Adam Nash, the co-founder and CEO of Daffy joins Mike Langford to explore the power of donor advised funds for creating opportunities for your clients and their families to make the kind of meaningful impact they want on the world.
Daffy, which is short for "Donor Advised Funds For You" is an innovative solution designed to make it easier for financial advisors and their clients to collaborate on plans for charitable giving.
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Key Takeaways From This Episode
Donor advised funds are a powerful tool for charitable giving and tax planning.
Financial advisors should incorporate charitable giving into their clients' financial plans and understand their clients' values.
Daffy offers a family plan that allows multiple generations to participate in charitable giving and have meaningful conversations about their values.
Technology can make it easier for people to give to charity and automate their giving goals. Daffy offers features for financial advisors to use with their clients, including multi-user support and the ability for advisors to perform financial actions on behalf of their clients.
Advisors are encouraged to talk to their clients about their charitable giving goals and help them create a plan.
Daffy provides content and tools to support advisors in these conversations.
The surprising benefits of Daffy include the support and collaboration from other donor advised funds and the ability to offer integrated charitable matching programs for companies.
Resources Mentioned In This Episode:
Daffy for Advisors - Learn how to provide Daffy to your clients and help them manage their families donor-advised funds.
Daffy for Work - Learn how to offer Daffy to your financial advisory firm’s team.
BNY Mellon Charitable Giving Study - Learn what clients expect from their financial advisors when it comes to advising on their charitable giving efforts.
How Financial Advisors Can Help Protect the Privacy, Security, and Reputation of Their Wealthy Clients - Mykolas Rambus of Hush
Reimagining Estate Planning As Helping Clients Make Premade Decisions For Their Loved Ones - Andrew Crowell of D.A. Davidson
What Exactly Is Sustainable Investing? And Why Are Today's Clients Demanding It? - Peter Krull of Earth Equity Advisors
Chapters
00:00 Introduction to Donor Advised Funds and Charitable Giving
02:23 The Need for Innovation in Donor Advised Funds
05:41 The Importance of Setting Goals for Charitable Giving
11:20 The Lack of Innovation in the Donor Advised Fund Industry
15:26 Engaging Multiple Generations in Charitable Giving
19:12 The Universal Value of Giving
21:06 Using Technology to Make Giving Easier
22:32 Incorporating Charitable Giving into Financial Plans
22:45 Using Daffy Features with Clients: A Guide for Financial Advisors
26:22 Incorporating Charitable Giving into Financial Planning: Tips for Advisors
32:03 Tax Strategies and Charitable Giving: A Winning Conversation for Advisors
38:38 Collaboration and Surprising Benefits in the Donor Advised Fund Industry