Giving talk: Go holistic

Want to engage your clients and pave the way for a long-lasting relationship? Try discussing their philanthropic goals. Though nine out of 10 financial advisers, and trust and estate attorneys, discuss philanthropic giving with their clients, many of them are doing it wrong, according to a recent study of 312 advisers, attorneys and accountants by U.S. Trust Institutional Investments & Philanthropic Solutions and The Philanthropic Initiative, a consultancy on giving. The study found that even though 89% of the financial professionals polled are having the philanthropy conversation, only 41% of high-net-worth individuals are satisfied with these discussions. “Clients don't care who is initiating the conversation, as long as it's brought up in a meaningful, holistic sense,” said Claire Costello, national philanthropic practice executive for U.S. Trust. “They don't just want the tax benefits or the technical conversation. The initial takeaway is for advisers to ensure that they're approaching this from a holistic point of view.” dmercado@investmentnews.com Twitter: @darla_mercado