Gift Opportunities Continued - Identity Crisis

Gift Opportunities Continued - Identity Crisis

Article posted in General, Practice on 29 August 2017| comments
audience: National Publication, Two Hawks Consulting, LLC | last updated: 30 August 2017


This section of Opportunity Recognition views age and gender differences and the impact they have on the gift process.

By: Randy A. Fox, Editor-In-Chief

No two benefactors are alike – understanding exactly who your audience is in any given approach is vital to the success of the charitable gifting conversation. From men and women to the young and old, here are a few factors to consider when crafting your message.

Battle of the Sexes

According to a survey by Fidelity Charitable, women tend to be more committed and strategic in their giving. They volunteer more time, ask more questions about the financial aspects of their gifts, and generally feel that giving to charity is a very satisfying aspect of having wealth. They also tend to be more spontaneous – captivated by a cause, a movement, or an empathic response.

Age Does Matter

Some younger donors may not be eligible to implement a Charitable Remainder Trust because it wouldn’t qualify under the 10% remainder test. Your donor’s life stage is not the only important factor – knowing how each gift works and what applies to who is equally important.

Then there’s the Millennials vs. the Boomers. Millennials want to be able to measure actual impact – opting for hands on experiences and involvement. In some cases, even leading their own effort ala Zuckerberg/Chan.

Boomers find fulfillment in giving back to their community by volunteering as well. Also, now that their children are grown and out of the house (if that’s the case), they generally have more capacity to give. Advisors can use this period to begin converting dormant assets into planned gifts and increase community involvement by providing guidance in this area.

One of the key findings in a recent U.S. Trust study is that wealthy Boomers want to give more, but need help in discovering exactly who or what to give to. The best advisors get creative and ask in depth questions to help their clients find what they’re passionate about.

Great Expectations

While many of these observations hold true for other aspects of financial counseling, it’s certainly imperative for advisors to understand their clients’ aspirations and expectations when it comes to advice on philanthropy. If humanitarianism is truly one of America’s great freedoms, then it is incumbent on advisors empowering their clients on how to best enjoy that freedom.

Knowing who your clients are and what their view of the world is will tap their desire to give – and knowing the best way for them to give is equally important. We all have our work cut out for us.

Give me a call at (704) 698-4055 or email me at for more information on how charitable planning can benefit your clients.

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