Many advisors who work regularly with high-net-worth clients do not routinely address charitable giving. When it is addressed, it is usually part of estate planning. Despite this death of discussion, a recent study revealed that many wealthy clients are interested in learning more about their charitable donation options. The 2016 study surveyed high-net-worth households and found that 91% had donated to charity in the previous year. Of those surveyed, nearly all respondents desired to learn more about giving choices, but only about one-third had actually discussed the topic with their advisor. It is important for advisors to recognize this opportunity and initiation a productive discussion.
See Amanda K. Dichello, A Primer for High-Net-Worth Donors, Private Wealth, December 6, 2017.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.) for bringing this article to my attention.
