Three ways advisors can elevate client relationships through charitable planning

It might sound counterintuitive, but helping clients give money away to charity can be just as powerful as helping them build wealth. New T. Rowe Price research points to some compelling reasons to reconsider a focus on charitable planning.

For advisors who help clients with charitable planning, the study found that this work directly led to positive business outcomes: 21% gained new clients, 23% increased revenues, 31% received more referrals, 32% uncovered previously hidden assets, and 40% strengthened relationships with their clients’ heirs.

For investors who engaged in charitable planning with their advisors, 87% reported increased satisfaction with their advisor, 85% said their trust in their advisor increased, 88% were more likely to recommend their advisor, and 92% said they were more likely to remain clients. When you integrate charitable planning into holistic planning, you help clients see their wealth as a means of making an impact—and you deepen your value as a trusted guide.

Many advisors focus on wealth management but overlook their ability to guide clients in charitable planning—a missed opportunity to take relationships with clients (especially high-net-worth clients) to the next level. While 46% of advisors said their clients show limited interest in charitable giving, only 11% of investors said the same—highlighting a disconnect between advisor perceptions of the need versus the clients’ reality. 

Additional research points to this advice gap: Philanthropy is the most popular interest/passion of high-net-worth individuals and heirs, but only 37% of high-net-worth investors surveyed say their advisor helps them plan for it. In other words, investors want help aligning purpose with planning—and advisors who respond to that desire set themselves apart.

As a WealthManagement.com article observed, “Advisors don’t get philanthropy.” Perhaps not all do—yet. But this gap is also a great opportunity. Younger high-net-worth investors (ages 25–49) are especially motivated by legacy, empathy, and impact. They value advisors who help turn generosity into strategy.

Three ways to turn client generosity into a relationship-strengthening strategy

If your clients don’t know you can guide their giving strategy, they won’t ask—and they’ll look elsewhere. T. Rowe Price’s study shows that investors most often turn to CPAs for charitable advice. By leading these discussions yourself—and coordinating with centers of influence (COI)—you can fill a critical gap and deepen your client relationships.

1. Start by uncovering your clients’ giving mindset and goals

Begin by exploring what drives your clients to give to charity and how it connects to their financial story. Our study found that legacy, empathy, and personal experience are top motivators. Ask questions like: What causes do you care about most? How do you define impact? How would you like your family to be involved in charitable planning? This approach reframes philanthropy as part of the client’s identity, not just a tax tactic.

Advisors don’t have to do it all alone. Coordinate with tax and estate professionals, but position yourself as the point person who ensures that every element of the charitable plan supports the client’s goals. Clients who see this kind of collaboration tend to report higher trust and satisfaction levels with their advisors, according to our research.

The result: Clients get a clearer, more confident giving plan, your COI network expands, and your practice sees more opportunity to grow organically through deeper relationships and newly discovered assets.

"If you have a specific problem, I’m going to bring in a specialist. I don’t know everything about everything. But I know enough to know when I need help—whether it comes to law or tax code." – National wirehouse advisor, age 59, $500M - $999M AUM, 30+ years tenure

2.  Help clients give with intention and impact

Since advisors have a broad understanding of how different facets of a clients’ financial life fit into their overall plan, they’re uniquely suited to guide clients on their giving options. Just as a primary care doctor’s vast knowledge of not only medicine, but their patient, makes them a go-to sounding board related to their patient’s health, an advisor who knows their client’s full financial picture can be a key player in the charitable planning process. 

Go beyond the “how much” to the “why” and “how best.” Encourage clients to connect charitable planning with life events: a liquidity event, inheritance, or retirement transition. 

Educate them on strategies that match intent with efficiency: donor-advised funds, charitable trusts, qualified charitable distributions, or gifting appreciated assets. The majority of investors (53%) surveyed said they don’t follow a consistent process when it comes to charitable giving—a clear opportunity for advisor guidance.

And for younger clients, emphasize how philanthropy can be a family teaching tool, a way to pass down values along with wealth.

These conversations demonstrate your holistic value and can introduce you to the next generation of investors.

3. Integrate giving into a holistic financial and legacy plan

Tie every element of the charitable plan together. Ensure that giving aligns with investment goals, tax strategies, and legacy planning. A written road map provides clarity and helps execute your client’s charitable planning vision with precision.

Coordinate the plan across every professional partner and family member involved. Use annual reviews to revisit the impact of giving and ensure alignment with evolving goals. For high-net-worth clients, positioning charitable planning as part of a wealth transfer strategy can bridge generations and strengthen continuity. 

You can work together to ensure that your clients’ giving is both tax-efficient and effective, aligning their charitable goals seamlessly with their overall financial and tax strategies. By engaging family members at the right level and at the right time, you can help foster meaningful participation and continuity across generations.

When appropriate, collaborate with COIs, such as attorneys, accountants, or philanthropic specialists, to enhance outcomes and ensure that each aspect of the plan works in harmony. Finally, make sure legacy planning is fully integrated so that your clients’ charitable planning intentions endure and reflect the values they want to pass on.

When you take the lead in charitable planning, you reinforce your role as a trusted, purpose-driven advisor. Clients see the difference—and charities benefit from more thoughtful giving. It’s a triple win—for you, your clients, and the causes they care about.