5 Reasons Philanthropy Is An Untapped Growth Engine

Financial services providers looking for ways to grow business may be missing out on an opportunity that is right under their noses. Today’s wealthy families are looking for an integrated approach when it comes to their financial planning—one that’s comprehensive and reflects their personal values and passions. They need more help in one key area that many advisors are leaving on the table: philanthropy. In fact, most wealthy families need more assistance, which is an opportunity for advisors. In our research, we found that 73.7% had no clearly defined philanthropic goals and 73.1% were not receiving any formal guidance. What’s more, 84.5% had no philanthropic advisor to guide them.

By integrating charitable planning into financial planning, businesses will deepen relationships with their most valued clients, which can lead to elevating the client experience and ultimately more referrals. Here are five reasons why philanthropy is a powerful growth lever.