TORONTO, Sept. 14, 2021 (GLOBE NEWSWIRE) -- 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
