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In their annual compendium of views from across the industry, the Wealth Management 2024 Market Outlook featured insights from our CEO Joe Mrak about how advisors can incorporate charitable planning as the next generation inherits significant wealth. For advisors wanting to improve their portfolios and their practices, don’t miss these three things to know in 2024.

#1: Holistic Financial Advice Still Has Some Gaps

Even though the majority of wealthy investors self-identify as charitable, their advisors are often not having regular conversations about their philanthropic activities and hopes for the future. Savvy advisors are setting themselves apart and creating more meaningful conversations by incorporating charitable giving solutions under the wealth management umbrella—not as an afterthought. Another advantage? These discussions can enhance outcomes in several areas across their wealth management plan.

#2: The Next FinTech Frontier is Charitable Giving

The charitable giving space is ready for a technology revolution—much like the ones we’ve seen in banking and investing. Wealthy individuals and their advisors will all benefit from tech solutions that are purpose-built by industry experts to enable more impactful giving while lifting administrative burdens and simplifying compliance. These offerings will allow advisors to have more thoughtful, strategic discussions with charitable clients.

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It’s an exciting time for wealth advisors who are looking to incorporate charitable planning into their practice. Doing so will not only forge deeper, more meaningful relationships with your valued clients now, but it will also set you up for success with the next generation who have a strong desire to give back.

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.

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