Bradley Russell, head of Manchester and the North West at UBS Global Wealth Management, discusses how philanthropy, social impact, and legacy are transforming the future of wealth management and why clients are increasingly connecting capital with purpose.

When Russell joined UBS Global Wealth Management, he was looking for more than a strong platform for financial advisory. He was seeking a firm where philanthropy wasn’t treated as a footnote to wealth but as an essential part of it.

“One of the reasons I joined UBS is because philanthropy and social impact are embedded in how we work with clients from the very beginning,” says Russell. “These are not side conversations. In fact, they often spark deeper reflections on legacy and purpose.”

This approach is grounded in the belief that wealth should serve more than material ends. For Russell, it’s about channelling financial success into meaningful, long-term change.

“To me, turning wealth into meaningful change means using capital intentionally, not just to achieve financial goals but to create a lasting, purpose-driven legacy,” he explains. “That might involve investing in long-term solutions to systemic issues, supporting causes that reflect a client’s values, or building something that benefits future generations.”

UBS supports this vision by offering clients access to philanthropy specialists, global insights, and curated giving opportunities through its UBS Optimus Foundation, resources that make thoughtful giving both accessible and impactful.

Local Roots, Broader Reach

In the North West, Russell sees strong interest from clients in tackling inequality, especially in education, a sector where philanthropy can deliver measurable, transformative outcomes.

“The UBS Optimus Foundation’s UK Education Collective Portfolio helps clients support organisations that are delivering meaningful and measurable improvements in education,” he says.

He adds: “The portfolio consists of partners that collectively are working to tackle educational disadvantage in the UK. It takes a holistic approach to dismantling barriers to education, both within and outside of school and across all stages of a child’s education journey.”

One such partner is OnSide Youth Zones, a national charity that creates high-quality youth centres in underserved areas. These spaces offer mentorship, community, and practical support for young people navigating some of the most difficult social circumstances.

“For example, we partner with OnSide Youth Zones… These centres offer young people a place to grow, connect with role models, and access opportunities that help them realise their full potential. It is a great example of how philanthropy and investment can work together to level the playing field.”

The Education Collective focuses on three core areas: Early Childhood Development; Foundational Skills (such as literacy and numeracy); and Transitions, both between educational stages and from school to employment. This comprehensive strategy is designed to address root causes, not just symptoms.

“UBS also believes that place matters, that sustainable change requires social impact organisations to contextualise their work, and work in partnership with and learning from the communities they are looking to support,” says Russell. “Particularly for the most disadvantaged communities, where a place-based change approach can be particularly impactful.”

A Foundation for Impact

What sets UBS apart from its private banking peers, Russell argues, is the scale and structure of its philanthropic infrastructure.

“Philanthropy is no longer a side conversation in wealth management. It has become a core pillar of how today’s families define purpose and legacy. Nowhere is that clearer than at UBS, where the UBS Optimus Foundation (UBS OF), its in-house foundation staffed with philanthropy experts, has turned client generosity into a global engine for impact,” he says.

Founded in 1999, the UBS Optimus Foundation has raised nearly $2bn to date. But behind the numbers lies a deeper commitment: a dedicated network of nine local foundations and over 125 philanthropy professionals who actively manage a live pipeline of 370 programmes around the world. These include both grants and social finance investments across areas such as health, education, climate, and crisis response.

“For clients, this offers something few private-bank peers can match direct access to a pipeline of projects that have been vetted for impact and have reached over 44 million beneficiaries worldwide since 2014.”

This model of embedded expertise and strategic giving allows clients to not only fund important causes, but to do so with confidence in the outcomes. “It’s purpose-built,” shares Russell. “And it’s making a measurable difference.”

The Next Generation of Wealth and Legacy

Looking to the future, Russell identifies several key trends that are redefining what wealth means, and what it’s for.

“One of the most significant changes ahead is the great wealth transfer. Over the next 20 years, according to the recent UBS Global Wealth Report, around $83tn is expected to pass from older generations to their heirs. This shift is not just financial; it is already transforming the way people think about wealth and legacy,” he notes.

Before this generational handover, an estimated $9tn will move between spouses often resulting in women becoming the primary wealth holders. This demographic shift is already influencing investment priorities.

“Because women are often outliving men, we are seeing more women becoming the primary wealth holder, which is bringing a renewed focus on values, long-term goals, and social impact.”

Meanwhile, younger inheritors are carving out new paths. “They are not always following in their parents’ footsteps. Many are choosing to invest in ventures that align with their personal beliefs, from sustainability and social enterprise to purpose-led start-ups. Some are using their inheritance to back causes that matter deeply to them, rather than continuing with traditional business interests.”

These shifts are forcing the wealth management industry to evolve. Clients no longer want to simply preserve and grow capital; they want to shape the world with it.

“Clients increasingly want their wealth to reflect who they are, not just what they own. Leaving a meaningful legacy is becoming central to how success is defined,” says Russell.

“At UBS, we help clients bring their purpose into focus, whether through tailored strategies or collective giving platforms like the UBS Optimus Foundation. It is about connecting capital with intention and building a legacy that has meaning far beyond numbers.”