Is Your Practice Missing Out on Charitable Expertise? 

Charitable Expertise

As a financial advisor, it may be a knee-jerk reaction to bristle at the thought of helping your clients GIVE their money away. It’s counterintuitive, maybe even counterproductive, to the value you’re providing to your clients…isn’t it? Not according to today’s leading advisors—in fact, they’re actively engaged in making charitable expertise a part of their practice. They’ve recognized that in order to deepen relationships with their clients, philanthropy needs to be a part of their conversations and integrated into the planning process. Here are three reasons why charitable expertise fits into a wealth management practice.  

#1: 7 out of 10 Wealthy Investors Identify as Philanthropic
If you have a high-net-worth practice, at least two-thirds of your clients are charitably inclined. Talking with them about their philanthropic interests gives you an opportunity to connect with them on a personal level. Read more about the research here.  

“An advisor who’s not considering clients’ philanthropic motivations would be doing themselves a disservice. And the reason is because there’s an overwhelming amount of empirical research that shows an increasing number of families, particularly driven by the younger generations, are expecting that their financial advisors will have that tool in their toolkit.”
— Principal from a multi-family office advising on more than $7 billion in discretionary client assets
 

#2: Philanthropy & Wealth Management Intersect
When charitable strategies are closely coordinated with the three disciplines of investing, estate planning and tax management, the outcomes will always be better for your client. This ensures you deliver a world-class client experience, magnifying their efforts for higher impact.

#3: Family & Legacy Help You Engage More with Your Client
Your HNW clients have aspirations that often revolve around their families and their own legacy. Philanthropy is a door that invites you into a more nuanced and layered understanding of the people you’re serving—one that extends beyond the strict scope of wealth management.  

Two More Compelling Reasons to Offer Charitable Support
Check out our complete resource to learn more about why charitable expertise should be part of your practice.  

Want to talk to a philanthropic specialist?
We’re here to help. Schedule a call or reach us at 800-839-0054 to learn how we can best support your clients who are passionate about giving. Together, let’s #begiving.