Giving is Good Business

"There's magic in giving"

~ Glenn Stewardson CFA, CFP

Are you a financial professional (“FP”), such as a Financial Advisor, tax accountant, corporate, estate or tax attorney?  Or are you an individual who is a client of one of the above financial professionals?

There is very strong evidence that clients truly appreciate when their financial advisors are intentional about discussing tax-advantaged charitable giving with them, and in fact, this strengthens the relationship between you and your clients a vast majority of the time.

In 2018 a consortium of respected voices in Canada’s philanthropic industry published a fantastic resource called “Doing Good for Business - The Inclusion of Philanthropy in the Canadian Professional Advisor’s Business Practice”. Some highlights from this research report:

  • Philanthropy is often characterized as “the glue that binds clients’ loyalty to their service with such strength that the loyalty sometimes spans across several generations.
  • All financial professionals who were interviewed for this research report agree that it is perilous to ignore the charitable intent of clients.
  • The philanthropic conversation opens up unforeseen opportunities to deepen the relationship, and many financial professionals report greater job satisfaction with increased focus on generosity with their clients.
  • Often the conversations move from the mechanics of tax-savings to the reason and impetus behind the generosity and provide a human connection.

Wow! The truth is that when wealth of any measure is being discussed and planned for, it does every person involved a measure of good to include generosity in the conversation.

To take the next step of moving toward action on this, whether you are an financial professional or an individual who wishes to bring your charitable giving into the equation of your wealth planning, the research report I have been referencing is a very valuable resource.

View Doing Good For Business: The Inclusion of Philanthropy In the Canadian Professional Advisor's Business Practice for yourself.

As always, we would be thrilled to answer any questions you may have!

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