It is well known that investors who benefit from inheritance often want to give some of these resources to charity and philanthropic giving for many reasons.
But that also raises a lot of questions, such as how much focus do they want to give to this effort? Or, how important is it to them to create an effective legacy with their assets? Morgan Stanley is here to answer these questions with her philanthropy management team! The team has six staff members in New York, along with staffers in San Francisco. As Melanie Schnoll Begun (the group’s leader) said: “Some firms have a few people – we seem them as snorkelers, while we are scuba divers.” It was some weeks ago that Stanley's team worked with the Social Impact Exchange to host a conference in New York. It drew about 450 guests, such as existing clients and prospects, and highlighted the issue of “scale” as a means for donors and foundations to tackle social problems. “The objective of such events is to bring funders, foundation leaders and nonprofit leaders together and discuss their common goals, collaboration and how they can best achieve a collective impact. We are delighted by the interest and had a huge waiting list for this year’s event. Next year, we hope to accommodate more guests”, Begun said. As Morgan Stanley plans to host two smaller events with SIE in Los Angeles and San Francisco over the next few months, she stated: “We expect some advisors will join us, along with clients, clients’ family members and others. We want to create a venue for advisors to get to know potential clients too – these are such great networking, academic and social opportunities.We have the ability to accept any kind of asset – liquid or not, such as real estate, antiquities, precious gems, art collections, car collections and more … We can help clients sell these assets and then use the proceeds for grants.”