Sekou Kaalund

Join FINRA on our newest initiative: Get Your Head in the Trade—a campaign to help novice, self-directed investors conquer investing FOMO and be sure an investment is right for them. Go to FINRA.org/tradesmart to explore and share resources and tools to ignite investor understanding and confidence. Learn more here: https://bit.ly/4cUPKBI

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By harnessing the power of capital, we can create an equitable financial system and build long-term success for our company and communities. Read more about how M&T Bank is helping our communities prosper on page 8 in our Sustainability Report: http://ms.spr.ly/6044lK2s6 #sustainability #sustainabilityreport

In this issue of Elevating Women Magazine, we talk about "The Power of the Pivot" - how to think big, bet on yourself and help others do the same. You've got this!

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Incredibly thoughtful @danielyerger3 article about the evolving financial planning profession, & the REAL challenges as it relates to our education, experience, & compensation practices for new planners... "Doing the Work - Thoughts on the Path of the Profession" https://buff.ly/4bHa890

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THE "TROUBLE(S)" WITH DAFS Earlier this week Axios put out an interesting newsletter - see attached - with two stories touching on controversial aspects of Donor Advised Funds ("DAFs"). First, a brief overview of how DAFs work: 1. You set up a DAF account with a custodian (like Fidelity, which is where my family has our DAF). One major advantage of a DAF (versus a family foundation): it's VERY easy, cheap, and fast to set up. 2. You contribute cash or other assets to the DAF, for which you receive an immediate charitable deduction. 3. The money you contribute to the DAF doesn't need to be paid out to charity right away; instead, it can be invested as the donor wishes (within the custodian's investment offerings). 4. The donor can request the custodian to distribute funds from the DAF to charities he or she selects (in amounts he or she selects). The custodian takes requests under advisement - see below! - and then makes those distributions (also called grants). Another major advantage of a DAF: if your DAF makes grants to a number of charities, you don't need copies of all of their receipts, etc. since, as stated in (2) above, your charitable deduction is received when the money moves INTO the DAF, not when it moves OUT. Now to the controversies referenced in the attached: First: Goldman Sachs runs a DAF for its employees (known as Goldman Sachs Gives). Employees contribute to the DAF, those contributions are invested by Goldman Sachs, and then the contributing employee at some point requests that money from the DAF be given to charities of their choosing. (Sidebar: I have never heard of a custodian saying no to a donor request, so long as the charity is a legitimate one. That being said, the newsletter mentions Fidelity taking a charity off its "approved" list, and then putting it back on.) The controversy is that a group known as NIWR has objected to the fact that assets from Goldman's DAF were distributed to "organizations... opposed to the pro-diversity agenda that Goldman stands behind." It's an interesting argument. On the one hand, Goldman is just carrying out the will of each employee who contributes to the DAF. On the other hand, Goldman is obviously trying to burnish its public image by making it appear that grants from the DAF are coming from Goldman as opposed to its employees. Second: On the tax policy side of things, there is growing concern by some folks about donors being able to receive an immediate charitable deduction for assets held in an account but not yet distributed to charity. The counterpoints are that (a) most (all?) custodians require grants to be made within a certain number of time after contribution, and (b) DAFs overall actually pay out a large % of contributions each year. (For instance, according to a report by the National Philanthropic Trust, the DAF "grant payout rate" in 2022 was 22.5%. Grant payout rate here means grant payments made in 2022 as a percentage of DAF value as of the end of 2021.)

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When it comes to offering investment options clients can feel confident in, Fidelity has you covered—with solutions like Fidelity Model Portfolios that benefit from our long history of managing risk-based portfolios. Our model portfolios are a great example of how we use our deep research and investment resources to help your clients meet their goals. Check out how they can aid in portfolio management while giving you more time to deepen client relationships. https://bit.ly/3wrK2rM #advisors #modelportfolios

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Here is First Commonwealth Advisors 2nd Quarter Outlook. It’s a good read with interesting points around the Magnificent 7, the upcoming election, consumer debt and more. Our CIO highlights the importance of staying invested according to your long-term return expectations, all the while managing your portfolio around the edges to reduce risk. Positivity is a powerful thing. https://bit.ly/4bORwU9

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For generative families, it’s important to build resilience (and anti-fragility) by expecting, preparing for and welcoming change, especially during volatile times. Here’s what you might consider. https://bit.ly/47AEVU7

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Checkout this story below about my Son Anthony

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At Hartford Funds, we embrace a human-centric approach to investing. This philosophy recognizes the importance of authentic connections and a meaningful perspective, as exemplified by my colleague Matisse Barrett. #BeHumanCentric https://lnkd.in/gT5vRate

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In Infrastructure Investor's 2024 Sustainable Investing Roundtable article, Melisa Simic, Senior Director of Sustainability at #NuveenInfrastructure, discusses how ESG frameworks differ internationally as well as our approach to working with local communities when developing solar projects to preserve the integrity of their land for future generations. Read the full roundtable to learn more. https://bit.ly/46GeBro

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It‘s exciting to see Broadridge's President, Chris Perry, leading an engaging discussion at the Tiburon CEO Summit, exploring the future of WealthTech M&A, alongside industry leaders. They shared insights into:  · Emerging trends influencing FinTech M&A  · The role of AI in wealth tech  · Consolidation opportunities · Actionable strategies to raise capital, or prepare for acquisition Thank you to Tiburon for hosting this discussion!  #WealthTech #MergersAndAcquisitions #CEOInsights #WealthManagement 

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For generative families, it’s important to build resilience (and anti-fragility) by expecting, preparing for and welcoming change, especially during volatile times. Here’s what you might consider. https://bit.ly/3YtzGD7

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By harnessing the power of capital, we can create an equitable financial system and build long-term success for our company and communities. Read more about how M&T Bank is helping our communities prosper on page 8 in our Sustainability Report: http://ms.spr.ly/6048l1bN6 #sustainability #sustainabilityreport

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