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Advisers call for help over clients&#39 charity donations

IFAs do not have enough information to advise their clients on how to make tax-efficient donations to charity, according to charity the Giving Campaign.

A study of 280 IFAs, stockbrokers, accountants, investment managers and solicitors revealed that many IFAs do not tell their clients about tax-efficient methods of giving to charity.

Fifty-seven per cent of IFAs and nearly half of the stockbrokers surveyed said they “hardly ever” give such advice. More than 80 per cent of stockbrokers said it was the client who raised the issue of giving money to charity.

IFAs say they are reluctant to embarrass clients and believe their main concern is to maximise clients&#39 income.

The survey found that the most important constraint on giving advice in this area is a lack of information and training. Three-quarters of IFAs and nearly two-thirds of stockbrokers identified this as a problem.

Three-quarters of IFAs and stockbrokers said the opportunity to do a good job for their clients provided an incentive to offer advice on taxefficient donations to charity. IFAs think a form of user-friendly information to pass on to clients would help.

The survey was conducted by Mori for the Giving Campaign, Aifa and Apcims.

Aifa director general Paul Smee says: “This survey confirms that IFAs are motivated by the ability to be able to deliver a high level of client service. IFAs recognise that being able to provide advice on tax-efficient ways of giving to charity should be an important part of their service and a way of fostering long-term relationships with their clients.”


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