SESSION OVERVIEW:

Many more clients would likely be compelled to discuss estate planning if strategic philanthropy was part of the conversation. Financial advisors may want to add this to their Know Your Client process, especially given the severe financial repercussions of the COVID-19 pandemic. This module discusses the features and benefits of different philanthropic structures for charitable giving, disbursement requirements for foundations, endowment funds and donor advised funds and how to work with investment committees and charitable sector investment policies.

APPROACH:

Your high net worth clients who trust you to advise them on their personal wealth should see you as their key source of advice as to how best to achieve their charitable giving aspirations. These aspirations may have recently changed as markets have been dramatically affected by the global pandemic. This new volatility may have affected how much people can give, as values in portfolios declined. However, some clients may be inspired to help mitigate the financial effects of the economic shutdown on their fellow citizens with new or renewed giving making this an ideal time to engage your clients in conversations about philanthropy.

WHAT YOU WILL LEARN:

• What new circumstances have arisen in charitable giving as a result of the pandemic?
• How to evaluate charitable giving options for your clients.
• Understand how foundation asset management and donor advised funds can be used to help you build your business.
• How changing social values and demographics are impacting philanthropic investment policies.

LEARNING ACTIVITIES: To test the learning process, the student will answer multiple-choice questions and contemplate the role of the advisor.