The service will highlight the benefits of philanthropic giving and the firm said believes many of its 300,000 clients want to make charitable gifts each year, but for various reasons don’t.
It will allow clients to choose their beneficiaries and make donations in a simple and discreet manner supported by the advice of their St James’s Place partner.
“As part of our holistic approach to financial planning, we want to help clients so they can give easily when they want and to whom they want, whilst ensuring they receive the best philanthropic advice,” said Alexandra Loydon, head of private client services at St James’s Place.
“Families often use philanthropy as a platform to promote shared values across generations; so, if it’s important to clients, it’s important to those who advise them.”
Last year the partnership and St. James’s Place contributed £4m to the St. James’s Place Foundation.
Loydon added: “Clients also want to see their philanthropic capital working as hard as their investment capital, and working with the CAF we can help them achieve this.”
Meanwhile Mike Packham, head of private clients at the Charities Aid Foundation, said the charity’s aim was to develop long-term relationships with clients and help guide individuals and families through their “philanthropic journey”.
He said: “The combination of professional holistic financial planning by St. James’s Place, and CAF’s expertise and range of solutions in making charitable giving easy at minimum cost, makes this an ideal partnership that can only benefit St. James’s Place clients.”
St James Place & Equity Release
What Is Equity Release?
Equity release is the use of financial arrangements that provide the owner of a house, or other property, with funds derived from the value of the property while enabling them to continue using it.
How Does Equity Release Work?
Equity release is aimed at homeowners aged 55 and over. It allows you to take some of the value of your home as cash.
Equity Release as a Charitable Trust
A charitable trust is defined as a public trust for purposes that provide a benefit to the public or a section of the public and is a trust subject to supervision by the Charity Commission. A trust is only considered charitable if it is established for a purpose that the law regards as charitable. Thus, if the founder of a private trust wishes to earn money through a trust as its trustee, he or she must lay down express provisions for the same in the trust’s instrument.