Donors using Schwab Charitable, a large provider of donor-advised funds and other philanthropic services, gave 855,000 grants totaling $3.7 billion to more than 113,000 charities in the 2021 fiscal year ended June 30. That represented a 13% increase in dollars and a 24% increase in the number of grants given to charities compared to the previous all-time highs set in fiscal 2020, Schwab Charitable said in a release.
In fiscal 2021, Schwab Charitable donors recommended grants to 12% more charities than the previous fiscal year and to nearly 30% more organizations than in fiscal 2020. There also was a 48% year-over-year increase in the number of grants recommended by Schwab Charitable donors that were not designated for a specific purpose, which gave nonprofits greater flexibility during a difficult time.
Schwab said that since fiscal 2019, the number of recurring grants and grants made on mobile devices have more than doubled, and in fiscal year 2021, 79% of grant volume was handled through an automated review and approval process.
Last Wednesday, Fidelity Charitable reported that its donors recommended a record $4.3 billion in grants in the first half of 2021, up 27% in dollar terms compared to the same period in 2020.
A new proposal could end the ban on promoting client reviews in states like California and Connecticut, giving state-registered advisors a level playing field with their SEC-registered peers.
Morningstar research data show improved retirement trajectories for self-directors and allocators placed in managed accounts.
Some in the industry say that more UBS financial advisors this year will be heading for the exits.
The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.
Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
