The Rise of the Philanthropic Advisor Entrepreneurs
By Crystal Thompkins and Dien Yuen
The philanthropic advising sector is entering a defining moment shaped by unprecedented wealth transfer, rising donor sophistication, the growth of donor-advised funds (DAFs), and the professionalization of impact-oriented advising. For entrepreneurial advisors, the opportunity is significant: demand is increasing, expectations are shifting, and new business models are emerging. Yet despite this momentum, the field lacks a clear picture of who these advisors are, what they do, and how their backgrounds inform their practice. This article presents data to fill those gaps and offers recommendations to strengthen this essential segment of the advising landscape.
Who are Philanthropic Advisor Entrepreneurs?
In 2024, Daylight conducted the first comprehensive study of philanthropic advisors, defined as practitioners who guide the who, what, why, and how of using resources for philanthropy and social impact. Of the 258 advisors surveyed, 30% (77) operate independent consulting practices.
These entrepreneurs reflect a diverse and experienced cohort:
74% identify as women, 38% identify as BIPOC, 9% identify as LGBTQ+.
16% are between 30 and 39 years old, 25% are between 40 and 49, and 33% are between 50 and 59.
28% earn between $100,000 and $149,999 annually.
Question: What is your current annual base salary or average annual gross consulting income?
Category | Percent |
|---|---|
Up to $99,999 | 21% |
$100,000 - $149,999 | 28% |
$150,000 - $199,999 | 11% |
$200,000 - $249,999 | 18% |
$250,000 - $299,999 | 12% |
$300,000+ | 9% |
What Does Their Current Practice Look Like
Entrepreneurial advisors are relatively early in their business lifecycle:
39% have operated for 1 to 4 years
26% for 5 to 9 years.
Entrepreneurs most commonly reported providing services in defining purpose (77%), developing impact strategies for charitable vehicles (61%), and cultivating family capital (55%).
They work across broad client groups, including individuals and families (79%), nonprofit organizations (71%), and private foundations (60%).
For entrepreneurs working with individuals and families, 49% reported that more than half of their clients are builders of new wealth. 21% reported that more than half their clients were BIPOC.
Question: Of your individual and family clients, what percentage are primarily builders of new wealth (as opposed to being inheritors of existing wealth)?
Category | Percent |
|---|---|
Less than half | 36% |
More than half | 49% |
I do not know | 14% |
I prefer not to answer | 1% |
Where Do They Build Their Skills?
The study confirms what many in the field anecdotally understand: philanthropic advising is still primarily learned through experience rather than formal training.
55% cite ‘learning on the job’ as their top professional development method.
Advisors self-identified as competent to proficient across core skill domains, including client resource identification, client purpose discovery, philanthropic plan, and strategy development.
Question: Which have been most helpful to your learning as an advisor? (Please enter 1, 2, and 3 below to rank the first, second, and third most helpful.)
Category | First | Second | Third |
|---|---|---|---|
Formal education programs | 13% | 16% | 18% |
Learning on the job | 55% | 19% | 17% |
Mentor relationships (formal or informal) | 13% | 22% | 12% |
Professional associations | 9% | 15% | 21% |
Resources found on my own (books, blogs, forums, etc.) | 8% | 24% | 27% |
Other | 2% | 3% | 5% |
A Field in Formation
Despite real progress, the field remains, in Daylight’s words, “a beautiful mess.” Several systemic barriers impede growth:
Low visibility: The market lacks a shared narrative about what philanthropic advisors do, how they create value, and how their services are structured or priced. In addition, most donor clients do not know that philanthropic advisors are available to work with them. This ambiguity suppresses demand and slows market formation.
Network access: Unlike adjacent fields such as wealth management, legal services, or consulting, philanthropic advising lacks strong, established pipelines for sourcing clients and building credibility. As a result, early-stage business development is slower, riskier, and disproportionately dependent on personal privilege and proximity to wealth. Advisors from underrepresented backgrounds face especially steep barriers, with limited access to the high-net-worth networks, institutional gatekeepers, and referral pathways that meaningfully shape client acquisition and long-term viability.
Knowledge gaps: Even seasoned practitioners identify financial capital development as a weakness (34% of novices; 20% of advanced beginners).
Funding and capital constraints: Most philanthropic advisors operate as small firms or solo practices, entities that rarely attract investment despite serving a rapidly expanding market. These small philanthropic advising businesses do not have access to growth capital, operating reserves, or R&D funding. This capital scarcity suppresses innovation and limits the ability of advisors—particularly emerging entrepreneur-advisors—to scale beyond a boutique or referral-dependent model. As a result, the field remains fragmented and fragile, with high-quality practitioners often unable to expand their impact because the business model is capital-poor and structurally at a disadvantage.
Investing in Philanthropic Advisor Entrepreneurs for the Decades Ahead
The rise of the philanthropic advisor entrepreneur signals a profound shift in how generosity is practiced, structured, and sustained in the United States. Entrepreneurial advisors are stepping into a rapidly expanding landscape shaped by historic wealth transfer, increasingly values-driven donors, and a proliferation of giving vehicles that require specialized guidance. While the field is rich with promise, these advisors still face gaps in visibility, standardization, and access to capital for business growth.
Daylight’s research highlights the unique value these advisors bring: deep subject-matter expertise, experience, cultural dexterity, and the relational capacity required to guide donors through high-stakes decisions about purpose, assets, and impact. But their effectiveness—and the sector’s potential—will depend on intentional investment in the ecosystem.
To fully realize this moment, the field must prioritize:
Clearer and more equitable pathways into the profession.
Expanded access to networks, referral channels, and client pipelines.
Adoption of shared competency standards.
Robust, ongoing professional development.
Financial support that enables entrepreneurs to stabilize and scale their business.
Doing so will not only strengthen individual advisory practices but also build the infrastructure needed for a mature, trusted, and high-impact philanthropic advising profession.