Financial advisors, before your clients write checks to charitable organizations, consider another option. Encourage them to give more efficiently. Consider donor-advised funds for charitable giving.
Many advisors I speak with don’t consider charitable giving as an area that they can help their clients with, but really, charitable assets are no different than any other asset, particularly when it comes to investment advice. A donor-advised fund enables investors to contribute to charities in a way that often makes better financial sense, while reaping more emotional benefits from the gift. The receiving charities gain from it, and so do the donors.