ThinkAdvisor Recap: Two Seasoned Experts Share Top Ways Advisors Can Grow Their Practice – Key Takeaways

1. Move Philanthropy Out of the Year-End Tax Box

Treating giving as a December tax exercise leaves value—and relationships—on the table.

• 85% of affluent households give annually, so the conversation will surface in every year-end review; treat it as an opening, not a checkbox.
• 91% of HNW want philanthropy addressed early, yet only 47% are satisfied with the conversation they’re getting.
• Small annual gifts are as revealing as headline-grabbing mega-gifts—use both to learn a client’s values and passions.
• Make philanthropy an ongoing, year-round conversation rather than a fourth-quarter afterthought.

2. Lead With the Meaning, Not Just the Math

The tax analysis is automatic; the deeper value comes from the “why” behind a client’s giving.

• The “math”—tax benefits and cost—will always be there; the “meaning” is what deepens the relationship.
• Ask the “why” questions: what motivates them, what problems they want to solve, whether they want children involved, whether anonymity matters, and whether their focus is lifetime or legacy.
• Over 80% of HNW clients expect values-driven conversations, and that work surfaces goals numbers can’t.
• Reframe cost: when a client sees how a vehicle serves their goals, “expensive” becomes “worth it.”

3. Whoever Leads the Philanthropic Conversation Leads the Relationship

The advisor who owns the giving conversation tends to coordinate the broader plan—and manage the assets.

• Many clients say their advisor never goes deep enough on values-based planning, which opens the door to competitors.
• A communication gap can derail even a straightforward gift—one advisory team was blindsided by a client’s $1 million donation because they only handled the small annual gifts.
• Neglecting the conversation risks losing not just the client’s assets, but the next generation’s.
• Going deeper is a differentiator: about a third of advisors admit they could be doing more.

4. Match the Vehicle to the Client’s Goals

The right structure follows from what the client actually wants to achieve—not the other way around.

• Simple local or 501(c)(3) giving is easily handled through a donor-advised fund (DAF); legacy, international, or scholarship goals often point to a private foundation.
• Hands-on scholarships and international grantmaking may require advanced approval (equivalency determination or expenditure responsibility), which a foundation supports.
• Know the directionality: assets can move downstream from a foundation into a DAF, but not upstream from a DAF into a foundation.
• Many clients don’t need to choose just one—a foundation and a DAF can work together as a complete philanthropic toolkit.

5. Don’t Let a Missing Mission Statement Stall the Plan

Foundations and DAFs offer flexibility that public charities don’t—so clients can start before every detail is settled.

• Mission statements matter most for public charities; private foundations and DAFs have far more leeway.
• Clients can establish the vehicle, set up governance, and define their focus over time.
• The vehicles are built to pivot—later generations can carry a founder’s focus forward or address new priorities.
• Don’t let the absence of a mission statement delay an important decision; it can come later.

6. Engage the Rising Forces in Philanthropy: Women and the Next Generation

Women and younger donors are reshaping how giving happens—and they expect a different kind of advisor.

• Women will control an estimated $34 trillion in assets and increasingly drive family philanthropy with impact-focused, creative strategies.
• Explore growth tools like program-related investments (PRIs), which can satisfy a foundation’s 5% distribution requirement while returning capital.
• Millennials and Gen Z put the cause first—they research, volunteer, and mobilize before they give, and they expect digital-first tools.
• With an estimated $18 trillion transferring to the next generation for philanthropy, ask younger clients what they care about and help them explore it.

7. Use Philanthropy to Build Multigenerational Relationships—and Start Now

Shared giving strengthens families and gives advisors a rare seat at the table with future clients.

• Families who build traditions around giving grow closer; senior generations can use governance to foster leadership in younger ones.
• A board meeting is a chance to listen—learn what a family values, and spend time with the heirs who are your future client base.
• Engage younger members with simple, meaningful assignments (research a cause, then direct a gift to it) and digital tools that make giving tangible.
• There’s no bad time to start: begin small, begin before tax season, and pull in a specialist if you need help.

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Philanthropy may not be the first thing an advisor is asked about—but it may be the conversation that matters most to a client’s sense of purpose and legacy. The advisors who lead with meaning, not just math, are the ones who deepen relationships, differentiate their practice, and earn the trust of the next generation.

For advisors, the philanthropy advantage starts with a single, values-driven conversation—and there’s no better time to begin than now.

To learn more about these takeaways and other important insights, watch the full conversation.