Updated Saturday, July 26, 2014 as of 11:11 AM ET
Portfolio - Philanthropy
Not Talking Philanthropy Can Be a Money-Losing Mistake
Sunday, December 1, 2013
Print
Email
Reprints

Advisors are good at many things, but talking to their clients about philanthropy is not one of them. According to an August study by U.S. Trust and the Philanthropic Initiative, high net worth clients who report having discussed philanthropy with an advisor say their advisor initiated the discussion just 17% of the time. An earlier study by U.S. Trust found that 95% of wealthy investors donate to charity. That's a big gap. "Advisors could be doing much more to connect with their high net worth clients about their philanthropic goals," says Claire Costello, national philanthropic practice executive for U.S. Trust, Bank of America Private Wealth Management, who was involved in the first study.

Get access to this article and thousands more...

All On Wall Street articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, blog discussions, the iPad App, CE Exams, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our daily or weekly e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and growth strategies.

Already Registered?

Lists
2014 Summer Reading List for Advisors

Current Issue

The June Issue is now online!


TWITTER
FACEBOOK
LINKEDIN

Industry Events

August 10, 2014 |

September 9, 2014 |

September 17, 2014 |

September 20, 2014 |

September 28, 2014 |

Already a subscriber? Log in here