Mixing business and philanthropy is a wise investment.
One way a financial advisor can help his or her clients achieve their charitable goals is to encourage them to open a fund at the Community Foundation of Sarasota County. Clients with fund balances over $100,000 can continue to benefit from the financial advisor's customized investment management.
Benefits of the Financial Advisor Program
The Financial Advisor Program is an advantage for all parties, creating a significant and positive impact for the clients’ charitable causes. The financial advisor can:
- Retain a client's charitable assets at his or her financial institution
- Continue to manage a client's assets with an agreed-upon fee schedule
- Convert non-managed client assets – such as real estate, closely-held interests, businesses, personal property and art – into charitable assets that the financial advisor will manage
- Offer clients a value-added service by connecting them to the Community Foundation, which has deep knowledge of community needs and nonprofit capacity
Identifying Clients Who Will Benefit
- Plan to sell a private company
- Have high capital gains tax exposure
- Are in a “transition” phase of life –empty nest, retirement, involved in estate planning
- Want to grow their charitable contributions tax-free over time
- Want a charitable deduction now with the flexibility to make grants in the future
- Have a desire to give back to their community
- Want to leave a legacy for future generations
- Enjoy meeting like-minded donors at philanthropic education sessions offered by our Community Foundation
- Have a family foundation and utilize a donor advised fund for their mandatory annual 5% distribution
- Would benefit by meeting our Community Foundation
The Financial Advisor Program requires financial advisors to adhere to the Community Foundation’s Investment Policy Statement, and professional and industry standards in managing charitable donor funds.