GMP Private Client L.P. has established a partnership with Benefaction, a charitable public foundation, which will enable its clients and investment advisors to customize their financial contributions to charitable organizations while minimizing their tax burden, the full service investment firm said Monday.

“High-net-worth Canadians are becoming more philanthropic,” says James Werry, CEO, GMP Private Client. “While they’re giving more every year, they want to maximize the impact of their donations. Through our partnership with Benefaction, we’re offering our clients innovative, cost-effective solutions to charitable giving, enabling them to integrate philanthropy into their overall wealth management strategies.”

GMP Private Client’s Charitable Giving Program provides clients with two options for their philanthropic donations: direct giving and donor advised funds.

Benefaction handles the administration of funds, fulfills the donor’s granting wishes and manages a process of due diligence for four Charity Portfolios.

“Our foundation is honoured to partner with GMP Private Client,” says Benefaction CEO, Nicola Elkins. “Affluent Canadians want to make a difference and create a meaningful legacy for future generations. However, they’re becoming far more discerning in assessing philanthropic value for their hard-earned money. That’s where Benefaction plays a key role – we work with Canadians and their advisors to provide powerful, cost-effective strategies for maximizing their charitable giving.”

Toronto-based GMP Private Client L.P. is a subsidiary of GMP Capital Trust.

IE