The Advisor’s Role in Philanthropy

An informed advisor should be prepared to talk with clients about charity.

Why? A host of reasons:

  • Many clients are already in the habit of supporting charity, so incorporating charity into the planning process is a natural reflection of most clients' values.
  • For clients with substantial estates, minimizing or eliminating estate taxes is difficult to do without some charitable planning. Regardless of the status of the estate tax, charitable planning offers tax advantages in many other situations, such as the sale of highly appreciated stock, business succession planning, income tax planning, and dispositions of retirement accounts on death.
  • Philanthropy can resolve personal issues that are important to clients. And many professional advisors find that assisting clients in this area is personally rewarding as well, because they struggle with the same issues.

Despite the reluctance of many advisors to bring up the question of charitable giving, clients want help with their philanthropy and are looking for informed advisors.

Good charitable advice strengthens the client relationship by providing better service to the client and generating greater client loyalty. Clients expect to be referred to experts in charity, as they would to other specialists, like lawyers or accountants.

Although The Dallas Foundation is a public charity, it does not promote one charitable cause. Instead, its mission is to build and hold a permanent and growing endowment and other charitable funds to provide for the community's changing needs. The Foundation can help your clients achieve goals in ways not available through other organizations.

For a more complete discussion of the Foundation's services, as well as some suggestions on how to raise the charitable giving question with clients, please request a copy of the Foundation's Professional Advisors' Handbook by contacting Gary Garcia at gwgarcia@dallasfoundation.org or call us at 214.741.9898.

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