Differentiating with charitable planning

A 2024 study by Fidelity Charitable^®, “Differentiating with charitable planning,” highlights how advisors can lean into charitable discussions as a way to enhance existing relationships and attract affluent and high-net-worth clients. The study is based on research conducted across two surveys — to both registered investment advisors and broker-dealers as well as mass affluent and high-net-worth individuals.

Our study showed that while high-net-worth clients are typically very engaged in charitable giving, advisors reported speaking with fewer than 60% of their clients about charitable planning and tax strategies. This highlights a potential missed opportunity for advisors to enrich their services.

More key takeaways from the study:

• You may be underestimating your clients’ dedication to giving. Eighty-five percent of high-net-worth respondents reported giving to charity, with 72% saying they give at least $10,000 annually.
• You can deliver more expertise and value to your clients with tax-smart giving strategies. Less than one-third of donors have discussed qualified charitable distributions from an individual retirement account with their advisor, even though many could be facing a required minimum distribution.
• You can grow your practice with charitable planning. Nearly half of registered investment advisors report that discussing charitable planning with their clients has helped them nurture those relationships, while 60% said these conversations help them attract new clients.

Download the study insights to learn more.