Once upon a time, investment advisors tended to limit their activities to retirement planning for individuals and transaction-based investment services. How things have changed. Advisors now are focused on wealth planning for families and a full range of solutions for those families. Among the growing range of advisory and wealth services offered by leading providers are those associated with the charitable giving activities of their clients. Building on the recently released report on donor-advised funds, the lead research article in the Winter 2019 Fee-based Report looks at trends in charitable giving; the interest shown by investors in receiving advice on their giving options, strategies and tactics; how wealth managers and advisors are responding; and the size and scope of the opportunity. Given that nearly as many Canadians donate to charity as contribute to an RRSP, and that about 30,000 advisors are linked to a charitable giving program, this is a story that is relevant to all channels.
This edition of the Fee-based Report also comments on the impact of the weak markets in the last half of 2018 and looks in detail at the shifts occurring in the wealth management industry that could have major implications over the long term.”