Giving Success story: A legacy founded on giving
CEO, Legacy Wealth Advisors
Financial Advisor, RJFS
Fernando Ereneta’s clients often rely on their donor advised funds (DAFs) to discuss their charitable aspirations with loved ones and establish meaningful family legacies.
More than 1,500 advisors have partnered with Raymond James Charitable to help their clients enjoy the benefits of donor advised funds. Fernando believes a DAF can be an essential component of a long-term financial plan and an enduring family legacy.
After working as a certified public accountant for a few years, Fernando joined the financial planning industry in 1997 – a career change inspired by his desire to assist families with their financial goals. Fernando began growing his network by taking on as clients many of the individuals he’d grown up with. Since then, he’s amassed an extensive clientele consisting largely of physicians. Fernando, who joined the Raymond James family in 2009, still manages his practice from his hometown of Chicago.
Fernando started incorporating charitable giving into his conversations with clients shortly after joining Raymond James. By then, he was well-acquainted with DAFs – he has used one for the past 15 years – and could confidently recommend them to clients.
Many of Fernando’s clients view opening a DAF as a meaningful step in establishing a family legacy.
“A DAF can foster communication between generations,” he said. “It can be a way for Mom, Dad and their adult children to ask, ‘What’s important to us?’ and ‘Where do we want to give?’ This makes it a great tool for families to annually communicate about their charitable giving.”
To facilitate this, he hosts legacy family summits, which are hour-long meetings that usually take place during the holidays. Instead of focusing on topics such as the market and cash flow, these get-togethers are meant to explore each family’s values through discussions on estate planning and philanthropic goals.
Fernando believes DAFs can improve a client’s cash flow and help establish their legacy. That’s nothing short of a win-win.