Why Delegating to an OCIO Can Strengthen Your Pension Governance
In the video, CAPTRUST breaks down how a 3(38) Investment Manager—often branded as an outsourced chief investment officer (OCIO)—assumes day-to-day discretion over plan assets so sponsors can focus on broader governance. An OCIO typically drafts or refreshes the investment policy statement, monitors and trades the portfolio, vets underlying managers, and shifts asset allocations in real time when markets move. For many organizations with lean staff or complex liabilities, that level of hands-on management translates into quicker execution, tighter risk controls, and clearer performance benchmarking.
Potential Advantages
Broader access to diversifying asset classes and specialist managers
Institutional-grade risk-management tools that help buffer volatility
Robust, transparent reporting that keeps committees audit-ready
Faster tactical moves—without the scheduling delays of quarterly meetings
Key Considerations Before You Hire
OCIO oversight isn’t one-size-fits-all. Plans with well-resourced investment committees may prefer to retain direct control, and sponsors who thrive on tactical decision-making could view full discretion as a drawback. Before signing an OCIO mandate, CAPTRUST recommends comparing fee structures, service models, experience with defined-benefit liabilities, and cultural fit with your existing governance process.
Next Steps
A thoughtful RFP and due-diligence process will clarify whether an OCIO aligns with your funding goals, risk appetite, and internal bandwidth. CAPTRUST’s institutional advisory team can guide you through provider comparisons, mandate design, and ongoing oversight—so your pension strategy stays on track today and over the long term.
If you sponsor a defined benefit retirement plan, you may already be familiar with the term 3(38) investment manager, or the acronym OCIO, which stands for outsourced chief investment officer.
But you might not know that these two terms describe the same type of discretionary relationship. An OCIO is a professional advisor, or an advisory firm, hired by a retirement plan sponsor to manage its investment portfolios and make strategic investment decisions on the organization’s behalf. This can be especially helpful to organizations with limited staff and adequate investment experience or highly specialized investment needs. But it’s important to know the benefits and considerations before deciding if an OCIO is the right choice for your pension plan. Typically, OCIOs provide day-to-day management of an organization’s investment program. They have investment discretion and are directly accountable for plan performance. That’s why you might also hear the OCIO relationship described as discretionary portfolio management, or simply discretion.
OCIO services can include:
Investment policy statement development
Portfolio analysis, management, and trading
Research and selection of investment managers
Tactical or strategic asset allocation
For many organizations, delegating these critical tasks to a trusted partner is a welcomed sigh of relief.
OCIOs offer many potential benefits:
Increased access to investment opportunities, which can improve diversification
Increased access to advanced risk management practices, which can help the organization navigate market volatility
Improved benchmarking of your plan performance, plus improved reporting and transparency.
Real-time review and execution of tactical changes
Despite these many benefits, engaging a discretionary manager might not be the right move for every organization. For instance, pension plan sponsors with strong internal investment committees might not require these services, and those that prefer to have direct control over their investment decisions could find an OCIO less appealing.
If you do decide to engage a professional, due diligence is key. Research multiple firms. Explore their fees, reporting schedules, track records, experience managing pension assets, and stability. Institutions with highly specialized investment requirements will require an OCIO with robust industry expertise to meet their specific needs. You may also want to gauge how well the OCIO will integrate with your organization’s existing governance, structure and communication channels.
Ultimately, the decision to hire an OCIO should be based on careful evaluation of your organization’s needs, objectives and resources. Making a well-informed decision can lead to more efficient and effective portfolio management that is better aligned with your institution’s short and long-term objectives.
For help navigating the OCIO landscape, call CAPTRUST. Our nationwide team of institutional advisors can help you decide the next steps forward.
Please note: This is an AI generated transcription – there may be slight grammatical errors, spelling errors and/or misinterpretation of words.
Developing an Investment Policy
Statement As a member of your organization’s Retirement Plan Investment Committee, your job is to make sure the assets of your retirement plan participants are invested wisely. But how do you go about this important task? One key step is to create an Investment Policy Statement, or IPS.
An IPS is a formal document that explains the guidelines and procedures for how to manage an organization’s investment portfolio. Typically, an IPS will define the organization’s investment goals, Risk tolerance, asset allocation, and other investment related policies. It gives clear directions to finance staff and committee members.
Having a written IPS provides several benefits. One of the biggest benefits is that it helps ensure consistency and accountability in the process. And how the portfolio is managed over time, regardless of who is managing it. An IPS may also promote better long-term investment performance by establishing a disciplined process up front.
It can help prevent emotion based or reactionary investment decisions that might undermine the portfolio success. The policies contained in an IPS. Help the organization stay on track, even when markets are volatile. So, what exactly goes into an IPS? First, you’ll want to outline the organization’s investment objectives.
Is the overall goal to preserve capital, generate income, or grow the portfolio’s value over time? What are the long term and short-term goals you want to achieve? Next, make sure to specify your time horizon and risk tolerance. Then give details about asset allocation. What percentage of the portfolio should be invested in stocks?
bonds, alternative investments, and other asset classes. Your IPS should also include policies regarding diversification, liquidity needs, rebalancing, and selecting and monitoring investment managers. It’s a good idea to document any investment restrictions, including companies or sectors of the economy, that are off limits from an investment point of view, or that conflict with the mission or values of the organization.
