Philanthropy and Private Banking Part.III

The theme of philanthropy touches on sincerely seized beliefs of the client. It allows staff to initiate a conversation on an emotional dimension as well as financial. This dialogue can add to the development of an association of trust between a client who is not simply a portfolio of assets, and a banker who does most of the costume vendor products with high margins. This dialogue allows the bank to intensify its knowledge of clientele, and loyalty by contributing a long term relationship on sustainable projects.

Another line of work to dig for private banks: the networking of donors. Philanthropists, especially beginners, express the need to meet other people having launched in the adventure to help and share their experiences. From the perspective of the bank, linking its customer’s philanthropists represents an opportunity to expand its network of prospects. In Europe Wealth Management team understands this challenge.

For the client, a private bank that support its philanthropic investment it would provide a single window for management of its assets, both financial and philanthropic. Several studies have identified the reasons why wealthy people to contact their banks to invest in private philanthropic topics:
1. Tax benefits,
2. Need advice on clearing the jungle of philanthropic organizations,
3. Want to measure and control effectively grants.
Structuring, in the engineering heritage, a philanthropic offer to optimize tax and guide the client through the maze of legal philanthropy takes on its meaning.

Today, private banks gaining momentum on the subject of philanthropy, sensing the potential of loyalty and competitive differentiation behind. But they will fail to fully play this role once they are deemed competent on the subject by their customers. This involves the guidance of management consultants to private customer approach in its personal dimension and not just financial, and reorganizing the supply of products and philanthropic services taking into account the tax aspects, legal and emotional donation.