News shared with Impact Entrepreneur by Adam Bendell of Toniic

Toniic and The ImPact, two global communities of private wealth holders, are asking wealth managers around the world to describe, in one standard format, how they serve clients who want their wealth to have a positive impact. Their joint questionnaire, the Market RFP for Impact Wealth Management, was announced on October 27, and responses are due by midnight GMT on November 20.

Members of both networks are families, foundations and individuals. By the organizers’ account, each member’s investable wealth runs from USD 10 million to several billion, and the two memberships together hold hundreds of billions of dollars in private wealth. Many report a persistent gap between what they need from wealth managers on impact and what the market offers today, and the RFP turns those needs into standard questions.

The questionnaire runs to about 70 questions in seven sections, most answered from dropdown menus. They cover a firm’s profile, impact goals, capacities, asset classes and fee models, what it needs from clients, and how it aligns a client’s wealth with impact goals across generations. No fee figures are requested, and no question is mandatory. The organizers say they will think better of a candid “no” than of a “yes” stretched over thin evidence.

The questions follow Toniic’s Guiding Principles for the Impact Wealth Management Relationship, 18 principles that members of both networks advised on, released publicly with the launch. They also draw on the survey behind The Investor’s Guide to Impact Wealth Management, which The ImPact wrote with the Center for Sustainable Finance and Private Wealth in 2025.

Several principles cut against wealth-management convention. The first holds that “the purpose of wealth can be greater than infinite preservation and growth.” The fee principles ask advisors to consider alternatives to charging a percentage of assets under management, with “aligned, not lower, fees” as the aim, and the clients commit in turn to paying appropriately for specialized work such as impact measurement.

“For years we’ve explained to wealth managers, one firm at a time, what services we need,” said Adam Bendell, Co-Chair of Toniic’s Wealth Management Working Group. “This Market RFP addresses the entire market at once, giving firms clarity on client needs and giving clients better visibility into available options.”

Claudia Coppenolle, Regional Director for Europe, Middle East and Africa at The ImPact, said the families in its community want their capital to reflect their values. “By asking the market the same questions, in the open, we hope to start a better conversation between those who hold wealth and those who advise them.”

Each question says whether its answer will go into a public directory of provider profiles or a members-only database. The organizers call the exercise a comparative market survey, and members will choose their own advisors; no stage involves scoring, ranking or collective selection. Selected respondents may be invited to present at a hybrid event in early 2027, held live in North America and streamed online.

The organizers sent the RFP directly to 100 wealth managers that members had brought to their attention, but any regional team or firm may respond. Respondents download the Excel questionnaire from the Market RFP website, obtain their compliance department’s sign-off and email the completed file to RFP@toniic.com. Questions go to the same address. Answers of general interest are posted to a shared FAQ, and the organizers will not hold private meetings with individual firms.

Sources: Toniic and The ImPact’s announcement (October 27, 2026), the Market RFP website and FAQ, Toniic’s Guiding Principles and The ImPact’s guide page. Image courtesy of Toniic.