Philanthropy often remains an overlooked aspect of wealth planning, which traditionally focuses on wealth accumulation rather than distribution. But high-net-worth individuals and families increasingly understand that their financial legacy extends beyond the accumulation of assets. This growing interest in philanthropy calls for a more integrated approach to planning, where giving is strategically aligned with overall financial goals. Platforms like PhilanthPro are bridging the gap by offering professional planning tools designed specifically for philanthropic giving.
In this episode, Shannon Rosic, WealthStack's director of content and solutions, talks with Nicholas Palahnuk, founder and CEO of PhilanthPro, about the importance of philanthropy in wealth planning.
Shannon and Nicholas also discuss:
- The main drivers of philanthropic contributions and why tax benefits are not the main motivator
- How PhilanthPro helps manage the complexities of tax, legal and regulatory obligations in charitable giving
- Both the Great Wealth Transfer and changing demographics are transforming philanthropy
- How does this technology differ from currently available grant management software?
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About our guest:
Nicholas Palahnuk is the founder and CEO of PhilanthPro. Recognizing a gap in the financial industry, he launched a series of tools to fuel philanthropy for a brighter future.
Palahnuk also runs a wealth management group that empowers people to live and give comfortably through sound financial planning. The Globe & Mail on Business report named him one of Canada's leading wealth advisors. In 2020, he was named a top under 40 by the Investment Industry Association of Canada.
Palahnuk is a member of the Forward Global philanthropy community and studies global development at Harvard University. He also established a private foundation in 2021 to fund innovative programs that build greater mental health resilience among young people.
Passionate about financial planning from a young age, Palahnuk became the youngest Certified Financial Planner in Canada at the age of 21. He lives in Toronto and splits his time between Canada and the US