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20 Oct

Wealth Management Strategies for Maximum Impact

On: 20th October, 2015   //   By: admin

How to Use Wealth Management Strategies to Support a Meaningful Cause

October is a great time for enjoying fall, and it is also a great time for considering your giving plan toward a meaningful cause. With the right wealth management strategies, you can make giving to a charity that is important to you a key part of a lasting legacy. You can also make the process simpler and more rewarding, year-round.

Giving in the United States: On the Rise

In its quarterly UBS Investor Watch, UBS Wealth Management Americas details information about giving trends among the wealthiest Americans. Despite volatility in the market and economic uncertainty, donations overall have increased in the past decade. They’ve also grown among the wealthy population. The survey that included over 2,200 high net worth and affluent investors showed that nine out of 10 millionaires give to charities each year. Nearly four in 10 Americans with a net worth over a million dollars have contributed at least $100,000 over their lifetime.

Making it Count

Many high net worth investors are committed to giving, but are unsure about whether their gifts are making any impact. UBS Investor Watch found that only 20 percent of millionaires believe their giving is highly effective and only 41 percent feel that they have made a significant impact on their communities or society in general.

However, with a carefully planned set of wealth management strategies, high net worth investors can witness the impact of their giving. The report noted that among those with a net worth of at least $5 million, there is a higher level of satisfaction with the impact of philanthropic efforts.

 

It’s Not the Actual Gift Size – But the Giving Process that Brings Satisfaction

While it might be tempting to assume that the difference is the ability to donate more money, increased giving is not the key to impacting the causes you care about. Instead, those with a higher net worth were more likely to utilize giving tools, like the advice of a qualified wealth management advisor.

Many individuals use a haphazard approach to giving instead of using specific wealth management strategies to make an impact on the causes they care about. What happens is that as different groups appeal for funding, the investor must make an on-the-spot decision about whether to donate. This approach can feel ineffective as funds are spread out among a number of causes.

This fall, take a moment to consider a cause that’s meaningful to you. For example, many consider October as Breast Cancer Awareness Month as part of a donation strategy placed in their overall management strategy, with the help a qualified investment advisor. This way, instead of being surprised by the arrival of an appeal by your favorite charity each year, you can welcome it as a celebration of the impact you are able to make toward a cause that is important to you.

At Aura Wealth Advisors, we work with investors to create a legacy that reflects the causes and interests that are important to you. Call us today to set up an initial consultation and let’s get started.

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