In a crowded market, wealth managers serving corporate clients must consider innovative ways to strengthen relationships and differentiate their offerings. Workplace giving is a powerful tool for achieving these goals. By integrating donor-advised fund (DAF) solutions into workplace benefits, wealth managers can provide a highly valuable service that aligns with the needs of employers and employees alike—while deepening their connection with corporate clients.
The Strategic Role of Workplace Giving Benefits
Corporate clients are increasingly focused on fostering workplace cultures that reflect their values, particularly as they strive to attract and retain top talent. Millennials and Gen Z employees, who now dominate the workforce, prioritize working for socially responsible companies that provide meaningful benefits. Research shows that nearly 63% of Gen Z prefer companies that align with their social values, and 78% of employees report they are more likely to stay with an employer that offers robust benefits programs.
Wealth management firms providing financial solutions to employers play a critical role in bringing these programs to life. Offering a workplace giving solution not only addresses these corporate priorities but positions the advisor as a strategic partner. This strengthens corporate relationships, adds value to benefit plans, and creates pathways for future growth by engaging employees directly.
How TIFIN Give Empowers Advisors and Corporate Clients
TIFIN Give’s technology simplifies the integration of workplace giving into employee benefits with a digital DAF designed to meet the distinct needs of companies and their employees. Key features include white-label solutions for wealth management firms, seamless digital experiences for employees, and aggregated philanthropic tools for corporate engagement.
Corporate DAFs
Corporate clients can establish a company DAF, allocating funds to support charitable initiatives or empowering employees to direct giving toward causes they care about. This structure allows companies to align their philanthropic goals with employee interests, creating a more engaged and value-driven workforce. For wealth managers, a corporate DAF not only deepens client relationships but also integrates philanthropic planning into broader financial strategies, enhancing their role as a trusted advisor.
Employee DAFs
Employees can open their own individual DAFs through the workplace program, enabling them to manage their personal giving with ease. Payroll deductions, employer-matching capabilities, and intuitive digital interfaces make giving accessible and impactful. Employee DAFs also offer tax optimization benefits, such as the ability to donate non-cash assets or offset windfalls, further enriching the value proposition for employees while strengthening corporate benefit programs.
White-Label Customization
TIFIN Give’s platform can be fully white-labeled, allowing wealth firms to seamlessly incorporate workplace giving into their service offerings under their own brand. This strengthens the advisor’s position as a comprehensive provider of financial and philanthropic solutions, enhancing loyalty and trust with corporate clients.
Building Long-Term Relationships
Implementing a workplace giving solution offers wealth managers a unique opportunity to embed their services within a corporate client’s operations. This not only deepens the immediate advisor-client relationship but also fosters connections with employees, many of whom may eventually seek wealth management services. By offering a solution that aligns with corporate values and employee aspirations, advisors position themselves as integral partners in their clients’ success.
Furthermore, the aggregated data insights generated by TIFIN Give’s platform help corporate clients understand employee giving trends, allowing for more targeted and impactful workplace giving initiatives.
A Competitive Edge for Wealth Managers
The workplace is evolving, and benefits like charitable giving are becoming common. Wealth managers who embrace these trends will not only differentiate themselves in a competitive market but also create enduring value for their corporate clients. Integrating workplace giving solutions unlocks a pathway to deepen client relationships and grow long-term assets. TIFIN Give’s digital DAF, marked by cutting-edge technology, provides the tools wealth managers need to succeed in this space.
By enabling companies to drive meaningful employee engagement while meeting their philanthropic goals, wealth managers can deepen relationships, enhance their offerings, and ensure long-term success for both their clients and their practices.