A recent study by Fidelity offered this interesting insight: while a majority of advisors believed that their clients are interested in receiving charitable advice, only slightly more than half (52%) proactively offered such advice.
Donor advised fund usage is on the rise. This rise has been noted by The Wall Street Journal and other periodicals. A recent survey by Fidelity noted the same. It used to be that when someone started to think about becoming “philanthropic,” they set up a private foundation, which involved legal costs and filing an annual tax return. Often the process proved cumbersome. Today, the answer has become donor advised funds for the following 5 big reasons:
It’s October, but it is year end tax season. I work with people all across the country. Each year, we see people set up donor advised funds in the month of December. In fact, we’ll see 50% of our activity take place in the month of December. While it’s a good thing that we have that kind of activity, it’s also a lesson for those planning now.