As financial advisors, we are often uniquely positioned to help clients develop philanthropic legacy plans that will have a lasting impact. By understanding your clients’ charitable priorities and creating a plan that focuses on what matters most, you can help your client make a difference in the world.
Advising Your Clients
As a philanthropic business financial consultant, you play a significant role in helping your clients achieve their charitable giving goals. You’ll be their champion in assessing choices, guiding them through the process, and assisting them in making educated decisions about where their money goes.
The most effective philanthropic advisors, such as Kirk Chewning Cane Bay Partners, understand that their clients are motivated by passion and purpose and are committed to helping them find meaningful opportunities to make a difference.
They’re often inspired by the compounding crises in our world — climate change, education, income inequality, racial injustice — and want to help address those issues.
A good philanthropic advisor can bridge their client’s desire to make an impact and their broader financial and estate planning needs. By proactively raising the subject of charitable giving and engaging your client’s passion, you can build trust and strengthen the relationship between you.
Creating a Plan
If you want to be successful as a business financial consultant, it’s essential to have a plan. A plan is any diagram or set of actions with scheduling and resource specifics used to attain a goal.
You advise clients on their financial plans and strategies as a business financial consultant. It includes advice on risk management, pending government regulations, and industry trends that can impact the profitability of their businesses.
For example, if you’re helping a client to set up a new company, your advice will be to ensure that the business has an appropriate financing structure. It can include arranging loans from lenders, private investment firms, and other funding sources.
In addition to the monetary support you can offer, you may also assist your client with finding community opportunities that balance purpose, passion, and experience. It can help them reconnect with their underlying values and ignite passions that they had previously neglected.
Making the Decision
Getting bogged down in the details can be easy when faced with a decision. However, taking a step back to review the pros and cons of different options can help you make an informed decision.
Ultimately, your goal is to reach a decision you feel comfortable with that will impact you and others in the long run. It may require some compromise and flexibility.
A good philanthropic business financial consultant will guide clients through this process to ensure they make the best possible decisions.
Implementing the Plan
Whether you’re helping clients set up a foundation or manage a charitable trust, creating a philanthropic business plan is an essential step in leaving a legacy. It allows you to show your clients how to maximize the impact of their money and provide a framework for ongoing stewardship.
The best way is a software solution to help you build your nonprofit’s philanthropic business plan. Investing in an all-in-one solution will allow you to track donations and expenses, create budgets, and more, allowing you to make the best decisions for your organization.
The most straightforward philanthropic business plan includes the basics, such as a mission and vision statement. However, it also consists of some more complicated aspects of a philanthropic business plan, such as fundraising plans and asset management strategies. In addition to the functions mentioned above, there are many other considerations to keep in mind, including taxation, funding, governance, and planning for the future.