I’m Dale Koblenzer, financial advisor at Merrill Lynch. In a relationship-driven business like ours, I’m always looking for ways to add value to my client relationships.
One of the greatest values I can offer clients goes beyond dollars and cents: It’s helping them create their charitable legacy. My partner in doing that is Akron Community Foundation.
The community foundation leaves the financial expertise to me. I help my clients wisely invest their money, and Akron Community Foundation helps them make good charitable decisions. For instance, if a client has an upcoming liquidity event, within 24 hours and with only $5,000, Akron Community Foundation can start them a donor-advised fund. But if the gift is large, I can continue managing the assets, maintaining that ever-important trust relationship I work so hard to build.
When I explain the benefits to my clients, it’s an easy sell:
- Maximum tax advantage for a charitable gift, much greater than creating a private foundation. That deduction is immediate, and clients can decide later which agencies to support.
- Knowledgeable local resource. Because the community foundation is in Akron, not hundreds of miles away, they know what’s going on in our community. So clients can give locally, have their money managed locally, and see the fruits of their gifts locally. The community foundation handles all the paperwork: I manage the investments and they handle all the administration.
- A family legacy. Donor-advised funds can be passed down from generation to generation, continuing the family name in perpetuity. This creates an immediate relationship with family members I might never have met otherwise.
If you’ve never done so, I encourage you to talk to Akron Community Foundation about how they can enhance your client offerings. It’s fast, it’s easy and it’s good for everyone, including the community.
Akron Community Foundation offers many charitable partnership options for financial managers. What can we help you with?