Joint Field Work Brings Expertise and Tax Advantages to Clients | InFaith Community Foundation

Joint Field Work Brings Expertise and Tax Advantages to Clients

“Do you have a charitable heart?” It’s a question you might pose to your clients.

“You never know where that questions will lead, but I always ask,” admits veteran financial professional Steve Becker.Toni Homann and Steve Becker

And it’s one reason why Toni Homann consulted Steve last summer to help a retired couple achieve their charitable goals. Toni and Steve had done joint field work together in her four years at Thrivent, and she knew he would be a good resource.

Toni invited her prospects to a Thrivent Member Network (TMN) education event on savvy tax strategies and when she followed up, they wanted to meet. She discovered they owned highly appreciated stock and were interested in finding a tax-advantaged way to establish college scholarships. 

Power of the Third-Party Dynamic
“I offered to introduce them to Steve via Zoom, and he suggested we include InFaith,” Toni recalls.

After discussing a few alternatives, the couple really liked the concept of a charitable gift annuity. An InFaith gift planner created a customized illustration, and the couple consulted their attorney at Toni and Steve’s recommendation.

By giving the appreciated stock to InFaith for the gift annuity, they bypassed capital gains and received an income tax deduction in the year they made the gift. They will receive an income stream during their lifetimes, and at the second spouse’s passing, the remainder will fund scholarships at three universities.

“It’s tough to be an expert in all areas, but when we help each other, it always leads to success,” Steve says. “We call it the power of the third-party dynamic. Bringing in the experts at InFaith gives clients even more confidence.”

Toni agrees. “I can bring more options to my clients in these situations and let them know I have experts who help me provide the best opportunities for them. It solidifies my credibility.”

Both FPs note how emotional the clients became anticipating the impact of their gift on many future college students.

Toni looks forward to even more charitable collaboration. She says, “Now that I have a personal connection with InFaith, I will find more ways to work with them. My clients deserve their expertise.”

Get Started in the New Year
You can integrate charitable planning into your business in 2021. Visit our website to learn more or consult directly with our team of gift planners at giftplanner@infaithfound.org or call 800-365-4172.

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