..... but only 40 per cent of advisers are informed about their clients’ interest in the topic.

This disconnect is reflective of a broader cultural trend in Australia, which has seen a reluctance among many to talk about their charitable giving.

However, things are starting to change, and with an increasing number of high-profile Australians publicly sharing their stories, it seems philanthropy is becoming more socially acceptable to discuss.

For advisers, this means it is vital to start including this topic in client conversations. Clients are moving away from the idea that their adviser will only provide advice on how to manage and grow their investments and are increasingly seeking guidance on how to use their wealth to support their communities.

Talking about philanthropy adds another dimension to client relationships by providing an opportunity to really understand the client’s values and connect on another level. By incorporating philanthropy into their service offering and initiating conversations, advisers can stimulate greater demand and play a pivotal role in helping clients become more philanthropic.

There may be an increase in the overall level of philanthropic giving if advisers become more active in discussing this topic with their clients. This would not only help advisers add value for their clients, but would have the benefit of adding value to the broader community too.

22/07/2013
Laura O'Rourke
Source:  Professional Planner    www.professionalplanner.com.au