Financial, wealth and tax advisers can play an important role in supporting their clients with their philanthropic aims. Evidence shows that people receiving philanthropy advice tend to give more to charitable causes.
Philip Chapman, a financial advisor with Kellands, shares his experience of supporting clients who want to give to charity. Philip also holds a fund with Quartet, set up in memory of his late wife Alyson.
How did your relationship with Quartet begin?
My relationship goes back to the 1990s when a trustee of Quartet introduced me to the foundation. I kept in touch over the years and recently set up my own fund. I also referred a client who has set up their fund with Quartet.
How does charitable giving connect with the advice you provide your clients?
I see advising clients about charitable giving as part of my role. Some want their giving simplified and others want to do some good now because they’re not thinking about stewardship for the next generation. They’re often looking to me as their trusted adviser to guide them.
Timing is crucial and in my experience this comes when you know your client well. Once we have established that their financial future is secure, we can then discuss charitable giving.
I think having our family fund gives me personal experience to draw from. Quartet was there when I needed some support so I feel confident referring my clients. The key word is trust between all parties.
What has been your experience of referring to Quartet?
I mentioned Quartet to a client who was thinking of making some charitable gifts as I felt they matched her needs. I personally introduced her to Quartet and stepped back once the relationship was established. One of the huge benefits of setting up a fund for her was seeing the good that it was doing.
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For more information about how we can help you support your clients, please contact Angela Emms or call 07827 738 091.