Benefits for Clients and Advisors
Rochester Area Community Foundation considers professional advisors — including attorneys, accountants, financial planners, investment professionals, and insurance agents — to be valuable partners in philanthropy. We work with you to help your clients develop plans that fit their financial needs and their charitable interests.
Talking About Philanthropy With Clients
To help introduce your clients to the Community Foundation, feel free to share this overview packet, which contains a fact sheet, frequently asked questions, investment fees, and performance results (among other resources).
A recent U.S. Trust Study of the Philanthropic Conversation found that high net worth clients want to be talking about charitable giving with advisors early in their relationship and in a meaningful way. Many advisors, however, may not bring up the topic of philanthropic giving until they have a better handle on a client’s personal and financial goals. In other words, the time is now.
The study also found that clients want advisors to:
- Better understand their motivations for charitable giving;
- Have meaningful, values-based conversations rather than focusing solely on tax or wealth restructuring perspectives; and
- Talk about how to involve children and grandchildren in charitable giving.
Community Foundation staff would be happy to help you in these discussions with clients, explain the range of charitable options depending on how involved they want to be, and assist in resolving complicated estate planning issues.
Professional Development Opportunities
The Community Foundation offers a variety of professional development events for advisors. These include an Open House in October; a free, non-credit seminar in February; and a half-day seminar in the summer with a national speaker and the opportunity to receive professional credits. Learn more about events for professional advisors.
Financial Management Options for Advisors
Financial advisors working with clients to create funds of $2 million or more may request the opportunity to continue managing the funds once they are contributed to the Community Foundation. The request is subject to the review and approval of our Investment Committee.
The Community Foundation also participates in the American Funds Community Foundation Program that allows financial advisors to receive compensation for continued management of client assets given to the Community Foundation for qualified charitable agreements. This program provides your clients with maximum tax benefits on their charitable giving while providing you an opportunity for continued involvement. Learn more in this American Funds document about community foundations.