17 April 2024
Elston Quarterly Portfolio Update Q2 2024
In this video, Portfolio Manager David Seager provides his perspective on the key questions discussed in the recent quarterly asset allocation meeting. Read more
19th February 2023 - Asset Management, Philanthropy and NFP’s
As interest in philanthropy grows among high-net-worth individuals and families, professional advisers are becoming more committed to engaging their clients in discussions. However, many advisers lack the knowledge of philanthropic structures and the charitable sector and feel unsure of how to approach the conversation with their clients.
Starting the conversation about philanthropy does not need to be difficult. Here are my tips on how to get the ball rolling:
It may seem obvious, but the first question you should ask your client is ‘Do you support any causes or charitable organizations?’
If the answer is “no,” that’s ok. You’ve learned something useful about your client and can move on to supporting them in other ways. Remember, over 80% of Australians give to charity. Chances are, your client will indeed support a charity, and more questions will naturally follow.
If a client has previously donated or volunteered for a charity, ask them about their experience. It can provide insight into their underlying motivations and passions. To get the discussion started, here are some examples of powerful questions:
In essence, giving is a deeply personal act. Several of my clients give to help others who are dealing with a difficulty that they have encountered in the past, such as providing scholarships for underprivileged students or supporting individuals undergoing treatment for breast cancer.
Advisers who successfully integrate charitable giving in their client conversations don’t necessarily say, “Let’s talk about philanthropy.” Rather, they incorporate the topic into their overall discussion. I recommend putting it on the agenda for the first meeting with a client, or it could be included in the initial data collection form for new clients.
Conversations about legacy are particularly relevant to estate planning lawyers and financial advisers who are likely to be having conversations about long-term plans.
Finally, incorporate philanthropy into regular tax discussions: In Australia, the tax benefits of giving to DGR charities are currently uncapped, making it a useful topic to add to tax planning discussions. If your client is already making significant one-off donations at tax time, why not suggest that they explore a more structured approach? It could be the tax-effective gift that keeps on giving.
If you are a professional adviser and would like to develop a better understanding of the fundamentals of philanthropy and structured giving, consider completing our Philanthropy Training session designed for advisers (FAAA CPD accredited). If you would like to know more, please feel free to email me or call 07 3211 9555.
17 April 2024
In this video, Portfolio Manager David Seager provides his perspective on the key questions discussed in the recent quarterly asset allocation meeting. Read more
10 April 2024
Elston Portfolio Manager Gary Merkel has picked three constituents of the ASX Small Ordinaries Index in the latest Livewire article. Read more
25 March 2024
Just before Easter, Livewire asked four fundies to pick which businesses they thought had the hop on some of the others in their investment universe. Read more
18 March 2024
Following on from the reporting season, Co-Founder and Portfolio Manager Bruce Williams has provided a brief overview of the recent results and what that indicates for the portfolio positioning. Read more
31 January 2024
The Australian Financial Review has recently named Elston Australian Emerging Leaders in their top performers 2023. Read the article to find out more. Read more
18 January 2024
In this video, Portfolio Manager Leon de Wet provides his perspective on the key questions discussed in the recent quarterly asset allocation meeting. Read more
1 December 2023
HUB24 announced the launch of a new whitepaper, ‘Directing the matrix: meeting the advice needs of high net worth clients’. Read now to get insights from Elston Head of Philanthropic Services Susan Chenoweth and many other experienced advisers. Read more
8 November 2023
Investing in what you are passionate about, or even what you consume everyday, can give you an edge. Find out what local stock Elston Co-Founder Bruce Williams has in mind. Read more
13 October 2023
What should advisers think about as they move to managed portfolios? Elston Head of Adviser Services Mark Smith shared his views on how to successfully make the transition. Read more
4 October 2023
We all know Australia is the lucky country, but could it soon be the luckiest? Elston Co-founder Andrew McKie believes it may be possible, and advisers need to take heed. Read more
21 September 2023
Andrew McKie joined 5 other industry leaders at LiveWire Live 2023 as they presented their shocking prediction for the future. What did he predict? And is it good news or bad news? Read more
14 September 2023
Portfolio Manager Leon de Wet has provided a brief overview of the recent reporting season results and what that indicates for future earnings and the portfolio positioning. Read more
25 August 2023
Are our two big supermarkets worth checking out? Read the latest Livewire Markets article to see what Elston Co-Founder and Portfolio Manager Bruce Williams thinks. Read more
12 August 2023
Should investors buy AMP or bypass it? See what Elston co-founder and portfolio manager Andrew McKie thinks and find out how he’s feeling about the ASX100 in general. Read more
1 August 2023
In this video, Portfolio Manager Leon de Wet provides his perspective on the key questions discussed in the recent quarterly asset allocation meeting. Read more
31 July 2023
What makes Carsales such an attractive stock? Elston Portfolio Manager Bruce Williams examines the key drivers that are working for this digital marketplace both here and overseas. Read more
26 July 2023
Last year, some bond indices fell into a black hole. Are good returns from fixed income investing still a galaxy far, far away? Or are there brighter days on the horizon? Read more
23 July 2023
In the latest Livewire's edition of Buy Hold Sell, Andrew McKie talked about which ASX-listed stocks he would want to own (or not own) in a Goldilocks scenario. Read more
20 July 2023
Elston Co-Founder Andrew McKie sat down with Han Lee from Livewire and Rob Crookston from WILSONS to discuss how they find “quality” companies on the ASX. Read more
15 July 2023
Andrew McKie was asked to analyse three stocks that are widely perceived to have those rock-solid qualities and assess whether they have become overcrowded, and name one quality company in the recent Livewire interview. Read more
12 July 2023
If you had a spare $10,000, how would you invest it? It's an interesting hypothetical and one that Elston Portfolio Manager Leon De Wet was happy to answer for Livewrire. Read the article to see his picks. Read more