CHARITABLE PLANNING

helps to unite family members: Thanks to widely available videoconferencing tools like Zoom and FaceTime, a family doesn’ t have to convene all its members in a single location for board meetings— or for site visits to grantees. Holding such gatherings virtually can keep everyone involved and on equal footing despite any distances among them.

Additionally, philanthropy technology, or“ PhilTech,” can boost collaboration, communication and engagement among foundation members by letting them more efficiently interact and share information. For instance, there are platforms that help foundations see a centralized view of their activity, facilitate day-to-day operations and streamline the grant application and grant disbursement process, and board meetings can be more efficient with digital board books and voting.( Such technology is also a

valuable tool for financial advisors who want to collaborate with their philanthropy-minded clients.)

5. Engage The Next Generation

When foundation boards are multigenerational, younger family members have more opportunities to make connections and grow into their leadership roles. Foundations with younger members benefit by learning about what motivates and inspires them. Research from our firm, Foundation Source, conducted with two generations of family members from single-family offices shows that younger generations are becoming more involved in philanthropic endeavors than their elders, and they expect to have even greater involvement in the future. They also believe philanthropy is a powerful way to effect meaningful change in the world. Older generations, by contrast, are more focused on wealth preservation and enhancement, and they mainly view philanthropy as a tool for legacy building.

It might be challenging for you as an advisor to help clients discover what they have in common with different family members. They may need to take stock of their individual interests and beliefs and then develop a common vision they can all share moving forward. After all, bringing family members together to make the world a better place is what family philanthropy is all about. With a little flexibility and creativity— and sound guidance from their trusted advisors— family foundations can involve all their members in their philanthropy and strengthen family unity as well.

GILLIAN HOWELL is the National Philanthropy Executive and a member of the leadership team at Foundation Source.

20 | FINANCIAL ADVISOR MAGAZINE | JULY / AUGUST 2025 WWW. FA-MAG. COM