Financial advisors share their favorite charities

Why advisors call these charities their favorites

November 12, 2018 10:00 AM

Many financial advisors are used to working charitable giving into their clients’ financial plans.

But clients aren’t the only ones donating to charities — advisors also have causes near and dear to their hearts. Planners eager to lend a helping hand can contribute their own time and money to charitable organizations in an effort to further initiatives they believe in.

Scroll through the following list to learn where your peers and colleagues are donating this holiday season. Responses have been lightly edited for grammar and style.

Michael Paregian, Lau Associates, Greenville, Delaware

I support RodneyStreet. It is an organization that fosters a lifelong love of tennis and learning. I initially supported by volunteering my time to be an on-court coach. I was then asked to be a board member to help move the organization forward.

Being involved in the tennis community for years and living in the Wilmington, Delaware area, I have always heard about how RodneyStreet transforms the lives of children through education and tennis. My parents instilled in me the value of education and the life-long benefits it provides. With my passion for education and tennis, it is the perfect organization to be involved with and to support.

I aspire to bring my expertise to the finance and development committees. I have also been on the court several times with the kids for some coaching and fun tennis games. The organization is growing and we are helping more and more kids every year.

David Silversmith, Fulvio & Associates, New York

My favorite charity is an organization called Justice in Motion … I was on their Board of Directors for almost 10 years.

I first got involved with Justice in Motion after seeing an ad on the website of the New York State Society of CPAs. I did some research on the organization and was very intrigued by their mission. It appeared that they were the only organization I could find that was concentrating on fighting migrant worker exploitation.

I found their strategy of recruiting “defenders” from different Central and South American countries to be very effective and smart. I was also very impressed that the founder, Cathleen Caron, would go to so many dangerous places in Central and South America to teach potential migrant workers about their rights and to recruit more defenders.

Throughout my tenure, we were able to build the group up from an organization that barely had $150,000 of gross receipts to one that took in over $700,000 in 2017. Today, they are concentrating on using their global defender network to reunify immigrant children who are in the United States while their parents were deported. These are children that were taken from their parents due to the Trump Administration’s policy of separating families.

Mike Giefer, The Johnston Group, Minneapolis

My wife and I donate both time and money to Children's Minnesota, a local children's hospital in the Twin Cities. We have three young children of our own and feel a strong connection to helping this cause.

Children's Minnesota has created a children's council, which is a group of young professionals and next generation donors who share a similar passion for the hospital's mission. This is a great way to get involved at a younger age and start developing a long-term giving strategy towards a meaningful purpose.

Sophia Bera, Gen Y Planning, Austin, Texas

One of my favorite charities is BestPrep, a financial literacy organization in Minnesota. I used to volunteer in their classrooms and as a judge for Minnesota Business Venture, a business camp for high schoolers.

They have the most amazing staff and they've worked really closely with FPA of Minnesota to create amazing Money Matters presentations for students. I moved to Austin a few years ago but I still donate to them every year. Since I've started my business, I've donated $50 for every new ongoing client I take on each year.

It makes me feel that as my business grows, I'm helping students learn how to better manage their money in the future.

I really wish more people knew about this amazing organization. Too many people are trying to reinvent the wheel when we need more of these organizations to share resources, so we can get this information to more students and young adults — therefore empowering the next generation with their money.

Juan Ros, Vice President, Lamia Financial, Thousand Oaks, California

One of my favorite charities is a local startup charity, Fit 4 the Cause. It provides nutrition education and fitness programs to underserved populations, including seniors and adults with developmental disabilities.

This organization is special to me because of its focus on health, nutrition, and exercise. My grandfather Jose Ros, now 99, has always been the model of health in our family — something I remember since I was a child.

I was not very athletic myself until several years ago when I decided to focus more on my health, using my grandfather as an example. Fit 4 the Cause reminds me of my grandfather and his emphasis on fitness. I was introduced to this charity by its Board Chairman, an attorney I know through networking circles, and I was immediately drawn to its mission and to the passion of its founder, Cindy Rakowitz.

Fit 4 the Cause has only been operating for four years. I am proud to be involved in this early phase of its life, and was added to the Board of Directors earlier this year. I have asked other professionals I know to donate to this charity and recently raised almost $3,000 for a boxing event that I participated in.

Kaleb Paddock, Founder, Tens Talent Financial Planning, Denver

My wife and I enjoy giving to the charity Samaritan's Purse. Around November of each year, we pack shoe boxes with goods for children in developing countries. The program is called Operation Christmas Child.

This charity is special to us because it helps us focus on those less fortunate than ourselves and remind us that we are blessed. The impact of the shoe box is powerful and makes a meaningful difference in the lives of the children who receive it.

I have a couple clients who have mentioned being involved with Samaritan's Purse. They also provide disaster relief and I've recommended them to clients when they've asked about charities involved in disaster relief.

Kristin Sullivan, Sullivan Financial Planning, Denver

I love the Alliance Foundation. They raise money to help women help themselves. The foundation funds micro credit banks for women in developing countries, scholarships for non-traditional women students in their junior and senior years of college and volunteer opportunities at Denver homeless shelters.

I invite clients and referral partners to our annual fundraising luncheon and have received great support over the years. I have also attended fundraisers that clients have invited me to attend and given money to their favorite causes. Charity is a great way to bond with your professional network.