Inside the mind of the bequest donor with Dr. Russell James
What neuroimaging and experimental psychology tell us about charitable bequest decision-making and effective marketing.
Opus Advisors, LLC was honored to host Dr. Russell James, on April 29 at the Abenaqui Country Club. Dr. James discussed results from his research at the Texas Tech Neuroimaging Institute, which reveal insights into how donors engage in charitable bequest decision-making.
These findings underscore the power that words have to both inspire and deter people from planning their legacy gifts. The phrase “planned giving” alone makes people think of their own impending demise, as an example. Instead, using such phrases as “in recognition of” or “in honor of”, for example, are much more compelling words to use when discussing the possibility of planned gifts with prospects.
Attendees learned from Dr. James’ in-depth research of brain mapping, with a specific focus on ways to build a planned giving program that inspire rather than turn off prospective donors. To learn more about Dr. James’ book, click here.
If you don’t yet have a legacy program, we’d love to help you think through that and develop a plan to launch one. If you already have a program in place, we can also assist you in developing strategies that springboard off this work to create new opportunities for your organization.
About Dr. Russell James, J.D., Ph.D., CFP®
A professor in the Department of Personal Financial Planning at Texas Tech University. He holds the CH Foundation Chair in Personal Financial Planning and directs the on-campus and online graduate program in Charitable Financial Planning. Additionally, he teaches Charitable Gift Planning at the Texas Tech University School of Law. He graduated, cum laude, from the University of Missouri School of Law where he was a member of the Missouri Law Review. He also holds a Ph.D. in consumer economics from the University of Missouri, where his dissertation was on charitable giving. His research focuses on uncovering practical and neuro-cognitive methods to encourage generosity in financial decision-making and he previously taught a graduate course in fMRI (functional magnetic resonance imaging) design and analysis for the Texas Tech Neuroimaging Institute.
Dr. James has over 150 publications in academic journals, conference proceedings, and books. These predominantly focus on statistical analysis and neuroimaging analysis related to gifts, estates, and property. He has been quoted on charitable and financial issues in a variety of news sources including The New York Times, The Wall Street Journal, CNN, MSNBC, CNBC, ABC News, U.S. News & World Report, USA Today, the Associated Press, Bloomberg News and the Chronicle of Philanthropy and his financial neuroimaging research was profiled in The Wall Street Journal’s Smart Money Magazine.
With many thanks to our sponsors of this Opus Presents: