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FEATURED ARTICLE
The benefits of planned philanthropy: giving families the time and opportunity to think bigger
It’s not unusual for affluent families to spend months planning investments, succession and taxes. But one of the most meaningful parts of their wealth—how they’ll use it to improve the world—can often get squeezed into year-end giving.
Philanthropy experts say there’s a better way: treating philanthropy not as a year-end obligation, but as a thoughtful expression of family values and an essential part of family governance. Done well, philanthropy can help families create an impact that lasts beyond their own lifetimes, while deepening family relationships, and passing on values to the next generation.
The process begins with a conversation about values and priorities. Toronto-based philanthropy advisor, Paul Nazareth, says too many families treat giving as a financial transaction instead of a values exercise.
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MEMBER CONTENT
Calling yourself a multi-family office is easy, operating like one is not
The term “multi-family office” (MFO) is in the spotlight in Canada. Across the investment management industry, firms are rapidly evolving and many are moving beyond traditional wealth management and becoming and/or labelling themselves as an MFO.
A bare-bones description of an MFO is a firm that offers comprehensive, customized wealth management services to multiple high-net-worth families. But just how comprehensive is comprehensive? The range and scope of services can vary significantly by firm, leaving families to navigate a fragmented and fast-growing landscape.
So, calling yourself an MFO and acting like an MFO are two different things.
These articles are Member Content, provided by PortfolioXpressWay.
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