Women and Wealth: Strengthening Relationships Through Charitable Planning

Women are playing an increasingly influential role in wealth management, and new research suggests that advisors have an opportunity to strengthen relationships by paying closer attention to what women clients want from financial advice.

According to Vanguard’s 2026 Women & Wealth Study, 76% of women feel confident making financial decisions, and women rank educational and collaborative as their top two preferred communication styles from a financial professional.

Meanwhile, a recent AdvisorHub article highlights the growing importance of planning that connects financial decisions with broader goals as women assume greater responsibility for family wealth.

Charitable giving offers a meaningful way to build these relationships. Conversations about philanthropy can reveal personal priorities, family dynamics, and long-term goals that might not otherwise emerge during a traditional financial planning meeting.

At The Erie Community Foundation, we work alongside professional advisors to help clients connect those priorities with opportunities to make a difference. Here are three ways to bring charitable giving into your conversations with women clients.

Ask About Charitable Interests Before Introducing Planning Tools

Before discussing tax deductions, donor-advised funds, or charitable trusts, consider asking what causes matter most to your client and what she hopes her giving will accomplish.

Perhaps she has a longstanding relationship with a local nonprofit, wants to address an emerging community need, or hopes to support a cause that reflects her personal experiences. Understanding those interests can help you recommend a strategy that fits her goals.

A few questions can help start the conversation:

• Which causes or organizations are most meaningful to you?

• Are there experiences or people you would like to honor through your giving?

• What would you like your charitable support to accomplish?

The Erie Community Foundation can be a resource in these discussions, offering insights into local nonprofit organizations, community needs, and giving opportunities that align with your client’s interests.

Make Charitable Planning a Collaborative Process

Research suggests that women value financial expertise while also wanting to participate actively in decisions.

As InvestmentNews reported, a Nationwide survey found that although 95% of women investors believe their advisors treat them with the same respect as male clients, nearly one-third reported experiencing patronizing explanations of financial concepts.

Charitable planning provides an opportunity to put collaboration into practice. Present several giving options, explain the advantages and limitations of each, and invite your client to help shape the strategy.

For example, a client may want to support a favorite nonprofit today while also creating a lasting charitable legacy. Another may want flexibility to recommend grants over time or involve family members in giving decisions. Discussing these priorities together helps ensure that the strategy reflects her preferences.

Whether your client is evaluating a gift of appreciated stock, establishing a donor-advised fund, or considering a charitable provision in her estate plan, The Erie Community Foundation can join the conversation to help explore options and answer questions.

An Advisor’s Perspective

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Use Philanthropy to Engage the Entire Family

Charitable giving can provide a natural opening for conversations about family relationships and the transfer of wealth and values across generations.

A recent Fortune article highlights how younger members of billionaire families are encouraging their parents and grandparents to accelerate charitable giving and embrace approaches focused on impact. Their interests include addressing systemic problems, empowering communities, and making a difference during donors’ lifetimes.

For families of many financial backgrounds, giving together can create opportunities to share experiences, learn about community needs, and discover shared interests.

For clients who want to involve children or grandchildren, a donor-advised fund or another charitable fund at The Erie Community Foundation can provide a framework for supporting their charitable goals. Depending on the fund’s structure, family members may participate in recommending grants or help shape the charitable purpose.

Consider asking:

• Would you like your children or grandchildren to participate in your giving?

• Which values or family traditions would you like to pass along?

• Are there causes your family would enjoy learning about together?

These conversations may be especially valuable when a woman assumes greater responsibility for family financial decisions following retirement, an inheritance, or the loss of a spouse. Building relationships before major transitions can help advisors better understand a client’s wishes and support continuity in her planning.

The Erie Community Foundation can help families explore shared charitable interests, develop giving traditions, and consider how their generosity can continue into the future.

Keep Each Client’s Goals at the Center

Every client is different. Charitable giving should reflect an individual’s interests and goals, and research about women investors can inform thoughtful questions without replacing personal conversations.

The larger lesson is straightforward: listen carefully, share your expertise, and recognize your client’s role as an informed financial decision-maker.

By incorporating philanthropy into these relationships, advisors can gain a deeper understanding of what matters to their clients while helping them translate their values into meaningful charitable action.

We’re Here to Help

Your client does not need to have every detail decided before beginning the conversation. We would be happy to sit down with you and your client, listen to what matters most to them and explore options that fit with the financial and estate-planning work already underway.

We respect the relationship you have built with your client and see our role as a partner in the charitable planning process.

Together, we can help your clients inspire generosity, engage the people and causes they care about, and empower communities across our region, today and tomorrow.

For more information, contact Steve Weiser, Vice President of Philanthropic Services, at SWeiser@ErieCommunityFoundation.org or 814.413.7345.