Talking about philanthropy with your clients gives you a better understanding of their values and hobbies.
Most importantly, it also helps you touch on the topics of estate and tax planning if you haven’t yet had a chance to offer your services.
The only problem is it can be a hard subject to broach. So, FinancialPlanning.com has offered some tips on how to start the donation discussion with clients.
They list 10 situations that can help you bring up philanthropy. They include:
The death of a loved one: Though it’s a sensitive time, grieving families often ask for donations in memory of a their lost family members. Happier occasions like a child’s graduation can also spur the desire to donate, with some families wanting to mark the occasion by giving to their child’s favourite charity.
Securities have appreciated: Rather than sell an appreciated security, clients can gift it to a charity and avoid paying capital gains taxes.
Incoming inheritance: If one of your customers is about to receive a large sum, ask if they’d like to donate any of the money. Read more to find out the other 7 times to bring up charitable giving.