Most wealthy people give to charity. Serving them could put you at an advantage, says Financial Planning columnist John J. Bowen Jr.
VOICE OVER: Helping wealthy clients help others can also give you an advantage. To make planned giving part of your business, here are five steps suggested by Financial Planning columnist, John J. Bowen Jr.
1. Become an expert: Beef up your knowledge of charitable trusts and giving strategies. Then start networking.
2. Be a resource: By specializing in charitable planning, other professionals will come to you to help their clients. That's good for their business and yours.
3. Know your audience: Seek out wealthy clients who have an interest in philanthropy.
4. Ask for referrals: Advisors who offer planned giving services tend to get more referrals. Don't let these opportunities pass you by.
5. Promote your services: Position your practice as an authority in this space. Become a go-to source for charitable clients and your practice could grow.
For more tips on client philanthropy, go to financial-planning.com.