News for Professional Advisors

Engaging the Next Generation


“The greatest wealth transfer in modern history has begun,” according to a report in the Wall Street Journal. And, with tax reform’s big bite into estate values off the table, at least for now, many of your older clients may be thinking seriously about their legacies.

And these legacies will be significant. According to data collected by the Federal Reserve, by 2042, an estimated $70 trillion will change hands.

As you offer advice to your clients, an important part of the conversation will likely include philanthropy. In our work with advisors and donors, we know these conversations often surround the benefits of a donor advised fund over a private foundation.

Often, donor advised funds offer significant flexibility and benefits over private foundations. See our comparison of these giving vehicles.

Perhaps more importantly though, philanthropic planning is often an excellent way to involve the next generation. Bringing family members to the table increases the likelihood of keeping next-gen family members as clients.

Want to learn more about how to help your client establish their charitable legacy? We’re here to help!