It’s Time to Talk About Philanthropy

Starting a philanthropic conversation with your clients in just 3 simple steps.

The world of philanthropy, charitable endeavours and impact investments can sometimes seem like a maze and difficult to navigate.

But it doesn’t need to be.

With an increasing number of clients interested in doing something with a real impact and purpose, here are three simple steps to help you engage with your clients and help satisfy their philanthropic needs.

1. Start the conversation early. Your clients’ needs or interests may develop over time, but by discussing philanthropy early, you can add significant value to your client relationships from the outset. Even if they aren’t ready to act immediately, we have found that advisors who integrate charitable giving as part of their initial overall discussions are better placed to offer philanthropic advice when your clients are ready to make their first move.

2. Understand their motivations and interests. Philanthropy is personal. It is often described as a journey and not a destination. Therefore, there is not a one-size-fits-all approach as every journey is different. The questions you ask should offer an invitation for your clients to express themselves and their motivations. Is legacy their main interest? If so, what is their vision for the world they want to leave behind? Are they more interested in uniting their family around common goals, or are they simply driven by a desire to give back to society?

3. Take time to consider all the philanthropic tools available to your clients, and what best suits their needs. For example, donor-advised funds are increasingly popular giving vehicles in philanthropy. Many donors choose them as an alternative to setting up their own charitable trust or foundation due to their convenience, tax, efficiency and unrivalled flexibility in terms of contribution and investment options.

When done correctly, a productive conversation about charitable giving can help deepen client relationships. A combination of confidently addressing both personal goals and the more technical aspects of giving will help you play an integral role in this important area of your clients’ lives.

For more information on how NPT UK can support your clients’ philanthropic journey, please contact us.

About the Author

Natalie Pinon is Executive Director, Development at NPT UK. She has over 15 years of experience working with philanthropists and impact investors to manage their giving.