Philanthropy Australia’s Post

Name: Why should you talk to your clients about philanthropy?
Uploaded: 2024-06-20T05:06:20.045Z
Channel: Philanthropy Australia

Philanthropy Australia

25,641 followers

4mo Edited

Why should professional advisors talk to their clients about philanthropy? This important question is explored in the video below. It's important to note that talking about philanthropy is beneficial not just for your clients, but also for yourself, and the broader community for whom their giving impacts. To learn more about discussing philanthropy with your clients, download our Professional Advisor Guide to Giving: https://lnkd.in/gK_D2Wgf #philanthropy #australiagives #doublegiving #professionaladvisors

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Every day you provide guided advice to your clients, including philanthropy, and your advice toolkit is good for your client, but it is also good for you, and here are some of the reasons. Australia will shortly experience the largest intergenerational wealth transfer in its history. Over the next two decades, around $2.6 trillion is expected to pass to the next generation. Client retention is vital in the US. Just 38% of investors retain the same advisor when their spouse dies, and that number drops to 29% when both parents have passed and children inherit their assets. In the UK, over 90% of next gens promptly change advisors when they receive their inheritances. Philanthropy can help move the dial on these sobering statistics, strengthening client relationships and providing that hook to the next generation. So what is philanthropy? Philanthropy. Is a voluntary donation of money, goods or time to be utilised for the public good, sometimes called the five T's, that being time, talent, treasure, ties and testimony. The government provides support for philanthropy by providing tax deductibility of donations. This can often be the segue to client engagement in charitable giving, especially when they are facing a large taxable transaction such as the sale of a business or other capital asset. Tax planning generally should include charitable giving options. In an advice context, we are talking about structured philanthropy, which involves donating money via vehicle rather than ad hoc and direct giving. Philanthropic vehicles include private ancillary funds, public ancillary funds and private foundations or Charitable Trusts. Structured giving formalises a client's charitable contributions to social, environmental, cultural and community causes they connect with and helps to create a holistic plan for the asset management over not just the client's lifetime, but with the next generation. You'll also find that discussing approaches to giving and who to give to helps prime family members for financial decision making and positive engagement with you as a trusted family advisor. And last but not least, you can work with your clients to create an Australia we all want to live in. Philanthropy means your client can make a difference with their wealth in a way that is meaningful for them. Philanthropy Australia has set out a bold plan to double structured giving in Australia by 20-30 Imagine. $2.5 billion in additional funds available to our charities each year to help Australians in greatest need. You can be a part of the change we all want to see.

Ryan Ginard, CFRE

International award-winning social & political change author | Advocacy @ Minderoo Foundation | Founder of Fundraise for Australia

4mo

Susan Chenoweth PMESA - good timing!

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Aaron McNeilly

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💡 A brilliant video from Philanthropy Australia on why professional advisers should talk to their clients about philanthropy. If anyone in the professional advisory space (#accountants, #lawyers, #wealthadvisors) have any questions, please send me a direct message - happy to assist! #EOFY #OptionsOtherThanPAFs #structuredgiving

Philanthropy Australia

25,641 followers
4mo Edited

Why should professional advisors talk to their clients about philanthropy? This important question is explored in the video below. It's important to note that talking about philanthropy is beneficial not just for your clients, but also for yourself, and the broader community for whom their giving impacts. To learn more about discussing philanthropy with your clients, download our Professional Advisor Guide to Giving: https://lnkd.in/gK_D2Wgf #philanthropy #australiagives #doublegiving #professionaladvisors

Why should you talk to your clients about philanthropy?
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National Network of Consultants to Grantmakers (NNCG)

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Now is the time to complete the survey and we need you! 🙌🏾 Every response makes a difference in helping us better understand the role of consultants and advisors in helping grantmakers advance their philanthropy. Before it’s too late, share 10 minutes of your time now to complete the National Philanthropy Benchmark Survey >>> 📋 https://lnkd.in/e-Y9QPs9 #NNCG #NNCGisWE #philanthropy #consultants #BenchmarkSurvey #GetInvolved #SubmitYourResponses
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The Joy of Giving Back: Philanthropy as a Business Model 💖🤲 Incorporate philanthropy into your business model for joy and purpose. Learning from businesses that have grown by giving back. #BeYouFREEDOMQUEST #Philanthropy #BusinessWithPurpose
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📣 We need you! Take the 2024 Philanthropy Benchmark Survey and share your insights on the role of consultants and advisors in helping grantmakers advance their philanthropy. The National Network of Consultants to Grantmakers (NNCG) and @21/64 are partnering on this survey to assess the practice of philanthropy by understanding the behavior and attitudes of grantmakers and the consultants and advisors who serve them. 10 minutes tops! Start here>> https://lnkd.in/e-Y9QPs9 #NNCG #NNCGisWE #philanthropy #consultants #BenchmarkSurvey #GetInvolved #SubmitYourResponses
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📣 We’re extending the National Philanthropy Benchmark Survey deadline! We are extending the survey through the first week of June to give an extra week for responses to roll in and the survey to be shared within your networks! Don’t miss this opportunity to be a part of something that will help us all better understand the role of consultants and advisors in helping grantmakers advance their philanthropy! 🔗 Do your part and start here>> https://lnkd.in/e-Y9QPs9 #NNCG #NNCGisWE #philanthropy #consultants #BenchmarkSurvey #GetInvolved #SubmitYourResponses
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This chapter from our Guide to Giving gives an excellent introduction to the philanthropy journey, and the motivations of the individuals, families and foundations who are looking to make a difference: https://lnkd.in/durAAr9Y #BarclaysPrivateBank #GuidetoGiving #Philanthropy #Philanthropists
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As you reflect on the last year and ponder the future take the time to consider your legacy. Leaving a legacy is an act of selflessness. It is a way to ensure that your values and beliefs continue to live on even after you are gone. One way to do this is through philanthropy. By giving back to the community, you can make a positive impact that will last for generations to come. The Christchurch Foundation can help you plan your legacy. For more information go to https://lnkd.in/g4zUBd4z #philanthropy #leavingalegacy #givingback #enduringtransformativechange #endowments
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Philanthropy is a powerful tool for bringing generations together within family businesses. If addressed properly, giving back can strengthen family business’ shared purpose and values for continuous success. In this blog, PwC shares different approaches that family businesses take to make an impact in communities. Read more here. #PwCPrivate #FamilyBusiness #Philanthropy

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Philanthropy Australia’s Post

Why should you talk to your clients about philanthropy?

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Why should you talk to your clients about philanthropy?

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