Seminars Profile
 

Philanthropic support services

We have approaches to help advisors expand and deepen their practice through incorporating strategic philanthropy as a core offering.

As strategic philanthropy becomes more mainstream, wealthy families need more sophisticated advice from their financial advisors. This advice is not purely financial in nature, because a family’s decision to engage in philanthropy is multifaceted and is meant to serve several goals. An understanding of these goals is essential for advisors to deliver on their promise of holistic wealth management and become a trusted advisor to the family.

Becoming involved in the family’s philanthropy is also a way to engage the junior generations and build relationships with the future owners of the family’s assets.

Some other reasons for offering philanthropic support services are:

  • Way of differentiating your practice from others who are more transactional in their approach
  • Build deeper and longer-term relationships with the client, which is more satisfying for both the client and the advisor
  • Bridge to building relationships with the inheriting generation, as families often use philanthropic projects to keep the family united and transfer values to the next generation
  • Increase chances of managing more of clients’ assets, as they entrust more of their overall wealth planning to the advisor
  • Investment capital must also be managed
  • Build more value as a problem solver, i.e., when the sale of a business or other sudden wealth event triggers a tax liability
  • Build relationships with related financial professionals in the course of providing holistic solutions for clients, which will expand the advisor’s referral base and strategic partnerships

Under the growing influence of local and internationally known social entrepreneurs, philanthropy has become a high profile and prestigious endeavour. Philanthropy, along with its leading practitioners, has garnered widespread media coverage across North America.

Donors are becoming more strategic in their approaches to charitable giving, and need increasingly sophisticated assistance from financial professionals to explore various options which will be of mutual benefit to them and the receiving charity. They are also expressing a deep interest in imbuing their heirs with a philanthropic spirit.
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