of experience in the non-profit sector.

With increasing policies like the Philanthropy Tax Incentive Scheme, which encourages overseas giving, there is an anticipated rise in the demand for philanthropy advisory services. This scheme allows single-family offices to meet qualifications by outsourcing philanthropy professionals and using independent donor-advised funds (DAF) as local intermediaries.

Additionally, single-family offices might seek advice on regular donations and blended finance grants to meet local spending requirements under tax incentive schemes for family offices. Private banks considering offering DAF and philanthropy advisory services are advised to partner with an independent and reliable entity to provide these services.

Clients of TT Foundation Advisors can leverage various entities within the Temasek Trust ecosystem, such as the Centre for Impact Investing and Practices (CIIP) and the Asia Centre for Changemakers (ACC). They also have the opportunity to engage in collaborative philanthropic projects through the Philanthropy Asia Alliance (PAA), which includes over 80 members globally, and to connect with early-stage impact businesses via the newly launched platform, Co-Axis.