The Philanthropic Advice Gap

by | Nov 26, 2019 | Smart Financial Tips

Professional financial, tax and legal advisors typically do a strong job helping clients structure their philanthropy through the right vehicle and providing sound financial and budgeting advice.  Where they often fall short is in helping clients discover core values, consider philanthropic priorities and evaluating nonprofit institutions and programs to fund. At Team Hewins we are committed to helping our clients bridge this philanthropic advice gap.

Recently, Team Hewins gathered South Florida-based clients and advisors alike in Miami to have a conversation about philanthropy that was facilitated by Deborah Bussel, Principal & Founder of Bussel Philanthropy Associates. Deborah compared the philanthropic journey to a road trip with these six points through which most travelers pass:

  1. Fueling Station
  2. Wealth Event
  3. Round About/Holding Pattern
  4. Moving Forward
  5. Ramping Up
  6. Cruising Along and the Scenic Overlook

Those participating spent most of the time at the Fueling Station sharing the core values that drive their interest in giving and are the fuel for the journey ahead. Most in the group shared their meaningful experiences with giving and volunteering and/or explored the underlying values that they hold dear.  Some of the core values mentioned were inclusiveness, religious practice, family, justice, compassion, community, sense of place, caring for others in need, instilling the spirit of philanthropy in the next generation, effectiveness and impact, “doing things well,” and “being part of something bigger than oneself.”

Now that they have “filled up,” several in the group who have made the decision to engage in giving are interested in exploring how they can enliven their core values by practicing philanthropy with intention from a solid understanding of how they can make a difference.  Team Hewins is considering offering a follow-up conversation in a workshop format to be conducted in the spring.

Team Hewins, LLC (“Team Hewins”) is an SEC-registered investment adviser; however, such registration does not imply a certain level of skill or training, and no inference to the contrary should be made. We provide this information with the understanding that we are not engaged in rendering legal, accounting, or tax services. We recommend that all investors seek out the services of competent professionals in any of the aforementioned areas.

Written by Deborah Bussel and John Bussel