Remember a Charity are pleased to announce the establishment of our committee of wealth advisers, set up to build expertise within the advisory profession and to champion and promote legacy giving amongst high net worth clients.
The Private Client Advisory Committee for Legacy Giving is working to guide our work programme with wealth advisers, which aims to equip wealth advisers with the knowledge and resources they need to inspire and support high net worth clients in achieving their philanthropic goals, growing high value legacy giving.
The creation of the committee follows our exploratory research into the role of wealth advisers in growing legacy giving, published earlier this year. This revealed that appetite for supporting clients in achieving their charitable legacy was high, but that relatively few advisers outside the Will-writing sphere regularly advised clients on the topic. The research report was accompanied by a suite of 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.
Our wealth adviser programme builds on the our experience of working with solicitors and Will-writers in having established a network of 900 solicitor firms and Will-writers (Campaign Supporters) who have all committed to make their clients aware of the option of including a charity in their Will, normalising legacy giving.
Role of the committee
The Private Client Advisory Committee for Legacy Giving brings together influential wealth advisers to accelerate learning, developing the knowledge and skills needed for advisers to initiate values-led discussions with their clients about charitable legacies. Committee members have committed not only to share knowledge and expertise, but to advocate for legacy giving with their clients, within their organisations and across their wider peer groups and networks. This includes:
- 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 (pictured above), says:
“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.”
Director of Remember A Charity, Lucinda Frostick, adds:
“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.”
Driving Best Practice in legacy giving
The committee will shape our work programme with wealth advisers. This includes developing training, mentoring and best practice guidance. By nurturing a network of legacy advocates in the wealth adviser community, we aim to accelerate the growth of high value legacies and inspire a longer-term cultural shift where advisers more regularly inspire legacy consideration.
The committee first met in person in September, agreeing the terms of reference and exploring the key areas of activity to be progressed within the group. They will continue to meet on a quarterly basis for a 12-month period before reviewing next steps.
