Philanthropy in Focus: Identifying Your Charitably-Minded Clients
Recognizing charitably-minded clients is a key skill for advisors who want to go beyond traditional financial planning to help their clients make a more meaningful impact. By identifying clients who have (or will likely develop) a heart for giving, you can help them maximize their contributions and strengthen your professional relationship with them.
Here’s a short guide on how to spot potential philanthropic clients:
Signs You’ve Got a Giver
Your charitably minded clients might share some of these traits:
- They’re Already Giving: Clients who donate to causes, support local charities or give to their place of worship are clear candidates.
- They Care Deeply: They’re passionate about their community or specific causes that they believe in.
- They Want to Leave a Legacy: They’ve talked about making an impact that lasts beyond themselves.
- They’re Tax-Savvy: They’re interested in strategies that can minimize their tax burden while doing good for others.
- They Want to Start: Even if they haven’t begun giving, they’re excited by the idea of making a difference in and around their communities.
Financial Clues That Point to Philanthropy
Sometimes the numbers tell the story. Your client might be ready for charitable planning if they:
- Have highly appreciated assets they’d like to donate instead of selling.
- Own large IRAs and want to explore tax-smart estate strategies (especially with Secure Act 2.0 in mind).
- Are managing a significant estate and are concerned about taxes.
- Have limited heirs or want to spread their wealth beyond family.
- Are navigating a business sale or have life insurance proceeds from a former business partner.
- Have had a windfall year and want to preserve cash by giving non-cash assets.
We’re Here to Help
The Community Foundation can be your go-to resource for identifying and serving these clients. With tools like Donor Advised Funds and a deep connection to a variety of area nonprofits, we can help you craft a plan that aligns with your client’s goals. Get in touch today with our Development Officer, Maria, at mwalden@cfneg.org.
