Wealth management is not just about the numbers on the balance sheet. To lead customers effectively, you need to know where their hearts are. One way to find out is to talk to them about philanthropy.

Philanthropy, the art of giving to create a positive impact on society, is a dynamic journey. The life span of a philanthropist represents how philanthropic commitment grows over time, moving through stages as life events inform and motivate actions.

From writing a check to creating a legacy, each stage of a philanthropist's life span represents a vital contribution to making the world a better place. Life events have the power to propel individuals from one stage to another, ultimately shaping their philanthropic legacy and the positive change they leave behind. As a financial advisor, you can deepen your relationship with a philanthropic client by recognizing where they are in their 'arc of life' and helping guide them in their quest to make a lasting family impact and their society.

Here are the seven stages in a life of giving: