Help your clients increase their giving power.
Will Ed: One reason I think I ended up in this business and being a financial advisor is, just, I just like helping. So, our mission is to help our clients achieve their goals so they can make life better today and for future generations. And so, in a conversation with the client around those goals, a lot of times it ends up including philanthropic endeavors, certainly. And they’re thinking about causes that are important to them. Alex and I's relationship goes back to our law school days and then we reconnected when our daughters ended up in preschool together at an early age and our wives hit it off pretty quickly.
Alex: My name's Alex. My late wife, Isse, was diagnosed with colon cancer in November of 2017.
Will Ed: When Isse got sick, my reaction was, you know, how can we help as friends, how can I help as your financial advisor.
Alex: He was naturally a person that I would turn to, that I trusted, that I had a relationship with. He understood what our concerns were with Isse’s recent diagnosis, and he just had a connection with our family that nobody else did.
Will Ed: Alex and Isse started doing a lot of planning. And they had had some professional successes, including the purchase of Isse’s company. So, we started thinking about their resources and priorities.
Alex: In being thoughtful and knowing who we were, he was then unable to turn us on to the Schwab Charitable donor-advised fund.
Will Ed: They were in the midst of this health challenge with Isse’s cancer, but we wanted to make sure that we established the donor-advised fund in the year, given Isse’s company had been acquired and Schwab Charitable was a great solution to point them to because you can contribute significant assets in any one year take that deduction but then you may give your gifts over multiple years.So it is a very powerful tool to allow them to make contributions for years to come.
Alex: I knew the money was there, that was just a component of it that was taken off the table in terms of, where do you plan to give, how much do you plan to give going forward? Initially I was not focused on that, you know, I was caring for Isse. And then I was caring for the kids after Isse’s passing and making sure we were all managing ok. So it was just very comforting to know I could do what I wanted to, when I wanted to.
Will Ed: And for Alex and Isse, actions speak louder than words. They wanted their children to see them being charitably inclined, to see them investing in causes that are important to them, in causes that can make a difference.
Alex: Isse was an incredible human being. I mean, she just, was always thinking of others and just didn’t want anyone to experience what we were going through as a family. So, it's always been at her core to be very thoughtful and giving. With the Schwab Charitable donor-advised fund, that definitely keeps her legacy alive.