Private stock contributions (Justyn Volesko)
We have clients who have some private investments that you can't typically just give to a charity.
And Schwab Charitable has been very helpful in terms of figuring out the best way to accept private stock into a donor advised fund. It's been an advantage and a value-add that we've been able to provide to some of our clients.
And it enables us to offer a strategy to a client, who may not have even thought that it could be an option. A client who potentially has 90% of their balance sheet in their private company stock and may not be able to monetize that otherwise.
Being able to use Schwab Charitable to make charitable contributions using some of these assets certainly opens up the ability for these clients to make donations that maybe they couldn't previously make. And it certainly increases how much clients are interested in giving. So there's much more to charitable planning and giving than a lot of folks don't necessarily realize is out there.
Schwab Charitable allows us to offer more alternatives and options to our clients and therefore provide greater value to them.
It certainly helps the relationship with the client, because number one you're adding value in an area that they didn't necessarily know that there was value to be added. And it becomes more of a personal discussion with the client. And, in my experience, it's deepened the relationships and gotten me closer with the client on a personal level.