Much has been written about the benefits that clients derive from discussing their philanthropic goals with their wealth managers; much less has been said about the benefits that the advisors themselves derive. In fact, wealth managers have much to gain when engaging their clients around their philanthropy.
Here are a few of the ways providing private foundation services can benefit your practice.
A discussion about philanthropy provides an opportunity for you to develop a better understanding of your clients’ core aspirations and values, and forge deeper connections with them. Moreover, if you are able to speak confidently and knowledgeably about their philanthropic options, your high-net-worth clients are more likely to view you as providing a more holistic approach to wealth management.