A new HSBC report launched in collaboration with Know Your Value called "The Giving Shift: Global Living, Local Giving," shows a powerful transformation in how women across the U.S. are building wealth and giving back, grounding philanthropy in purpose. Moving away from performative, prestige-driven philanthropy, this new generation of women is ushering in a personal, grounded approach to giving—one rooted in community, family, and tangible impact.

Based on research conducted in partnership with Ipsos, the report surveyed women in the U.S. with $100,000 or more in investable assets. The findings show that affluent women—particularly younger generations and women of color—are charting a new course in wealth management and charitable giving.

Three in five surveyed women believe financial giving is extremely or very important, but the nature of that giving is personal and grounded in immediate human needs close to home. Top areas of giving are family members (41%), human services such as food insecurity and disaster relief (36%), and health/medical causes (30%). Gen Z and Millennials place higher importance on giving than older generations. Younger generations are also more likely to support education, civil rights, mutual aid, and public spaces within their communities.

The importance of giving grows with affluence; about a quarter of women with $100,000 to $500,000 in assets view it as extremely important, compared to a third of those with $1,000,000+.

Most striking is the shift in financial confidence in addition to grounding philanthropy in purpose. Contrary to traditional expectations, younger women report higher confidence in reaching their 10-year financial goals than older generations—with affluent Black and Latina women showing the highest levels of confidence overall.

“Women are no longer measuring wealth by size alone but rather defining it by purpose, impact, and control,” said HSBC U.S. Head of International Wealth and Private Banking Racquel Oden. “This report validates what we’ve been seeing with our clients — affluent women want strategies that support their financial independence, while enabling them to give meaningfully, starting with their own families and communities.”

Read the full article about women grounding philanthropy in purpose at MSNBC.