Philanthropic planning is wealth management’s next competitive frontier, beyond DAFs

Bailey stepped into the president’s role at Foundation Source in March 2026 at a moment of significant industry pressure. The Philanthropic Initiative’s recent research found that 88 percent of high-net-worth clients report having discussed philanthropy with their advisor, up from 67 percent in 2018, while 99 percent of advisors agree these conversations matter. But only 45 percent of advisors are having them with most of their clients.

Beyond the donor-advised fund

For years, charitable planning in wealth management largely meant recommending a donor-advised fund as a simple, tax-efficient vehicle that handles the administrative basics. Bailey argues that the landscape has shifted considerably, and that a truly integrated philanthropic advisory offering now spans multiple structures with distinct purposes.

“The reality is that different charitable vehicles are designed to achieve different outcomes,” she said. “A donor-advised fund may be ideal for administrative simplicity and immediate tax efficiency. A private foundation can provide a platform for long-term family philanthropy, governance and strategic grant making. Charitable trusts can be powerful tools for balancing charitable goals with income, wealth transfer, and sophisticated estate planning objectives.”

The advisor’s job, Bailey contends, is not to push a product but to match the right structure or combination of structures to each client’s financial, family, and philanthropic goals. “Rather than focusing on a particular product, an advisor’s job is to help clients select and integrate the charitable structures that best support their overall financial, family, and philanthropic priorities,” she said.

PhilTech: the next evolution in advisor technology

Bailey says “PhilTech” — technology-enabled charitable planning solutions — to describe what she sees as the next logical stage in the evolution of advisor tools. She draws a direct parallel to transformations that have already reshaped the industry.