Like many Canadians, you may have identified philanthropic giving as a key priority as you develop your estate plan, but find yourself uncertain how to maximize the impact of every dollar contributed.

Similarly, you may have found yourself supporting the causes that you most care about but are also on the lookout for additional opportunities to increase your impact and create an enduring philanthropic legacy.

This article is for you—here, we discuss two strategies utilizing a life insurance policy that can help you increase your philanthropic impact.

You’re the skilled specialist when it comes to crafting financial plans for your clients—but between the multifaceted tax stipulations, difficult discussions, intricate planning techniques, and the wealth of possible endeavours, philanthropic planning is anything but simple, even for the most seasoned  professional advisors.

If you had the important discussions, what’s next to becoming a subject matter expert on all things philanthropy? As we’ve explored in the previous edition of The Informed Philanthropic Advisor, if you’re not having meaningful, informed conversations around philanthropy with your clients, the research says you might risk losing them. But after you’ve bitten the bullet and planned the discussion, or even had the discussion, what’s next?

Between forming a giving strategy to maximize impact, knowing how and where to give, and the complex tax stipulations that naturally come with charity work, navigating the philanthropic space can be challenging for donors even at the best of times. 

A philanthropic advisor is a vital resource for clients of all backgrounds—from those lacking detailed knowledge in the space, to those who have the experience and understanding, but may not have the time required to carry out the legwork on their own.

But giving isn’t always so easy—even for advisors. Bloom Investment Counsel understands that the intricate complexities of philanthropic endeavours from the advisor’s perspective are not discussed or acknowledged. Amid instigating that difficult initial philanthropic discussion and executing personalized client plans, we know the world of charitable giving is anything but easy. 

But did you know that negating to engage in important discussions with your clients could actually cost you your clients? In this article, we cover important discussions you may wish to have with your clients.

While the charitable giving space is often seen as a community open only to the ultra-wealthy or dominated by men, the philanthropic community is constantly evolving.

It is an invitation to women and minorities to embark on charity on their own terms—and of their own accord.

The charitable giving space in Canada is certainly well populated, with over 170,000 charitable and non-profit organizations in 2021 (of which 85,000 are registered with the CRA), contributing an average 8.1% of total national GDP.

With such an abundance of causes, each with their own story and proposed impact, many philanthropically-minded Canadians have explored and implemented Donor-Advised Funds in their wealth plan to achieve their philanthropic goals. What is a Donor-Advised Fund, and what are the benefits of using one? Read this article to learn more.