CLIENTS BEST SUITED TO FLEXIBLE PLANNED GIVING
Flexible Planned Giving is likely to resonate with the following types of clients:
1. Financially Independent Clients post 45 years of age, often retired or semi-retired:
These are clients who:
- are frustrated by frequency of cold-calls, and after becoming aware of the high costs of asking, believe “there must be a better way To Give”;
- want greater structure and admin efficiency around giving; and
- are financially independent …. i.e. have $2m + of investable assets, can comfortably fund lifestyle, and are not in fear of outliving capital. (i.e. “high net worth” but excluding those “Ultra- High Net worth” who have own foundations etc)
2.Ultra-high net worth clients who are not suited to setting up Foundations or PAFs:
These are clients who:
- want to retain access to capital and not tie it up;
- may not want to be COMPELLED to make a charitable donation EACH AND EVERY year; and
- may not need the large one-off deduction;
…then Flexible Planned Giving might suit these clients rather than a PAF.
These are younger clients who:
- have a strong social conscience;
- are comfortable with setting up regular giving online…usually smaller amounts;
- don’t like waste and are open to smarter/better ways of embracing technology to do things better.
IN SUMMARY, THE 4 STEPS TO MAKING A DIFFERENCE
In summary, here are the 4 simple steps to follow with clients to make a difference:
1.Explain the concept (refer to the earlier section as to ways we can make this easy).
2.Introduce the Donation Planner and give them the Flexible Planned Giving Guide;
3.Offer to either:
- -have your assistant subsequently take them through the Donation Planner if they are keen to set up their Giving Plan before they leave; or,
- -if they prefer to work through the Donation Planner at home, briefly take them through the Flexible Planned Giving Guide which will recap the concept and importantly guide them through how to use the Donation Planner.
Firstly, from you as to how the concept has worked for you… see THE ADVISER FEEDBACK FORM … We will look to obtain this from you monthly over the first three months;
Secondly, from your clients… see THE CLIENT FEEDBACK FORM… You can either gain client approval for us to contact them to obtain that feedback, or you (or your assistant) can obtain it… around 1 week later.
Why we need feedback:
Flexible Planned Giving is a new concept… the first of its kind as far as we know…but in order for any new concept to “fly” it needs to be shown that the concept works well for its intended target audience, and which, if any, areas need tweaking.
Without that, we can’t generate financial sponsorship and support to scale the concept so it can truly make a difference!
Anonymous feedback can help make that difference.