Gluskin Sheff launches new donor advised fund for Canadians
September 14 2021 - 9:00AM
Gluskin Sheff + Associates Inc. (“Gluskin Sheff”), the wealth
management platform of Onex Corporation (“Onex”) (TSX: ONEX), today
announced the launch of the Gluskin Sheff Foundation for
Philanthropy (“GSFFP”). The GSFFP is a registered charity under the
Income Tax Act (Canada) and is an independent non-profit that
provides donor advised funds and other philanthropic services.
Through the GSFFP, the newly launched donor advised fund offers
Canadian investors the opportunity to consolidate their charitable
giving in one place. The GSFFP provides a charitable tax receipt
for the value of the gift and enables donors to increase and
sustain their giving to registered charities across Canada.
As part of the launch, Gluskin Sheff will be making a C$500,000
contribution to the GSFFP.
“At Gluskin Sheff, we have a long-standing history of being
philanthropic and supporting our clients in every aspect of their
lives. It is important to us to understand our clients’ financial
goals, simplify their wealth management journey and ensure their
legacy is preserved for generations to come,” said Jeff Moody,
President and CEO of Gluskin Sheff. “Our aim with the Gluskin Sheff
Foundation for Philanthropy donor advised fund is to offer a
flexible, cost-effective and seamless way to build our clients’
charitable vision, and to provide them with peace of mind, knowing
their assets will receive a high level of financial
stewardship.”
With a minimum contribution of C$100,000, Gluskin Sheff clients
and prospects work with their Gluskin Sheff representative to
establish and personalize their donor advised fund. The donor then
recommends the charities that will benefit from their gift. Donors
can decide whether they wish to be recognized for their donation or
remain anonymous. Furthermore, donors will have access to Gluskin
Sheff’s 35-year track record in investment management to help
maximize their charitable giving.
“For many individuals, families and organizations, donor advised
funds offer an attractive alternative to the administrative burden,
cost and time involved in establishing and managing a private
family foundation,” said Tiffany Harding, Vice-President and Head
of Wealth Planning for Gluskin Sheff. “We want to empower our
clients and enable an opportunity for strategic philanthropy driven
by family values, as well as teach financial stewardship across
generations. Our teams are here to support, every step of the way,
and we’re thrilled to be able to add this offering to our
full-service wealth management model.”
This offering will allow Gluskin Sheff, through their
partnership with the GSFFP, to attract and retain clients, and
build relationships with multiple generations by engaging families
in philanthropic planning. The GSFFP has hired Gluskin Sheff to
manage their assets. As such, Gluskin Sheff will receive investment
management fees for funds invested through the GSFFP’s donor
advised fund.
To learn more about the Gluskin Sheff Foundation for
Philanthropy donor advised fund, please visit:
https://foundation.gluskinsheff.com.
About Gluskin Sheff:
Since 1984, Gluskin Sheff has served the wealth management needs
of high-net-worth individuals, families and institutions across
Canada and the U.S. through unparalleled client service coupled
with proprietary investment solutions, including public equities,
fixed income & credit alternatives and private credit. Based in
Toronto, Gluskin Sheff manages approximately $8 billion in assets
(as of June 30, 2021) and was acquired by Onex in 2019. For more
information on Gluskin Sheff, please visit:
www.gluskinsheff.com.
For Further Information:
Leah Commisso, Director, Corporate Communications
Tel: 437-533-4457
Email: lcommisso@gluskinsheff.com
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