Asset Giving Can Expand a Charitable Vision

By Jake Tometich 2 months ago. Advising StrategyCharitable Giving

Remember this: Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously. Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver. 2 Corinthians 9:6-8 NIV

Charitable giving has long been a focal point of tax and estate planning. For a lot of advisors, conversations about charitable giving start with tax reduction. What starts as a tax strategy can evolve into a discussion about a client’s passion to use whatever means God has provided to make a lasting impact on their communities and cherished causes. Advisors have the opportunity to help their clients think bigger about their mission by helping them devise new, creative giving strategies—from cash, to cryptocurrency, to appreciated assets.

Growing Desire to Give

There has been a significant uptick in giving over the last few years, beginning with the COVID-19 pandemic and carrying into today, with the events in Ukraine in recent weeks. This comes as a surprise to many advisors and family offices I speak with. I see it as proof that donors are more inclined to giving and philanthropy—even amidst tremendous uncertainty and volatility—than many advisors realize. This puts you as an advisor in the position not only to guide a client/donor through tax and estate issues amidst a challenging geopolitical climate, but also to connect on a much deeper, emotional level with the families you serve by discussing causes near and dear to their hearts.

Help Your Clients Understand Asset Giving Opportunities

Given donors’ increasing desire to give in the face of new global challenges, now is an excellent time to help them understand their opportunities to give complex assets. It is no secret that there are huge benefits to giving appreciated assets to charity. Donor Advised Funds (DAFs) and Advisor Managed Accounts (AMAs) are simple, vastly under-utilized tools for initiating truly meaningful conversations with your clients. When donors come to understand the possible tax savings afforded by an asset donation, they often feel motivated to think bigger about the causes they can support. Whether your client can give the most basic cash contribution or the most complex asset, there is an excellent chance we at The Signatry have experience facilitating that type of gift. If not, we are always up for a challenge.

It has been an incredible blessing to work in both the wealth management and the philanthropic worlds over the last 15 years. The more I work alongside advisors, registered investment advisers (RIAs), and family offices that intentionally make generosity a cornerstone of their businesses and their own lives, the more amazed I am at the incredible impact a simple conversation about giving can have.

Jake Tometich
Jake Tometich As Director of Investment Education and Accounts, Jake transforms charitable giving and investments through Advisor Managed Accounts (AMAs). He holds a FINRA Series 65 License and Harvard Business School Certificate in Alternative Investments, has spent over 15 years in a number of roles in the investment management industry, and has co-founded a 501(c)(3) with his wife, Brooke.

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