In the world of wealth, making money is just one part of the journey. The other, equally important part, is making a difference. Lisa Detanna, with over thirty years of experience as a wealth advisor, has been guiding families to not just grow their wealth but to use it to leave a lasting impact on the world. Her growing number of awards, including Forbes’s (2023) America’s Top Women Wealth Advisor, Barron’s (2022) Top 100 Financial Advisors, and Forbes (2018-2021) Best-In-State Wealth Advisors, show how her practical and inspirational approach to philanthropy and social impact helps families find their way through the challenging process of leaving a legacy.
Understanding Strategic Philanthropy
“Philanthropy connects with a cause that speaks to your heart and finds meaningful ways to contribute to that cause,” Lisa often says. In her opinion, the first step in the process is finding out what matters most to her customers and their families. The key is to choose a cause that reflects the beliefs and interests of the family. It can be in the areas of education, healthcare, environmental conservation, or the arts and culture. It really depends.
Once a family has chosen a cause, Lisa then can give advice on how to make their philanthropic efforts as effective as possible. She encourages the families to create a plan of action with her guidance. This could involve establishing foundations, charitable trusts, or direct investments in social enterprises. With Lisa’s expertise in this field, her customers are sure that their charitable endeavors will be both tax-efficient and in line with their long-term objectives for social impact.
Lisa also thinks that people are motivated to act and further the common good by generosity: “When you give, you change the lives of those you directly support, and inspire others to do the same. That’s the true power of creating a legacy.” She helps families by defining their objectives and monitoring their progress over time. This might have to do with how many scholarships are given to students from low-income backgrounds or how many acres of rainforest are kept intact. By assessing the impact of their gifts, families can monitor the concrete effects of their giving and modify their tactics to optimize their influence on society.
Her Advice for Aspiring Philanthropists
For those looking to start their philanthropic journey, Lisa offers a few general pieces of advice:
- Start with Why: Recognize the motivations behind your desires for this path. This will direct your endeavors and show that you are doing the right thing with your family.
- Educate Yourself and Your Family: Learn about the issues that are important to you and your loved ones. The cornerstone of effective charity is knowledge.
- Engage with Experts: Work with advisors who specialize in philanthropy. Collaborate with them in making a strategic approach that aligns with your goals and values.
- Think Long-Term: Giving is a marathon,not a sprint. Be involved in the causes you are and you are sure to be passionate about for a long time.
Looking Ahead
Creating a legacy through philanthropy and social impact is a journey that can bring families closer, educate younger generations about the value of giving, and, most importantly, make a positive difference in the world. By following Lisa Detanna’s approach and advice, families can create a legacy that reflects their values and has a lasting impact on the world.
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The Forbes ranking of America’s Top Women Wealth Advisors Best-In-State, developed by SHOOK Research, is based on an algorithm of qualitative and quantitative data, rating thousands of wealth advisors with a minimum of seven years of experience and weighing factors like revenue trends, assets under management, compliance records, industry experience and best practices learned through telephone and in-person interviews. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. This ranking is based upon the period from 9/30/22 to 9/30/23 and was released on 02/08/2024. Research Summary (As of February, 2024) 44,028 nominations were received and approximately 1991 women won based on thresholds. This ranking is not indicative of an advisor’s future performance, is not an endorsement, and may not be representative of individual clients’ experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with Forbes or Shook Research, LLC. Please visit https://www.forbes.com/lists/best-in-state-women-advisors/?sh=7ae191421d11 for more info.
The Forbes Top Wealth Advisors Best-In-State 2023 ranking, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. This ranking is based upon the period from 6/30/2021 to 6/30/2022 and was released on 4/4/2023. Those advisors that are considered have a minimum of seven years of experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Out of approximately 39,007 nominations, 7,321 advisors received the award. This ranking is not based in anyway on the individual’s abilities in regards to providing investment advice or management. This ranking is not indicative of an advisor’s future performance, is not an endorsement, and may not be representative of individual clients’ experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with Forbes or Shook Research, LLC. Please visit https://www.forbes.com/best-in-state-wealth-advisors for more info.
Barron’s is a registered trademark of Dow Jones & Company, L.P. All rights reserved. The rankings are based on data provided by 6,595 individual advisors and their firms and include qualitative and quantitative criteria. Time period upon which the rating is based is from 09/30/2022 to 09/30/2023, and was released on 03/11/2024. Factors included in the rankings: assets under management, revenue produced for the firm, regulatory record, quality of practice and philanthropic work. Investment performance is not an explicit component because not all advisors have audited results and because performance figures often are influenced more by clients’ risk tolerance than by an advisor’s investment picking abilities. The ranking may not be representative of any one client’s experience, is not an endorsement, and is not indicative of advisor’s future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award/rating. Barron’s is not affiliated with Raymond James.
Published by: Nelly Chavez
