New software solution helps advisors plan clients’ charitable accounts
Tool aims to make it easier to keep track of commitments in real time.
Advisors managing clients’ philanthropic activities now have a new software solution to assist them, as a cloud-based suite of tools is launched.
PhilanthPro Solutions Inc., founded in 2023 and is based in Los Angeles and Toronto, has launched its eponymous solution to help clients and their financial advisors to manage charitable accounts whatever the size of their portfolio.
The solution has been developed with the $1.7 trillion cohort of foundations, charitable trusts, and donor-advised funds in mind, and converts user inputs into goals-based plans and interactive scenario reports. It also helps with the day-to-day management of philanthropic commitments including charitable relationship management system, a governance and records portal, learning materials, curated news about philanthropy, and multi-user access.
“The financial industry is designed to help people accumulate wealth, not give it away, and that’s a problem for philanthropic clients and their advisors. PhilanthPro brings the professional planning we’re capable of to the world of philanthropy,” said Nicholas Palahnuk, founder, and CEO.
Richard Taylor, the firm’s COO, says that the tool addresses a weakness in the industry.
“Our research showed that clients were disappointed with the ad hoc spreadsheets being used in the industry,” said Richard Taylor, Chief Operating Officer. “This tool allows clients to plan grants and see the effect in real-time, giving them confidence in making bold commitments.”
Learn more about reprints and licensing for this article.
