Working with Professional Advisors
More and more independent financial advisors are being asked for high-quality advice regarding philanthropy. Clients are interested in the financial return on their giving, the impact they can have on their local community and the legacy they can leave.
In your capacity as a professional advisor, solicitor, accountant or wealth manager, partnering with HIWCF will enable us to meet your clients’ charitable goals together. We can offer a suite of advice and services according to what your clients need – from inexpensive grant making advice or managing Flow Through grant funding, right through to creating an Endowment Fund through a Will or immediate donations. We can work with you and your client to find the most suitable, tax efficient option for them and their families.
How We Can Help
HIWCF provides a range of personalised, flexible and stress-free solutions that will meet or exceed your clients’ needs and expectations:
- Leaving a legacy or gift in their Will
- Setting up a named fund (either Endowment Fund or Flow Through Fund)
- Setting up a memorial fund (generally Endowment Fund)
- Transferring the burden of running a charitable Trust
Benefits For Your Clients
Working with HIWCF allows your clients to structure their giving in a tax-efficient way, offering an enjoyable alternative to creating a new charitable trust, which can be complicated and costly to set up and manage.
The benefits for your clients of giving through the Foundation are:
- We are local – your clients’ funds will be used to support the local community in which they live or work. Clients can engage with the projects they have supported, so they can see first-hand the positive impact that their charitable giving is achieving.
- We are impartial – you may be reluctant to recommend specific charities or voluntary groups to your clients. HIWCF does not favour any particular cause or theme.
- We are flexible – with a personal named fund (which operates in a similar way to a charitable trust, without the associated administration), your clients can choose the issues they wish to support across any charitable cause or theme.
- Clients can change their focus at any time, to respond quickly to emerging social need, and can be involved as little or as much as they like in the grant-making process.
- We are quick and efficient and can set up a named fund after just one meeting rather than waiting several months or longer to register a charitable Trust.
- We carry all financial and legal responsibility. Setting up a charitable Trust can be time consuming and costly to establish and administer. The onus on Trustees is increasing: to invest and monitor the investment of funds, to ensure regulations are followed in grant-making, to meet the stringent needs of accounting requirements under SORP as well as the independent scrutiny of accounts. With a named fund, all responsibilities lie with our HIWCF Board of Trustees.
- We make giving easy – depending on the structure we can identify projects for funding; work with the groups your client prefers to ensure the funds are well utilised or promote your clients’ fund and invite applications from community groups, managing the whole grant making process.
- We have excellent knowledge of local need in our communities and can match your clients’ interests to specific projects, areas, causes and initiatives.
- We encourage donors to be involved in deciding which community projects to support.
- We help your clients give tax-effectively – as a registered charity we are an ideal vehicle for all methods of giving, offering significant tax benefits including relief from income tax, capital gains tax, inheritance tax and corporation tax.
- We can accept gifts in cash, shares, land, property or other assets.
- We are here for the long term – if a client leaves a legacy in a Will today, it is possible that the charity or cause they wished to support is no longer in existence by the time their Will comes into effect. With a named fund, our trustees are responsible for the distribution of gifts from the fund.. We ensure that the original intentions of your client are carried out without having to approach the Charity Commission for a variance of the deeds of a trust or intentions in a will.
- We are transparent – we ask for a small contribution towards our core administration costs for setting up and managing a fund , agreed up-front with our donors. We operate with very low overall administrative overheads, which means that more money goes in grants to the local community.
- Our service is personalised and flexible, enabling us to provide a tailored solution that meets or exceeds your clients’ needs and expectations; which we hope would help to strengthen your relationship with them further.
