There is more than $250 billion earmarked for charitable grants sitting within donor-advised funds, according to a recent analysis published by Project Hope.
It’s money that is sorely needed by charitable causes here in the United States and around the world, and Giving Tuesday represents a big opportunity for clients to increase their impact. That’s because many employers and nonprofit organizations offer donation-matching incentives on Giving Tuesday and throughout the holiday season.
The opportunity for an increased impact coincides with an opportunity for financial advisors to deliver added value to their clients, according to experts with Fidelity Charitable. Their research shows that high-net-worth clients prefer advisors who take a more personal approach when discussing philanthropy — both in the context of long-term legacy planning and in more responsive granting.
In this context, the DAF and the adoption of smarter giving practices that maximize philanthropy are quickly becoming a critical part of holistic wealth management. In fact, wealthier investors are now commonly rounding out their financial toolbox of IRAs and 529 plans with the DAF, according to Fidelity.
See the slideshow for a review of seven htips for more effective giving via DAFs during the 2024 holiday season, drawn from reports published by Fidelity Charitable, Vanguard Charitable and other giving experts who have spoken recently with ThinkAdvisor.
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