How to Incorporate Philanthropy Into Your Practice

Best practices for wealth managers on engaging with charitable clients

With philanthropy on the rise, particularly in light of Covid-19, wealth advisors are increasingly called upon by their clients for guidance around charitable giving. While these conversations happen most frequently during fourth quarter (since acting before year end may generate tax savings), routinely initiating them throughout the year can be most beneficial.

Josh Stamer, Senior Managing Director at Foundation Source, recently hosted a panel discussion with two talented wealth advisors who regularly assist their high-net-worth clients—mostly family offi ces and multi-generational families—with philanthropic planning: Sarah Silverio, Principal at Summit Trail Advisors, and Jan Vega, Director in Wealth Management at Aspiriant.

The summary below highlights some best practices and insights from Sarah and Jan for incorporating philanthropy into the wealth management process.

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