Wealth advisors know that high-net-worth clients typically look to them for guidance around their charitable giving. That’s why conversations around philanthropy are becoming increasingly commonplace— especially during year-end client meetings. However, there’s a big difference between “having a conversation” and having a productive conversation.
Our experience managing nearly 2,000 private foundation clients suggests that when it comes to advising their philanthropic clients, there are three distinct traps for the unwary advisor:
[callout]If you’re not counseling your clients around their philanthropy, you could be missing an opportunity to get to know them on a deeper, more meaningful level.[/callout]