An E-Newsletter on sparking conversations. Whether it’s securities transfers, charitable giving plans, alternatives to family foundations, or tax planning, we are here to help offer options for you to give your clients the service that will make a difference to them.
By Sara Neely, Director of Philanthropic Services, Victoria Foundation. The Canadian study looked at giving behaviours of HNWIs, motivations and barriers to giving, the nature of the conversation, and the benefits to both the financial advisor and the client of having those conversations.
By: Susan Milburn, Financial Advisor, Raymond James, and former Chair of the Saskatoon Community Foundation. If you are a donor, and also an investor, you may already know that making an in-kind donation makes sense. If you donate one of your investments, you won’t pay capital gains tax on that investment. You’ll receive a donation receipt for the full value of the shares or mutual fund, and Canada Revenue Agency allows you to forever avoid paying tax on the capital gain.
By Kevin Hegedus, Financial Planner, Prairie Wealth Management, and Saskatoon Community Foundation Donor. Estate planning can be one of the most difficult and emotional discussions for clients and their family members alike. Which is why the relationship between financial advisors and their clients can be a crucial component to the Estate Planning process.
Life insurance has another important use: it is a popular and practical way to make a significant gift to charity. A gift to a community foundation will be wisely administered through their investment program which will result in a stable source of income to the foundation for years to come.
In 2014 a study was jointly commissioned by the Canadian Association of Gift Planners, Giv3 Foundation, the Philanthropic Foundations of Canada and BMO. It was called “The Philanthropic Conversation” a story of understanding financial advisors’ approaches and high net worth individuals’ perspectives. Conducted by IPSOS, the study found a number of important reasons to integrate philanthropy into your practise.
One of the simplest and most important things you can do to help your clients enjoy the benefits of charitable giving is to ask them the giving question:
“Is there a cause you care deeply for or a community need you would like to have an impact on?
Philanthropy is a very personal decision. A professional advisor can help clients realize their charitable objectives by listening for charitable giving opportunities, explaining options, and suggesting solutions.