Tax reform changed the way advisers promote charitable giving, Fidelity survey says

The 2017 Tax Cuts and Jobs Act that overhauled the American tax code has changed how advisers are promoting charitable strategies to clients, a study by Fidelity Charitable has found. "Advisers seem to have recognized that charitable giving has become a more prominent part of providing holistic financial and wealth management services and are having more philanthropic conversations with their clients," Fidelity said in a release. Since 2015, the number of clients with whom advisers discuss giving has risen to 58% from 46%, the company said. More: Fidelity creates workplace charitable-giving program In addition, nearly half of advisers report that many or most of their clients adjusted their charitable giving strategy in response to tax reform. Specifically, 47% of advisers said that many or most clients increased giving overall due to the loss of other deductions. More: As donor-advised funds grow in popularity, they may draw more scrutiny In addition, 46% of advisers said their clients established a donor-advised fund, and 46% said appreciated securities were donated to maximize deductions. Fidelity Charitable is an independent public charity and one of the nation's largest grantmakers.