Giving and Wellness: Valuable Insights to Share with Your Clients

Whether it’s related to their financial or physical and mental wellbeing, your clients are likely thinking about ways to improve their overall wellness this time of year. As their trusted advisor, you can play a key role by talking to them about their philanthropy because there’s a connection between giving and wellness. In fact, a survey by the University of California, Berkeley of 632 Americans found that spending money on other people is associated with significantly greater happiness.

In a recent Financial Advisor article, our Chief Marketing Officer Hannah Shaw Grove reveals some valuable insights about the relationship between generosity and wellness that you can share with your clients, especially those who’ve yet to realize philanthropy’s many merits. Here are three ways to kickstart the conversation.

#1: How Intentional Are You with Your Charitable Planning?

There are plenty of things we all can do to be happier—and most of them require us to be intentional with our time, actions and thoughts. Numerous studies show that it’s not how much we have, but rather how we use what we have that has the greatest effect on our happiness, which the Berkeley study reminds us. Our Client Meeting Checklist has some helpful prompts to help you dive deeper into this idea and better understand their motivations for giving.

#2: Does Giving Generate Any Memorable Emotions?

Giving to others generates an abundance of benefits, not only for givers and receivers but also for those who witness acts of generosity. The UC Berkeley research also points to a virtuous cycle between giving and happiness: Giving makes people happier, and happier people give more.

Givers also regularly report increased feelings of satisfaction and competence, along with a greater sense of purpose. In 120 of 136 countries, says UC Berkeley, people who donated to charity in the prior month reported greater satisfaction with life. Furthermore, a Foundation Source study of more than 1,700 Americans who engage in charitable activities suggests that giving helps people feel more connected with their communities, too.

The same is true for those who volunteer. The Foundation Source research found that many people engage in charitable activities by volunteering and aspire to continue doing so in the future. Donating time and expertise along with physical help, such as pitching in to build houses or deliver meals, can switch our focus from our own troubles to the needs of those around us, fostering social connections and benefiting everyone involved.

#3: Have You Experienced Any Other Benefits Of Giving?

Medical experts are starting to focus on the tangential benefits of giving, too. In a UnitedHealthcare poll of people who had volunteered in the previous 12 months, the large majority felt healthier (cited by 76% of the respondents), had improved moods (cited by 94%) and reduced stress (mentioned by 78%). Similarly, a blog by the Columbia University Irving Medical Center recently said that generosity has the potential to affect health and well-being by boosting a person’s mood, self-esteem and the immune system, in turn reducing stress, anxiety and blood pressure. The associated chemicals that are produced by the body in response to giving can also help reduce physical discomfort and aid sleep.

Your role as an advisor can extend far beyond discussions about money and wealth planning and be the catalyst to help them make their philanthropy as impactful as possible. When they think of you, they won’t just think of you as an advisor, but as someone who has helped guide them on their path to overall wellness and happiness. And that’s pretty powerful.

Want To See The Rest?

Check out the full article.

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Schedule a call or reach us at 800-839-0054 to learn how we can best support your clients who are passionate about philanthropy. Together, let’s #begiving.