How a Financial Advising Firm Can Help a Non-Profit

Earlier this year I had the pleasure of attending Momentum Nonprofit Partners’ Conference – it was an insightful event, especially through the lens of someone working in finance. The speaker mentioned the term “bizsplaining”, as an act where financial professionals interject in a non-profit’s plan that the non-profit’s intended actions are not prudent or economical – usually also attempting to condescendingly educate non-profits on basic business (this is where the “biz” comes from) principles. Though the for-profit and not-for-profit sectors have long been seen as opposites and ill-fit in common philosophy, I believe that a valuable relationship can come from a non-profit utilizing the services of a financial advisor (free of “bizsplaining” of course).

As an employee at a financial advising firm, however, I have seen how non-profits and financial planners can work together for the benefit of each other, and ultimately, the benefit of the community. Here are a few reasons why:

1. Financial planners can be valuable fundraising allies for nonprofits, and each organization can assist the other via their diverse networks.
2. Oftentimes a financial planner’s clients will need to make charitable gifts towards nonprofit or faith-based organizations. Having a relationship with an advisor can be a valuable resource for donor referrals.
3. Though a financial management firm is a for-profit organization, supporting the community is a common goal between the non-profit and financial advising industries. And through a relationship with a service-minded advisor, non-profits can also find an eager group of volunteers and supporters in the financial management firm.

Mary A. Phan | Investment Analyst

‍