The following are a few of the key takeaways from the discussion:
- Inheritors are often even more focused on philanthropy than original wealth generators, and increasingly, they are asking advisors to help them envision spend down plans.
- Many of the people who have funds in DAFs report that they feel a disconnect with their financial advisors. Building knowledge about philanthropy and strengthening referral networks go a long way to address clients' philanthropic advisory needs.
- As more and more money is transferred to inheritors, we expect the demand for new technology to increase. Some emerging philanthropy-tech, including PhilanthPro, serve as an educational tool to nudge clients towards more intentional philanthropy.
