Professional Advisors Information/ Toolkit

Many Islanders who are interested in better financial planning and legacy giving, and many groups and organizations who are acting as trustees for certain investments funds (i.e. church cemetery committees, trusts set up some time ago, etc) often need professional help and guidance. Many approach professional service providers such as financial planners and accountants who have expertise in tax planning and managing financial investments, and lawyers who assist with estate planning.

CFPEI’s capacity to offer a wide range of endowment funds may help clients of such professionals achieve their financial and estate planning goals. By working more closely with the Foundation, professional advisors and tax planners may be able to offer their clients access to options that can assist them in reducing their taxes while creating a family or community legacy. Services provided include:

Professional Administration and Management of Funds: our fund investment portfolio is managed by Phillip Hagar &North (PH&N), a professional investment management company; PH&N works closely with the Foundation’s Investment Committee, and is guided by our Investment Policy and Guidelines.

Fund Administration Support: fund management, tax receipts for reporting, fund granting, etc.

Donor Relations and Stewardship: CFPEI staff coordinate a variety of philanthropic procedures including gifts as appreciated securities, life insurances, and bequests from estates.

Marketing and Public Relations: CFPEI provide ongoing promotion and visibility of Funds as part of the Foundation’s ongoing marketing and public relations activities.

• Low Cost Fund Management: placing a fund with the Foundation can save an organization thousands of dollars a year in bookkeeping, investment management fees, and staff time.

Some of the ways CFPEI can help professional advisors and add value to what they are able to offer their clients include:

  • The Foundation has knowledge and expertise on charitable givings; we can help the donor see the positive social impacts of one’s charitable givings or social-minded investments at both a personal and community level.
  • The Foundation has a long-standing interest in the well-being of Island; we can help direct a donor’s interest to a particular cause or need.
  • The Foundation has the capacity to deal with a wide variety of assets, including cash, appreciated securities, and real estate. These can be assets that prospective donors may use as part of their immediate charitable givings strategy, or as part of their estate planning.
  • The Foundation help donors connect across family generations. A family-named fund carries forward, and future generations of the family can remain involved with the Fund and its legacy.

In many ways, the Foundation can be the ideal partner to work with professional advisors; you remain in control of your working relationship with your client, and the Foundation is able to offer a range endowment fund options, delivered in a ‘user-friendly but professional manner. And for a client, starting a fund at the CFPEI is both far less expensive, and easier, than starting a private foundation.

Professional Advisors eResource

The following is a guide for professional advisors. Use the tabs in the right-hand sidebar to navigate through the guide:

http://communityfoundations.ca/guide/professional-advisors-eresource/

With 84% of Canadians contributing to charity on an annual basis*, charitable giving is becoming an increasingly important part of your client’s overall financial plan.

Add charitable planning to your practice – or enhance what you already do – with practical online tools and resources designed for you and your clients.

With more than 80 years of charitable experience, community foundations can help you build a stronger relationship with your client and make a difference in your community at the same time.

Did you know?

Research shows that only 7% of Canadians would leave money to charity in their will, in the absence of a specific discussion around charitable giving. However, if the issue is raised with them, perhaps when drawing up a will or financial plan, the figure rises to 27% – more than a three-fold increase.


* Note: Source: Caring Canadians, Involved Canadians: Highlights from the 2007 Canada Survey of Giving, Volunteering and Participating, Michael Hall, David Lasby, Steven Ayer, of Imagine Canada and William David Gibbons, Statistics Canada, 2009.