Like anything else in your client’s portfolio, charitable dollars are money that needs to be managed and CEO and founder of Charitable Impact John Bromley is imploring the industry to get in the game of helping clients with charitable giving.
Bromley discusses how the current state of the economy is a double-edged sword, causing many to disengage from charitable giving but also making the tax effectiveness of donation an even more attractive option. He argues it’s incumbent on financial professionals to be able to guide clients with sophisticated advice to help them find purpose and leverage the inherent tax incentives.
Charitable giving has a role in Canada’s wealth industry, Bromley says, making the argument that advisors need to step up and be more proactive in managing these funds. “Be a pro at investment management, asset allocation, and customer relationship development,” he urges.
