Generation Impact, Updated and Expanded Edition

APPENDIX CBest Practices for Advisors

Introduction

As advisors, you know that what you communicate to your clients, how you choose to interact with and serve them, and the ways in which you guide and even inspire them can have an outsized impact. This can be especially true for younger clients. And today, there's one group of younger potential clients that needs your attention more than ever. How well you succeed in engaging this group will directly affect the health of your practice—and the health of philanthropy—in the years ahead.

While most young people don't begin with advisors in their lives, these financially resourced next gen will look beyond their parents, grandparents, and peers—to advisors like you—for direction as they earn their own wealth and sort out their financial planning, become trustees with financial and fiduciary responsibilities, get married and plan for their futures, draft wills for their descendants, and so on. The question is: Will you be there to support them? They could turn out to be your biggest, most long-standing clients ever. As an advisor, you will need to build authentic relationships with these donors in order to win and/or retain their business.

This guide is for professional advisors of all kinds—in the fields of finance, legal, accounting, family offices—and others who serve next gen, through big firms or independently, as well as those who provide philanthropic counsel. For the sake of efficiency, we've lumped all into one group, “advisors.” ...