Webinar Replay: Next-Gen Wealth & Purpose - Empowering Advisors to Integrate Charitable Giving into Financial Planning

Estimated recap reading time: 2-3 minutes

Key points from the webinar:

• Daniel Crosby, the Chief Behavioral Officer at Orion, discussed how money and happiness are not directly correlated, and that giving money away can provide a significant boost to happiness.

• Hiram Grenny from UI Charitable explained that charitable giving is often viewed in a binary way (tax benefits vs. altruism), when in reality the two can be combined for greater impact.

• Advisors may be hesitant to discuss charitable planning with clients, thinking the clients are not interested, but research shows clients often appreciate these conversations.

• Technology tools like Asset Map can help advisors visualize the impact of charitable giving and make these conversations more engaging for clients.

• UI Charitable's donor-advised funds (DAFs) provide flexibility in funding, managing, and distributing charitable assets, allowing advisors to retain these assets under management.

• UI Charitable's DAFs can accept a wide variety of non-traditional assets like business interests or cryptocurrency, helping clients with tax planning.

• Integrations between platforms like Asset Map, Orion, and UI Charitable make it easy for advisors to incorporate charitable planning into their client conversations.

• Advisors should approach charitable planning conversations indirectly, focusing on the client's values, legacy, and personal stories, rather than just asking about favorite charities.

• Charitable giving can deepen the advisor-client relationship and lead to more referrals and assets under management for the advisor.

• Clients are often more motivated by personal values and emotional fulfillment than just tax benefits when it comes to charitable giving.