Giving talk: Go holistic

OCT 20, 2013
Want to engage your clients and pave the way for a long-lasting relationship? Try discussing their philanthropic goals. Though nine out of 10 financial advisers, and trust and estate attorneys, discuss philanthropic giving with their clients, many of them are doing it wrong, according to a recent study of 312 advisers, attorneys and accountants by U.S. Trust Institutional Investments & Philanthropic Solutions and The Philanthropic Initiative, a consultancy on giving. The study found that even though 89% of the financial professionals polled are having the philanthropy conversation, only 41% of high-net-worth individuals are satisfied with these discussions. “Clients don't care who is initiating the conversation, as long as it's brought up in a meaningful, holistic sense,” said Claire Costello, national philanthropic practice executive for U.S. Trust. “They don't just want the tax benefits or the technical conversation. The initial takeaway is for advisers to ensure that they're approaching this from a holistic point of view.” [email protected] Twitter: @darla_mercado

Latest News

More data isn’t the same as more clarity
More data isn’t the same as more clarity

Flyer on wealth management data aggregation, AI agents, and closing the insight-to-action gap.

Ex-JPMorgan banker refiles harassment claims in federal court
Ex-JPMorgan banker refiles harassment claims in federal court

Chirayu Rana has added two executives as defendants after dropping his state case against JPMorgan Chase last week.

Betterment lawsuit just scratches the surface on cash sweep conflicts, says Max CEO
Betterment lawsuit just scratches the surface on cash sweep conflicts, says Max CEO

A class action over the digital brokerage's cash sweep program only hints at an industry-wide reckoning over how client cash is handled, says Gary Zimmerman.

Pontera launches bulk rebalancing to ease advisors' 401(k) workload
Pontera launches bulk rebalancing to ease advisors' 401(k) workload

New tool lets advisory teams manage shared retirement-plan accounts en masse as Vanguard retirement plan data show rising exposures to equities across demographics.

Survey finds many Americans don’t know their own net worth
Survey finds many Americans don’t know their own net worth

Three in four Americans can’t estimate their net worth without checking an app or account, according to a new Western & Southern survey.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income