10 Must-Knows to Get the Most Out of Charitable Giving

Advisors can’t give “capital T, capital A” Tax Advice, but the consideration of taxes is an essential part of the job of a modern financial planner. In fact, those advisors who aren’t helping their clients use tax-advantaged giving strategies and incorporating tax considerations into the investment management and estate planning process are set to fall behind their tax-savvier peers.

John Nersesian, PIMCO’s head of advisor education, offered up this insight during a recent Kictes.com webinar on the topic of helping clients build a charitable giving program to maximize impact and deductions. As Nersesian emphasized, clients expect tax-aware service from their wealth management professionals, especially those in the high- and ultra-high-net-worth segments.

Fortunately, Nersesian said, there are many places to turn for good information, as well as a wealth of expanding tools and services that advisors can lean on to step up their tax game. As such, advisors needn’t fear tax discussions as they become an important part of their evolving value proposition.

See the accompanying slideshow for 10 highlights from Nersesian’s presentation. The basis for giving is typically for charitable and not tax purposes, he emphasized, but that is somewhat beside the point. Simply put, understanding the trends and strategies around charitable giving can serve as an additional value-add that advisors can bring to their financial planning clients.