Fidelity study looks at advice and charitable giving

Globe Staff

Some financial advisors think their clients are likely to increase their charitable giving in order to offset expected tax hikes, according to a new report from the Fidelity Charitable Gift Fund.

The fund's study gathered input from more than 500 financial advisors on their approaches to giving advice about charitable planning, a Fidelity press release said. According to the study, 52 percent of respondents proactively offer charitable planning advice, but 63 percent said they believe their clients would be interested in such advice. One reason cited for shying away from giving such advice is that many financial advisors regard philanthropy as a client's personal decision, the release said.

In a statement, fund president Sarah C. Libbey said: "Today, more than ever, high-net-worth investors are looking to their advisors for comprehensive financial planning advice and tax strategies. By integrating charitable planning within a wealth management offering, advisors have the potential to deepen existing client relationships, and open up multi-generational planning opportunities."

The fund was established in 1991 by Fidelity Investments, the Boston mutual funds giant. The fund describes its mission as seeking to "further the American tradition of philanthropy by providing programs that make charitable giving simple and effective."