Why donor-advised funds are surging in popularity Brenda Bouw Published April 29, 2021
fzant/iStockPhoto / Getty Images
More charitably-minded Canadians are turning to donor-advised funds as a simplified, tax-efficient way to give, supported by financial advisors looking to help clients distribute their wealth to good causes.
Donor-advised funds have been around for decades in Canada, but data show the charitable-giving vehicles have gained significant traction in recent years.
A recent report from Toronto-based research firm Investor Economics says the value of donor-advised funds in Canada grew at a compound annual rate of 14.3 per cent between 2016 and 2018, to $5.7-billion from $4.4-billion. There was a 35-per-cent increase in the number of donor-advised funds set up at various foundations over the two-year period, the report shows, and a steady rise in donations to new and existing funds.
This article appears in the March 2021 issue of Advisor’s Edge
Early in the pandemic, an aphorism from the last financial crisis gained new life and was soon being applied to problems from business supply chains to reshaping major economies.
“Never allow a good crisis to go to waste,” said Barack Obama’s then chief of staff, Rahm Emanuel, in 2009. He repeated the line in March 2020, and others have followed.
Advisory firms, asset managers and regulators have all been examining their responses to pandemic lockdowns that upended traditional business practices. Many are finding silver linings in how they quickly executed changes that might otherwise have taken years.
The Globe and Mail Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
Getting audio file . This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer
Mark Blinch/Globe and Mail
Canadian stock exchanges experienced an unprecedented surge in trading volumes in the first two months of 2021, driven by a rush of retail investors piling into small-cap stocks, particularly in the technology and mining sectors.
Cumulative trading volume on the Toronto Stock Exchange, the Canadian Securities Exchange and TSX Venture Exchange surged 158 per cent to 32.9 billion trades in February from 12.7 billion trades in the same month a year earlier. There were roughly 25 billion trades on these three exchanges in January, more than double from 12 billion the year prior.
International Women s Day in Ontario newswire.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newswire.ca Daily Mail and Mail on Sunday newspapers.
Wealthsimple selling U.S. book of business to robo-adviser Betterment Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
Getting audio file . This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer
Eric Akaoka/The Globe and Mail
Power Financial Corp.’s online investment manager Wealthsimple is selling its U.S book of business to New York-based robo-adviser Betterment Holdings Inc.
Wealthsimple announced Thursday that it will transfer all its U.S.-based customers to Betterment by the end of June and will no longer support U.S.-based accounts.