For Financial Advisors

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Top 10 Reasons to Discuss Philanthropy with Your Clients

Research was conducted by the Philanthropic Initiative in the late 1990’s with professional financial advisors. It explored their motivations for and methods of providing advice on philanthropy. The research has revealed ten reasons for discussing philanthropy with clients.

  1. It’s good for society, it’s good for community, it’s good for clients, it’s good for business, and it’s good for you!
  2. Many clients are searching for an effective way to give back to their community, to memorialize a loved one, and/or simply to “do good”. Financial advisors can help clients achieve these results, and derive personal satisfaction in doing so.
  3. Discussing philanthropy with clients can be done unobtrusively, in a way that respects their privacy, values and autonomy.
  4. Philanthropy discussions expands the menu of services offered to clients, build confidence and might increase levels of satisfaction clients experience with you and your professional services.
  5. Broadening areas of expertise as a professional advisor makes good sense.
  6. The potential for new referrals is enhanced.
  7. You can connect the profession of financial advice with the personal motivation to do something good for the community
  8. Your efforts can help address important social needs in the community.
  9. You become part of a supportive network of like-minded colleagues in the financial advice business.
  10. With practice, confidence and experience, it gets easier to talk to clients about philanthropy.

Source: Doing Well by Doing Good, published by the Philanthopic Initiative, June 2000