Elsewhere online
January 09, 2015

Mission Statements Can Lend Focus to Haphazard Giving

Financial advisers tout the benefits of clients crafting charitable mission statements in a The Wall Street Journal "Wealth Adviser" feature. The article highlights cases in which developing statements that identify areas of philanthropic focus or set maximum donation amounts has helped clients focus their charity choices and stop giving in to every "ask."

"It allows clients to prioritize their most heartfelt goals and really focus on what they want their legacies to be," said Jason Cole of Abacus Wealth Partners, a Philadelphia firm that manages about $1-billion in assets.