A Philanthropic Way to Get 10+ Referrals Annually
by Matt Oechsli | @mattoechsli
“It seems like your research is telling us to get involved with our client’s charities,” Ted stated as he set the groundwork for his question. “But how does one find all the time that’s going to be required?”
- Had a social lunch
- Worked alongside in charitable efforts
- Did something socially
1. Know each client’s charitable interests.
Our affluent research suggests that not all financial advisors are doing as well as they could in this area. Only 44 percent of today’s affluent think their advisor knows their charitable interests.
We recommend systematically gathering personal information, which will include their charitable interests. This needs to be approached with care, as you don’t want to make a client feel guilty if they don’t have any charitable interests.
2. Get more information about the organization.
What is their mission and cause? What’s the scope of the charity? Is it local, state, or national? What type of fundraisers do they hold? How are the funds distributed?
3. Determine each client’s involvement.
Some clients may simply contribute money, while others might be more involved; on boards, chairing committees, etc. If your client’s involvement is donating money, you can make a donation in your client’s name—however it’s not the same as working alongside your client at a fundraiser.
4. Determine how you can get involved.
Now is the time to inquire about the specifics. What is actually involved? What time commitment would you be looking at if you got involved? Is manual labor involved? (building a house if you have a bad back isn’t a good idea) Who will be involved? What’s the ultimate goal of the charitable event?
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