industry expert : business
An Important Choice for Nonprofits : Selecting a Financial Advisor
Larry Ransburgh
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 solutionsbased 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 .
Contact :
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
Larry Ransburgh / 205.264.5877 / Larry . Ransburgh @ Regions . com
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 .
T H E
E X P E R T
Larry Ransburgh is Senior Vice President , Institutional Services Strategist at Regions Bank .
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 .
86 CentrAL Inc !