By Greg Hammond, CFP®, CPA
The most effective and rewarding philanthropy—to the giver and to society—comes when giving is an extension of your values, interests, and goals.
Expressing yourself through generosity that reflects personal and emotional relevance can excite you in a way that no obligatory gift ever will. In turn, this leads you to invest even greater amounts of your time and talent in seeking solutions for a better world.
In our practice, we find that that only a small percentage of financial advisers consistently raise the topic of charitable giving with their clients. And few go beyond conversations on the tax implications to ground the discussion in their clients’ values and interests.
Having spoken with hundreds of people on charitable giving, we know that clients want and expect objective advice about how to realize their philanthropic goals, navigate a sea of information, and find the right charitable giving mix.
During our meetings, we build deeper, richer relationships with our clients and get to know their children and grandchildren. We find that before we conduct a “family meeting of the minds” younger generations often feel emotionally detached from their parents’ money and their trusted financial advisors. Engaging in the family’s philanthropy gives children of any age a sense of connection to their wealth’s purpose and thus a strong connection to shared family values.
Think of Charitable Giving as an Opportunity Rather Than an Obligation.
Many times we find that peoples’ perception about their own finances is the biggest hurdle. They worry so much about not having enough money for themselves or their children that they can’t think about being more charitable.
Often People Don’t Know the Actual Magnitude of Their Assets and How to Leverage Them.
We give clients the tools, technology, and strategies they need to gauge how much they have and how much they need to meet their needs. Once they have peace of mind that their needs are met, our goals-focused conversations help map the impact they hope to have so they can build their living legacy.
Learn how you can begin to give with impact and get a FREE chapter of our book, “You Can Do More that Matters” here.
Tired of mixed messages and bad advice when it comes to investing and building your legacy? Our investment strategies and private conversations help Main Street investors navigate the sometimes confusing and overwhelming investing process. Get on track toward reaching your financial and lifetime goals with a Financial MRI Assessment, call (800) 416-1655 or email firstname.lastname@example.org to schedule yours today.