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Helping Clients Successfully Integrate Charitable Giving into Succession Planning (VTC)
May 16 @ 12:00 pm - 3:10 pm
Studies show that over 70 percent of charitable giving is done by individuals during their lifetime; including transfers at death raises that number to 80 percent. Now consider that business owners give at higher levels in comparison to their counterparts. With 31 percent of high-net-worth clients reporting that they would switch advisors if the new advisor would discuss philanthropy, the implications for advisors are clear: Advisors who can offer knowledgeable guidance will distinguish themselves from the others and add tremendous value to advisor-client relationships.
Attendees of this VTC will do just that, learning how to:
- Understand the current climate for giving, given the focus on income-tax-centric planning
- Initiate a conversation with business-owner clients to reveal some of the attitudes and behavioral characteristics inhibiting exit strategy planning
- Have ongoing conversation to prepare business owners for a successful exit, positioning philanthropy as a business tool
- Identify key charitable giving vehicles and determine their suitability in varying scenarios
- Understand the role of charitable planning in financial and tax planning
- Build a collaborative team to achieve business-owner client goals
Moderator Robert B. Wellendorf II, CLU, AEP, CAP, will guide expert panelists Randy A. Fox and Laura J. Malone, CAP, CEPA, in a lively and informative session, incorporating case studies that bring practical applicability to the discussion. The insights gained in this program will empower you to deliver extreme value to your relationships with client business owners struggling with how to integrate philanthropy and the exit/transfer of their business.
Who should attend
- Business & Compensation Planners
- Estate Planners
- Financial Planners
- Insurance Producers
- Investment Advisors
- Retirement Counselors
Robert B. Wellendorf, II, CLU, AEP, CAP is the founder and owner of Executive Solutions. His firm is based in Omaha, Nebraska, however does business in multiple states. Executive Solutions offers specialized services to business owners, including business succession planning and consultation on business exit strategies. Their focus is on the small-sized companies ranging from $5 million – $50 million. Rob’s experience in this marketplace spans over 25 years. He has spoken at a multitude of conferences and events around the country on these topics. Rob is a national officer with the Society of Financial Services Professionals, as well as is extremely active in his local chapter of the Estate Planning Council.
Randy A. Fox is a third-generation entrepreneur and is a founder of Two Hawks Consulting, LLC and EzCharitable, LLC, an online training resource for professional advisors who wish to expand their capabilities in philanthropic giving. EzCharitable has created original content that is useful for attorneys, financial advisors, CPAs all of which will facilitate better philanthropic advice for families of wealth. He is also currently the Editor in Chief of Planned Giving Design Center, a national newsletter for philanthropic advisors. Randy was named the Distinguished Co-Honorary Chair of the 2017 Improving Financial Awareness & Financial Awareness Movement by the Financial Awareness Foundation. In 2015 Randy was awarded the Fithian Leadership Award by the International Associations of Advisors in Philanthropy. Previously, Randy was a founding principal of InKnowVision, LLC, a national consulting and marketing firm that developed estate and wealth transfer designs for clients of exceptional wealth. He served as director and faculty member of the InKnowVision Institute, which provided professional advisors with the advanced technical and interpersonal tools required to attract and work successfully with high net worth clients.
Laura J. Malone, CAP, CEPA is Vice President of Corporate/Complex Giving at American Endowment Foundation (AEF) where she has consulted hundreds of trusted advisors, families and business owners about donor advised funds and other charitable giving strategies. Founded in 1993, AEF is an IRS recognized public charity and is the largest independent Donor Advised fund in the country. Laura has been published in various local and national publications as well as speaks both locally and nationally to financial, tax and estate planning organizations. Prior to her role at AEF, Laura represented the economic and business interests of numerous government and private sector clients through corporate real estate acquisition, disposition and lease negotiations. This expertise has led her to a special concentration at AEF in the acceptance of complex/non-cash assets like closely held stock and real estate as charitable gifts. Laura serves as a faculty member for the Exit Planning Institute’s Certified Exit Planning Advisor (CEPA) Designation. Laura serves as Board President of the International Association of Advisors in Philanthropy and serves on the Boards of Cleveland Social Venture Partners and The Estate Planning Council of Cleveland.