Almost half (46%) of advisors believe their clients donate to charity to reduce their taxes, when in fact only 10% do.
Most advisors offer their services to the wealthy. The people honored here provide planning help to clients who can least afford it - and need it most.
Among the very wealthy, family foundations long have been a common vehicle for charitable giving. However, more families than ever are skipping foundations altogether in favor of simpler and cheaper donor-advised funds.
People are starting to think more strategically about giving, says Schwab Charitable President Kim Laughton. It really started last fall. Whats nice is its continuing this year.
William F. Austin founded the Starkey Hearing Foundation in 1984 with the premise: Alone we cant do much, but together we can change the world. Although hearing loss affects 63 million children worldwide, many do not have access to hearing devices. Starkey Hearing Foundation fits and gives more than 100,000 hearing aids annually, and as a member of President Clinton's Global Initiative, it has pledged to fit one million hearing aids this decade. Heres how one advisor encourages philanthropic efforts of his clients by being a philanthropist himself.
Read More: How One Advisor Helps Clients Give Back
Charitable lead annuity trusts have become even more attractive because of a recent U.S. Tax Court ruling.
Karla D'Alleva Valas, a managing director of the Complex Asset Group for Fidelity Charitable, says she cringes during her church's services when congregants drop envelopes of what she assumes is cash into the donations basket. Why? Cash is expensive, she told advisors at the Women Advisors Forum in Dallas on Thursday.
Financial advisors underestimate their clients interests in philanthropy, and consequently miss out on opportunities to tap into those passions and expand those relationships.
The Financial Planning Association and the Foundation for Financial Planning are joining forces to boost the organizations pro bono efforts.
The Internal Revenue Service is warning potential donors to beware of charity scams operating in the wake of the explosions last week at the Boston Marathon and a Texas fertilizer plant.
A group representing charitable organizations said it is concerned about a proposed cap to the charitable tax deduction included in President Obama's budget plan.
Helping clients with charitable planning changes the conversation and the dynamic of the client-advisor relationship says advisor coach Matthew Halloran.
A coalition of charities has expressed concerns about a Senate budget proposal that could potentially place a limit on charitable deductions.
More than one in five worry they may not be doing enough to make a difference, with 82% subscribing to the belief that greater wealth brings a greater obligation to be philanthropic.
What's worse than battling with a loved one over money? Watching another couple argue about money ... right in your conference room.
After election jitters and the fiscal cliff melodrama, advisors find optimism - and a planning opportunity.
As we head into the 2013 tax season, advisors should tell clients to be sure they wont be hit with a Durden-style disallowance
Taxes and the economy colluded to make 2012 a record year for grants and contributions.
Potential tax increases influence timing and structure of gifts but not so much the amount, according to Bank of Americas study of High Net Worth Philanthropy
Baird's director of estate planning reminds clients that just because they can make large tax-free gifts this year, doesnt mean they should.
Having trouble convincing your clients to think charitably? If so, you might want to mention that a number of studies have shown that people who give to causes they believe in find that doing so feels good, really good, according to Eileen Heisman, president and CEO of the National Philanthropic Trust in Jenkintown, Pa, which manages donor-advised funds.