Financial advisors and their high net-worth (HNW) clients are far from being on the same page when it comes to giving – or not – to charities, according to a recent study by Toronto-based BMO Harris Private Banking.

According to the BMO study, 65% of advisors and 55% of high net-worth (HNW) clients surveyed say a charitable donation’s impact on the community or the world is the biggest motivator for giving.

Furthermore, 63% of advisors believe that reducing taxes motivates clients to donate to charity, according to the study, yet only 21% of affluent clients agree. Another 34% of advisors believe clients get involved in philanthropy to create a family legacy but in fact only 4% of clients cite that as a reason to give back.

“This is an important topic to people and we [in the financial services industry] are not reading our clients very well,” says Marvi Ricker, vice president and managing director of philanthropic services, BMO Harris Private Banking in Toronto. “We clearly are thinking differently about what’s important when it comes to having a conversation about philanthropy.”

And with 91% of affluent clients saying they have made a donation in the past 12 months, according to BMO, it’s important to get those facts straight. As well, 74% of those individuals who made a donation gave up to $10,000 to those charities.

One way to get on the same page as affluent clients is to ask better questions in meetings about their thoughts on charitable giving. Possible questions to ask include: What are you planning to do with your money? Have you discussed various options with your family? I noticed on your income tax returns you give a lot each year to a charity. Have you ever thought of doing this in a more organized and focused manner?

Another area where advisors and clients aren’t necessarily seeing eye-to-eye is a client’s reasons for hesitating to donate money. According to the survey, 43% of affluent clients are afraid that the charity will not use the donation wisely. Only 26% of advisors share their clients’ fear. As well, 26% of clients, compared with 16% of advisors, are worried that they will be bombarded with requests if they start making donations.

Starting a conversation and working with an expert in philanthropic planning will help clients feel more focused and less guilty about their charitable giving, says Ricker. “Once you’ve identified what it is that you’re supporting and what is your passion and what represents your values,” she says, “then it’s easy to say no to all these other things.”

The survey was conducted in partnership with the Canadian Association of Gift Planners (CAPG) in Ottawa, the GIV3 Foundation, and Philanthropic Foundations Canada (PFG), both based in Montreal. Results were gathered through two quantitative online surveys by Ipsos Canada in September 2014.