As you work with high-net-worth clients on their financial goals and aspirations, there are many components to consider. Trusted advisors play a key role in helping clients prepare for their financial future in various ways. For clients looking to give back to the community, charitable giving may be top of mind. We know that adding charitable giving to the conversation can add complexity, so we serve as a philanthropic partner to support advisors and their clients every step of the way.
At Greater Horizons, we specialize in helping advisors seamlessly integrate strategic philanthropy into their practice. Studies have shown that incorporating charitable giving into client conversations strengthens relationships and helps advisors stand out in a competitive landscape. These discussions on community, impact, values and legacy add meaning and open the door to new planning opportunities for clients to maximize their tax strategies and set philanthropic goals. We want to help you shine in front of clients and foster the spirit of charitable giving among future generations.
Donor-advised funds are ideal for clients who want to strategically organize and maximize their philanthropy. Since assets in donor-advised funds are invested through our investment pools or managed by the advisor, clients are potentially increasing the amount they can give to charities over time. With donor-advised funds, clients can develop long-term charitable giving plans while adjusting to generational transitions and changing philanthropic priorities.
While contributing cash is always great, many choose to contribute stock to their donor-advised fund. Donating appreciated assets held for more than a year can provide additional advantages, such as avoiding long-term capital gains tax. To learn more, check out our comparison chart of contributing gifts of cash versus gifts of appreciated stock.
Some clients may be able to consider assets like privately held business interests, real estate and cryptocurrency for charitable giving. Because these hard-to-value assets can be difficult for charities to accept directly due to the complex legal work involved, donor-advised funds offer a valuable solution. Our unique assets team has decades of experience working with advisors to facilitate these types of contributions. This allows clients to turn those assets into charitable dollars and make grants to any 501(c)(3) public charities while building tax efficiency in their financial plan.
Our philanthropic advising team is professionally certified to navigate charitable legacy planning conversations with thoughtfulness and care. By collaborating with advisors and clients, we can intentionally create meaningful legacy plans that complement existing estate plans.
When individuals and families are deciding how the fund will operate beyond their lifetimes, they have a couple of choices. Some choose to name successor advisors. These are individuals from whom our staff will take direction when the original fund advisors can no longer make granting decisions. Others decide to document charitable intent by listing public charities or specific cause areas that will receive the fund’s assets following their death. Regardless of which option clients choose, they can relax knowing you’ll continue to play a role in their charitable impact in the future.
We are seeing more individuals and families than ever wanting to weave charitable giving into their financial portfolios and legacy plans. Trusted advisors are uniquely positioned to support charitable clients by continuing to manage and grow their assets while partnering with Greater Horizons to handle the administrative side of giving.
Whether you’re exploring charitable structures, succession planning or giving strategies, we’re here to support you behind the scenes or directly with your clients by offering customized solutions. Contact us at info@greaterhorizons.org or 866.719.7886 to get started.
Authored by: Annie Burndrett, Business Development Advisor
