Are Philanthropy Advisors as Important as Financial Advisors? A Case for the Difficulty of Giving Wisely
I remember the disbelief and near nausea of opening up my 401K quarterly reports between October 2008 and March 2009. Any of you who experienced the same shock know how suddenly you realized the need for a better investment strategy and a better financial advisor. After seeing thousands and tens of thousands of dollars disappear, you probably wanted to go back in time and pay any price to hire a savvy investment manager. At that point in time, no one needed to be convinced that trusting the system was dangerous and relying on your own allocation choices was inadequate.
I often wish we could receive the same quarterly reports on the effectiveness or ineffectiveness of our charitable giving. Can you imagine how much more seriously we would supervise our philanthropy?