New research shows philanthropy guidance boosts satisfaction, trust and loyalty in wealthy clients
Financial advisors may be overlooking a powerful way to strengthen client relationships and differentiate their practices: charitable giving planning.
New research from T. Rowe Price points to a significant gap between what investors want and what advisors are delivering when it comes to philanthropy discussions. According to the findings, a large majority of high-net-worth and affluent investors say they would like guidance from their financial advisor on charitable giving.
But only about one in three report that their advisor has actually raised the topic. This disconnect represents a missed opportunity, particularly given the strong positive outcomes reported by clients who do receive such advice.
Investors who engage in charitable planning conversations with their advisors report higher levels of satisfaction, trust and loyalty. Many also say these discussions improve their overall perception of their advisor’s value, reinforcing the idea that philanthropy planning can deepen relationships beyond traditional investment management.
Those who incorporate charitable planning into client conversations often see stronger retention and, in some cases, uncover additional assets that were not previously part of the advisory relationship. These outcomes suggest that philanthropy discussions can support both client engagement and practice growth.
The research also highlights how informal most charitable giving remains. Fewer than four in ten investors follow a structured giving plan as part of their broader financial strategy. Many make charitable decisions on their own or rely on other professionals, such as accountants or attorneys, rather than their financial advisor. This creates an opening for advisors to position themselves as coordinators of a more holistic planning approach.
Younger high-net-worth investors appear especially receptive to this guidance. A strong majority within this group say they want advisors to proactively initiate charitable conversations and indicate they are more likely to stay with an advisor who does. For firms focused on long-term client relationships and intergenerational planning, this trend carries particular significance.
T. Rowe Price’s research emphasizes that advisors don’t need to be philanthropic experts to start these conversations. Instead, access to practical tools, educational resources and structured frameworks can help advisors confidently integrate charitable planning into regular client reviews.
As client expectations continue to evolve, the findings suggest that charitable giving planning is no longer a peripheral topic. For financial advisors, it may be a strategic way to deliver deeper value, build trust and reinforce their role as comprehensive financial partners.
