Remember a Charity launches good practice guide for wealth advisers

Remember a Charity has launched a good practice guide for wealth advisers to help them incorporate charitable legacies into financial planning discussions and support their clients’ philanthropic ambitions.

The guide, Integrating Charitable Legacies into Wealth Planning, provides advisers with insights and tools to help them initiate and navigate conversations around legacy giving, especially regarding estate planning, succession, and long-term wealth strategies.

It has been developed in collaboration with Boon Philanthropy Consultancy and Boodle Hatfield, alongside input from a range of industry experts.

Remember a Charity said the guide has been published as charities increasingly look to engage with high-value supporters with legacies.

Data from Legacy Futures showed around £4.4bn was donated to UK charities through gifts in wills last year, while Remember a Charity’s research found that half of UK millionaires already had a charitable gift included in their will, with ‘many more’ intending to do so.

Furthermore, a study from the Charities Aid Foundation showed that 93 per cent of clients who had discussed philanthropy with an adviser found the conversation beneficial.

However, Remember a Charity said legacy giving conversations were rarely a core component of mainstream wealth planning services, and the new guide aimed to address this gap by equipping advisers with some key principles for discussing philanthropy with clients.

It highlighted how advisers can play a pivotal role as trusted professionals who are well-placed to explore client values, open up legacy conversations, and connect clients with the right expertise where needed.

“In recent years, I have seen a marked shift in what clients are looking for from their advisers,” said Boodle Hatfield private wealth partner and Remember a Charity Wealth Adviser Committee chair, Clare Stirzaker.

“The traditional, purely technical approach to philanthropy is no longer enough on its own. Increasingly, clients want something more holistic.

“They want advisers who can help them explore what matters to them, articulate the purpose of their wealth, and understand the impact they hope to have during their lifetime and beyond it.”

---