The work of a nonprofit never stops. Serving people. Meeting community needs. And helping move the River Region forward.
While individual missions may vary, the River Region has many wonderful nonprofits that serve an important role in the success of our community — and our people. The power of a nonprofit comes from prospective and current donors who financially support the mission.
Thanks to these generous supporters, many nonprofits have grown a pool of funds to invest for the long-term support of the nonprofit’s mission. And that’s where a crucial decision comes in. Selecting the right financial advisor. At Regions, our solutions based approach from a team of advisors can guide nonprofits through the dynamics of stewarding important resources. Through experience and insights, we deliver customized guidance on investment policies and portfolio construction, as well as offer best practices to improve administrative functions.
Here are some considerations to find the right support from a financial advisor.
ASK DETAILED QUESTIONS:
- Does the financial advisor have a depth of experience working with nonprofit organizations—or, better yet, specialize in nonprofits?
- Is the financial advisor conversant in IRS rules governing nonprofits?
- Is the financial advisor experienced in industry best practices?
- Does the financial advisor have adequate staff resources to serve clients?
- Is the financial advisor a fiduciary?
Such an advisor can (and should) help you develop key policy statements that govern investments, spending, gift acceptance and conflicts of interest. These guidelines need to be developed as part of a comprehensive assessment of the organization’s objectives and resources. Policy statements and assessments can guide the nonprofit in both the present and the future as board seats change.
Another consideration in choosing an advisor is whether the institution will be a resource to help communicate with current and prospective donors. For instance, some financial institutions may conduct seminars or small meetings with donors to explore topics such as planned giving or complex gifts. Quarterly presentations are standard for touching base and ensuring an investment strategy is on track. Make sure the prospective financial advisor is doing more than delivering a quarterly performance statement. An advisor should be a resource to help the nonprofit meet its mission.
There is a wide range of choices when it comes to selecting a financial advisor, including large national firms, boutique banks, local brokers and regional financial institutions. To learn more about Regions’ work with nonprofits, visit regions.com/wealth-management.
Trust and investment management services are offered through Regions Wealth Management, a business unit of Regions Bank. Investment advisory services are offered through Regions Investment Management, Inc. “RIM”. In some cases, RIM’s investment management services and/or strategies will be utilized by Regions Wealth Management for its trust and investment management clients. RIM is a Registered Investment Adviser and wholly owned subsidiary of Regions Bank, which in turn, is a wholly owned subsidiary of Regions Financial Corporation.
