During a market downturn, it may feel like a duck-and-cover approach is the safest place to be as an advisor who is working with frustrated investors. But life continues to go on—whether markets are up or down. Investors sell businesses. They need help with estate planning. And they seek to channel their energy to positive outlets, engaging in activities that can result in meaningful, enduring change. So, while it may seem like the “wrong time” to discuss philanthropy with your HNW investors when they’re discouraged by a market downswing, this may be the perfect opportunity to provide a sense of clarity and calmness to their overall wealth management strategy.
And for your HNW clients who are go-getters, philanthropy may be the spark they need to spur progress. For advice on how to start the conversation with your clients, Financial Advisor spoke with Foundation Source’s Head of Client Advisory Solutions, Gillian Howell. Check out the article here for six steps on how to drive change.
Looking for more advisor resources?
Check out our white paper, Why Charitable Expertise Should Be Part of Your Practice.
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