Forbes James, Director of The Wealth Mentoring Group, has been recommending ACF to his clients since 2012. He’s also a member of the ACF community himself, having set up his own sub-fund.
A Professional Adviser’s Perspective: Forbes James
“I’d always had a personal interest in philanthropy,” Forbes explains. “The topic had come up with a number of clients, especially if they were selling businesses or assets or making large capital gains, and I’d been able to put the question of giving on the agenda to see if it was important to them.”
“Initially, I thought there were only two alternatives: either give to registered charities on an ad hoc basis or set up a philanthropic vehicle on your own. When I found out there was a midpoint available at ACF, where people could direct their philanthropy without having to manage the administrative burden, I thought I’d try a sub-fund myself. I found that it worked well.”
ACF is a great model for people who want to go beyond just writing cheques but don’t want to have all the pain of running their own fund.
Forbes says that being able to share his own first-hand experience has been a valuable tool when helping his clients evaluate their giving options. “It’s been a big advantage in being able to credentialise it,” he says. “I can show clients our account statements and take them through the process.”
“What tends to resonate with people is the fact that they can tailor their fund to their own interests. We had one client who’d made their gains from agriculture and farming and they were able to work with ACF to target a scholarship for younger people going into agricultural careers.”
“ACF is a great model for people who want to go beyond just writing cheques but don’t want to have all the pain of running their own fund. I see it as a very flexible solution for anyone in that situation.”