Investing Your Money In Others: Finding Your Philanthropic Advisor

Not everyone can be an expert with their money. That is why there are financial advisors – people who are certified to understand how money works and how to inform others on how to effectively invest their money.

For some, that is taking the money they do have investing it to make a profit. When money is at stake, we want to do everything we can to ensure that no decision is losing us money. That is why financial planners play such an important role in our financial goals.

However, some individuals are not looking to grow their money. Instead, they want to invest their wealth to into the lives of others. But for the same reasons why people use financial advisors to gain a profit, others seek guidance for how to effectively use their profits for the biggest societal impact.

These advisors, whether they help us make a profit or give of our profits, need to be individuals we can trust. Money is still on the table and, if not distributed effectively, risks being wasted.

Before you commit to working with a philanthropic advisor, here are a few characteristics you should look for to ensure that you are working with someone who has your best interests in mind:

A relationship built on trust.

When seeking guidance, there is nothing more important than working with someone you trust. If the trust isn’t there, you will never be able to abide by their advice with a clear conscious. If you can genuinely connect with someone on a deeper level, you know they will do anything to help you meet your goals.

You should leave feeling inspired.

You should feel inspired every time you leave a meeting with your philanthropic advisor. You are both working together to best serve those in need, so every conversation you have should lead you closer to those goals. If you leave your meetings feeling more discouraged or melancholy than when you arrived, there are clearly faults in your relationship.

They should challenge you.

You should ultimately have the last say in a decision since it’s your money, but you are seeking the guidance of an advisor because you lack the expertise. With that in mind, you want to make sure you are working with someone who challenges your mindset, while also respecting your decisions.

Experience is important.

Here, the most important aspect of experience is not measured in years, it’s measured in diversity. You may want to donate your money to foundations, donor-advised funds, and corporations, so don’t settle for a philanthropic advisor who only has experience in one of these areas.

With these characteristics in mind, you can begin to narrow down your candidates until you find the one you feel the most comfortable and confident working alongside.

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