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4 Big Reasons Financial Advisors Should Encourage Charitable Giving


                  A recent study by Fidelity offered this interesting insight:  while a majority of advisors believed that their clients are interested in receiving charitable advice, only slightly more than half (52%) proactively offered such advice.

                  For those offering such advice, they offered 4 big reasons for doing so:

1.     Charitable Planning Advice Improves Client Relationships.  When an advisor moves into the charitable area of a client’s life, they are inevitably tapping into the passion of an individual’s heart.  By touching the core, relationships deepen.

2.     It improves the advisors stature.  An advisor who offers charitable advice shows themselves as a broader financial expert.  They are not just tied to the markets but more interesting and unique strategies.

3.     It helps the advisor economically.  In the past, the charitable area might be exported to an advisor with skill in that area.  But by tapping into the charitable area, there is no separation.  Likewise, if an advisor is able to offer the option of giving closely held assets, they will often be able to manage assets that they could not otherwise do so.  See for more information on giving closely held assets.

4.     It leads to multigenerational relationships.  By offering charitable advice, an advisor will almost always end up meeting the children and getting involved in the giving, management and estate planning.  Charitable decisions involve each of those. 

For the advisor seeking to differentiate themselves from other advisors, there is no question that offering charitable advice is the smart way to go.

About Bill High

Bill High is an author of several books and co-author with David Green of Giving It All Away and Getting It All Back Again: The Way of Living Generously: You can find him at and sign up for his blogs there.

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