A group of UK charities has set up a committee of wealth advisers to build expertise within the profession and to promote legacy giving amongst wealthy people.
Remember A Charity set up the committee to guide its work wealth advisers, which aims to equip them with knowledge and resources to support their high-net-worth clients to donate to charities in their wills.
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 and will continue to meet on a quarterly basis over the next 12 months before reviewing next steps.
Members of the Private Client Advisory Committee for Legacy Giving have committed to raise the topic of legacy giving with their clients and support those who wish to fulfil their charitable legacy.
They have agreed to champion legacies across their firm and encourage their wider network to discuss charitable legacies with clients.
Members have also pledged to report learnings back to the committee to help shape Remember A Charity’s future development of best practice guidance, training and mentoring resources for advisers.
Conversations currently ‘few and far between’
Committee chair and private wealth partner at law firm 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.”
Remember A Charity director 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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