Helping your clients learn how they can help others with a program of philanthropy.


Todd Crawley: This week we’re sharing ideas for helping your clients to learn how they can help others with a program of philanthropy. I’m Todd Crawley.

Jon Lagerstedt: And I’m Jon Lagerstedt, and this is The Essential Practice podcast.

Todd: Hey Jon, before we get going, I want to direct a couple thoughts to our audience. We would encourage you to find episodes 201 and 202 called “Giving the gift of giving” where we talked about how you can incorporate a program of charitable giving and volunteerism in your practice and how it benefits your clients. It’s related to the topic we’re just about to speak about today. So go back, look through the library; pull up episode 201 and 202 if you want to learn more.

Jon: In my mind, it makes so much sense for anyone, right, to share a common cause between the client and the financial advisor. There is another audience of potential clients or current clients that might have that same, vested interest.

Todd: And I know if my financial advisor talks to me about not just my investments, but all the other things that are important to me in my life, that advisor has my total well-being at heart.

Jon: By doing that and segmenting your client population, as a financial advisor, I think you can accomplish a couple of different things. One, if you’re putting together seminars or education around charitable trusts where you want to leave your legacy to a higher education institution, a hospital, or whatever it might be, I think you can be very targeted with servicing your clients.

And then also, figuring out: Do the clients have the ability to give away to charity and make those donations.

Todd: I think a great example of that is to give the example to the client of what you, as a financial advisor, do for your community. Whatever it is you do, I think it just elevates your stature to that client, number one, but number two, even if they don’t have a regular giving or philanthropy plan, it gives them ideas on what they can do. And I think that, again, helps you to paint the picture of the total relationship, not just the investment side of it for your clients.

Jon: Todd, one of the other things that might be meaningful to both the client and the financial advisor is to understand that, when they are investing and hoping to grow their charitable money, [seek to determine if] their portfolios are aligned with their values of what they’re trying to achieve.

You are seeing a whole new phenomenon of different types of investments where you have social governance and environmental aspects when building out a portfolio. And aligning that portfolio to the desires and needs of the client to get to their end result of potentially giving that to whatever charity may be.

Todd: I couldn’t agree more. So Jon, let’s wrap this discussion. And again, I want to remind our audience to check on programs 201 and 202: “Giving the gift of giving.”

But for now, I’m Todd Crawley.

Jon: And I’m Jon Lagerstedt, and thank you for listening to us here on The Essential Practice podcast.


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