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For Professional Advisors
Despite the current fluctuations in the stock market, there remains a large number of individuals with significant assets. Most of those wealth holders have acquired the bulk of their assets through hard work. They are first generation as opposed to inheritors of their wealth. In addition to the pace of personal wealth creation, a significant transfer of wealth will occur over the next 50 years – estimates of this transfer range from $50 trillion to $150 trillion.
At the same time, individual philanthropy continues to expand at an ever increasing rate. People from all social and economic backgrounds are giving back to their community in record numbers. Community-based philanthropy is in the front ranks of this movement.
In 1996, total annual gifts to community foundations was $1 billion. In 2006, the figure was over $6 billion. These trends are affecting professional advisor practices in two significant ways:
First, advisors are incorporating charitable giving as an integral component in their financial and estate planning activities. They’re including the question “do you have charitable giving interests?” in standard planning discussions. Charitable giving advice is a value-adding element in the advisor’s portfolio and a service welcomed by clients who expect an integrated approach to their wealth management.
Second, advisors are incorporating community foundations as trusted resources in delivering charitable giving knowledge and products to their clients.
Working Together
The Essex County Community Foundation understands the needs of the community and your clients. ECCF is pleased to work with you in providing information to your clients with respect to our programs and services for donors, in order to help donors make their charitable giving more effective, meaningful and enjoyable. Specifically, we:
- Partner with you to assist donors with their charitable estate planning, help them learn how to meet their charitable goals and how to receive maximum tax benefits they may not realize on their own.
- Believe professional advisors play a vital role in providing opportunities for their clients to achieve their charitable wishes.
- Understand the importance of getting you the information you need quickly, whether you are a relatively new or seasoned charitable gift planner.
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