“Charitable giving may not be the first reason someone consults an advisor, but it’s an area where they can help clients develop a strategy” writes Sam Del Rowe of Financial Advisor IQ in his article, Advisors Can Help Clients Develop Giving Strategies.
Del Rowe continues, “Charitable giving by wealthy Americans increased by 48% on average to $43,195 in 2020 from $29,269 in 2017, according to a report by Bank of America’s private bank and the Indiana University Lilly Family School of Philanthropy.”
StrongBox Wealth’s own Chuck Cooper III, CFP® was interviewed by Financial Advisor IQ on what trends the firm is seeing in the industry and how they are advising charitably inclined clients. In the article, gifting appreciated assets, utilizing a Donor Advised Fund, and bunching multiple years’ worth of giving into one year are all discussed as strategies to optimize charitable giving. StrongBox Wealth encourages clients to contact their office to schedule a private consultation to design a custom fit charitable giving strategy.
Chuck Cooper III, CFP®
Wealth Advisor, Managing Partner