Remember A Charity launches wealth advisor committee
Melanie May | 22 November 2024 | News
The new Private Client Advisory Committee for Legacy Giving is working to guide Remember A Charity’s work programme with wealth advisers, which aims to equip them with knowledge and resources for supporting high net worth clients in achieving their philanthropic goals – including through legacy giving.
The creation of the committee follows the consortium’s exploratory research into the role of wealth advisers in growing legacy giving, which was published earlier this year. This found that while appetite for supporting clients in achieving their charitable legacy was high, relatively few advisers outside the Will-writing sphere regularly advised clients on the topic. The research report was accompanied by web-based resources for advisers, including a business case for discussing charitable legacies with clients and case studies showing the different ways a charitable legacy can be structured.
Members of the Private Client Advisory Committee for Legacy Giving have committed both to share knowledge and expertise, and to advocate for legacy giving with their clients, within their organisations and across their wider peer groups and networks. This includes:
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- Raising the topic of legacy giving with their clients and supporting those who wish to fulfil their charitable legacy
- Educating and informing colleagues, championing legacies across their firm
- Advocating for legacies — inspiring their wider network to discuss charitable legacies with clients
- Reporting learnings back to the committee, accelerating learning and helping to shape Remember A Charity’s future development of best practice guidance and resources for advisers
Committee Chair and Private Wealth Partner at Boodle Hatfield, Clare Stirzaker, said:
“Helping private clients consider and implement their charitable legacy is a privilege for any adviser and definitely the part of my job that I enjoy the most. The aim of this committee is to address how we can better enable our colleagues and peers to raise and discuss this important topic with clients. I very much hope that our efforts and collaboration drive changes across the wealth management industry, supporting higher levels of legacy giving whilst also unlocking potential lifetime giving too.”
The committee will shape Remember A Charity’s work programme with wealth advisers. This includes developing training, mentoring and best practice guidance. In nurturing a network of legacy advocates in the wealth adviser community, Remember A Charity aims to accelerate the growth of high value legacies and encourage a longer-term cultural shift where advisers more regularly inspire legacy consideration.
The first meeting took place in September to agree the terms of reference and explore key areas of activity. The committee will continue to meet on a quarterly basis for a 12-month period before reviewing next steps.
Director of Remember A Charity, Lucinda Frostick, said:
“Private client advisers are pivotal when it comes to supporting clients with their philanthropic and financial decision-making. Yet, when it comes to engaging with high net worth individuals about legacy giving, these conversations can be few and far between, and there is opportunity for greater depth. Such discussions can be crucial in supporting clients achieve their philanthropic legacy.
“Our mission with this work programme is to deepen our understanding of the ways in which wealth advisers can support clients with charitable legacies, and to empower and equip this growing community of influential advisers to unlock and inspire legacy growth across their client base.”
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About Melanie May
Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via thepurplepim.com.