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For your charitable clients, philanthropy is about so much more than making donations. It’s how they share values across generations. It can help them express personal and family interests and ignite passions and creativity. And it’s a way for them to foster family relationships and gain stronger ties to a community. As their trusted advisor, you play a vital role in their wealth management and legacy planning and when these objectives are aligned with their philanthropy, you can help them enhance their giving. Here are six key opportunities for advisors to help you better support your philanthropic clients.

  1. Expand the client discovery process. This should include a discussion of charitable goals, which can help uncover your client’s unspoken aspirations and interests.
  2. Address philanthropy as part of the financial plan. This can lead to multi-dimensional relationships and new pools of assets. As appropriate, philanthropy can also be part of your client’s investment policy.
  3. Help clients evaluate charitable vehicles. Conduct research based on their giving style and long-term objectives. For tips, check out our helpful resource Private Foundations & Donor-Advised Funds.
  4. Create client connections. Bring like-mind people together to learn and collaborate within your practice, and more broadly, within your community.
  5. Source technical expertise. This will help your clients advance their philanthropic missions and provide a complementary perspective to yours, delivering a more complete service experience.
  6. Check in with clients. Touch base periodically with your clients to diversify your conversations, evolve your relationship, and demonstrate the link between their financial plans and the realization of personal passions.

If you’re ready to deepen the relationships with your most charitably-inclined clients and set your practice apart from the crowd, consider discussing their philanthropic objectives with them. Want to learn more and see the meaningful trends that have emerged with family offices and financially successful families over the past two decades? Check out our complete resource.

Want to help families make the most of their philanthropy?
Talk to our philanthropic specialists about the ways you can best support your clients who are passionate about giving and want to start a private foundation. Schedule a call with us here or reach us at 800-839-0054. Together, let’s #begiving.

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