The Value of Legacy Giving

This session focuses on the value of having proactive conversations with clients about their values, the purpose of their wealth, what they hope to achieve and including discussions about philanthropic and legacy giving.

There are multiple benefits for not only the beneficiaries, but also your clients and indeed you and your firm, to build lasting relationships with your clients, discussing matters of inspiration or passion.

Legacy Giving has evolved, become more sophisticated and provides attractive opportunities for HNW Individuals to give effectively and efficiently.

There are emerging structures and considerations to consider when having these discussions and when implementing clients philanthropic goals.

Learning Objectives:

• The benefit of values-led conversations: Private client advisers recognise that their clients are increasingly values-led and want to provide a service which reflects this. They welcome the opportunity to talk to their clients about their values and beliefs, alongside their monetary goals, giving them the opportunity to fulfil their client’s needs, while developing a deeper and more trusted client-adviser dynamic.
• Advisers are well placed to seed the idea of charitable legacies: Advisers see that they have a role to play in highlighting to clients the opportunities and potential fiscal benefits of legacy giving. They recognise there is scope for them to reference gifts in Wills in ongoing discussions and at key life stages.
• Best practice - Advisers express an appetite for more knowledge and support in raising legacy conversations with their clients. They want to better understand how legacy gifts can be structured and how they can help clients realise their own charitable goals.
• Legacy giving can play a key role in the philanthropic journey: The decision to leave a charitable legacy can be a catalyst that inspires future giving. Advisers recognise that discussing the causes that matter most to clients can strengthen the adviser-client relationship, as well as help clients approach subsequent philanthropic and investment decisions.
• The need for a more holistic and collaborative approach: Impact is a key driver for high net worth individuals. They expect to have choice and agency, and to be well stewarded – by advisers and charities alike. Legacy and major donor fundraisers are ideally placed to support advisers in co-creating philanthropic journeys and experiences. This requires a holistic and strategic approach withi charities, and closer collaboration with advisers.