Regardless of their influence and wealth, your HNW and UHNW clients are looking for more out of life than achieving financial success. In fact, what constitutes success is much more encompassing than that, particularly with younger investors, like Millennials and Gen Z. Yes, the same generations set to inherit $18 trillion in wealth by 2030. So, what are your super-rich clients looking for beyond mastering personal and professional goals? A life of significance and meaning.
In fact, a recent article from Financial Advisor highlighted some interesting research that was conducted by CEG Insights—and the findings are quite telling. It revealed that advisors who help their clients achieve both their financial and nonfinancial ambitions position themselves to drive significant organic growth in their practice. Having partnered with wealth management advisors and their wealthy clients over the past two decades on their charitable giving, we’ve found that philanthropy can be a key tool in helping them lead a life of purpose and fulfillment.
Taking a Holistic Approach with Philanthropy
Wealthy investors, particularly Millennials, are looking to work with advisors who understand them—not just their bank accounts. In this way, philanthropy becomes a key pillar under the wealth management umbrella and allows you to provide a more holistic solution. Asking them questions about their philanthropic goals and interests can uncover personal details that can help you forge deeper, more meaningful relationships that may lead to more assets and more client referrals.
Setting Up Your Action Plan
Drawing on decades of experience with philanthropic families, our experts have put together a suite of specialized insights that will help you before, during and after your client meetings. In our Client Meeting Kit, you’ll find helpful resources on everything from how to avoid distinct traps when advising clients to tapping into their philanthropic interests. This is a perfect place to start putting these ideas into practice—particularly as we head into the busy giving season.
Want to learn more?
Check out our resource on how to talk to clients about what matters to them most.
Learn More About How We Support Advisors
Schedule a call or reach us at 800-839-0054 to learn how we can best support your clients who are passionate about philanthropy. Together, let’s #begiving.