Lastly, be sure to explain the investment decision making process. reporting requirements, and oversight procedures. Some organizations also choose to include their conflict-of-interest policy in their IPS. Keep in mind that creating an IPS is not something to be done hastily. It’s a thoughtful and sometimes lengthy exercise that should involve lots of key stakeholders, including investment committee members, Senior leadership and staff, plus your professional advisors.
Once you have created a draft of your IPS, it will need to be approved by your board of directors or other governing body. It should then be reviewed and updated on a regular basis, typically once a year. By documenting investment objectives, policies, and procedures, an IPS promotes continuity, accountability, and better investment outcome.
As a member of your organization’s Retirement Plan Investment Committee, your job is to make sure the assets of your retirement plan participants are invested wisely. But how do you go about this important task? One key step is to create an Investment Policy Statement (IPS).
An IPS is a formal document that explains the guidelines and procedures for how to manage an organization’s investment portfolio. It gives clear directions to finance staff and committee members.
Typically, an IPS will define the following for an organization:
Investment goals
Risk tolerance
Asset allocation
Other investment related policies
Having a written IPS provides several benefits. One of the biggest benefits is that it helps ensure consistency and accountability in the process, and how the portfolio is managed over time, regardless of who is managing it. An IPS may also promote better long-term investment performance by establishing a disciplined process up front.
It can help prevent emotion based or reactionary investment decisions that might undermine the portfolio success. The policies contained in an IPS help the organization stay on track, even when markets are volatile.
So, what exactly goes into an IPS? First, you’ll want to outline the organization’s investment objectives. Is the overall goal to preserve capital, generate income, or grow the portfolio’s value over time? What are the long-term and short-term goals you want to achieve? Next, make sure to specify your time horizon and risk tolerance. Then, give details about asset allocation. What percentage of the portfolio should be invested in stocks, bonds, alternative investments, and other asset classes?
Your IPS should also include policies regarding diversification, liquidity needs, rebalancing, and selecting and monitoring investment managers. It’s a good idea to document any investment restrictions, including companies or sectors of the economy, that are off limits from an investment point of view, or that conflict with the mission or values of the organization.
Lastly, be sure to explain the investment decision making process. reporting requirements, and oversight procedures. Some organizations also choose to include their conflict-of-interest policy in their IPS. Keep in mind that creating an IPS is not something to be done hastily. It’s a thoughtful and sometimes lengthy exercise that should involve lots of key stakeholders, including investment committee members, senior leadership, staff, and your professional advisors.
Once you have created a draft of your IPS, it will need to be approved by your board of directors or other governing body. It should then be reviewed and updated on a regular basis, typically once a year. By documenting investment objectives, policies, and procedures, an IPS promotes continuity, accountability, and better investment outcome.
That’s why it’s a crucial part of effective long term portfolio management. For help developing an IPS for your organization, call CAPTRUST. We can help.
We have a saying in the investment markets: “Pessimists sound smart. Optimists make money.”
Over the last six months, investors have experienced stomach-churning price swings. Stocks pushed to all-time highs to start the year. Then, only three months later, investors panicked, sending stocks down 20 percent, with new global tariffs threatening economic growth. And as we enter the third quarter of the year, tariff panic has receded, and stocks have again surged to new highs. How can investors navigate this chaotic whirlwind?
Short-term economic uncertainty creates doubt in investors’ minds about future outcomes. That’s why prices go down during periods of panic. And yet, through recessions, political upheaval, wars, terrorist attacks, and pandemics, companies resolutely go about their singular work of creating shareholder value, expanding markets, developing new products and services, and growing earnings. And the stock market responds, mostly by going up over time.
Thirty years ago, the companies that make up the S&P 500 Index generated $244 billion in profits. In 2024, the same index produced $1.9 trillion, a growth rate of 6.7 percent per year. Up more than seven-fold. Companies continue to grow. This trend in corporate performance has paralleled society’s improvements globally. In the online media outlet The Free Press, authors Cliff Asness and Michael Strain argue that there has never been a better time to be alive.
Since 1995, wages for the average worker have grown by 44 percent after inflation.
U.S. government data shows that real incomes for the bottom 20 percent of wage earners more than doubled from 1990 to 2021.
In the 1960s, based on consumption, 20 percent of households lived in poverty. Today, that number is approximately 1 percent.
Life expectancy in the U.S. is higher than in Asia, the Americas, Africa, or Europe.
Two of today’s most respected researchers, Morgan Housel and Steven Pinker, also argue for the amazing progress that defines society today, but mostly goes unnoticed by the media. Progress, after all, is slow and tedious at times. Panics live in the moment, draw eyeballs and clicks and, in a past world, used to sell newspapers. Today, nothing sells newspapers.
Don’t be fooled by short-term, media-driven crises. Do your best to sidestep the panics. The world has gotten better, and only continues to improve. Don’t bet against the long-term economic progress of the U.S. and the world. Remember: Optimists make money.
The future of progress and strong equity returns are inextricably linked to two big questions: debt and demographics vs. technological advancement. Slowing demographic growth and high debt levels could lead to deflation: a weaker global economy where profit growth is even harder to come by. See? Don’t we sound smart?
Yet technology holds the potential to offset that pessimism. Technology vs. debt, these are the two main protagonists that will shape and define the next 10-20 years of development and progress. No, not the next 10-20 months of progress. Years. Investors need to hurry up and wait for a decade or two to allow portfolios to season, blossom, and grow. The real story of human history is one of progress and overcoming obstacles. The future, we expect, will be no different.
Until then, try your best to ignore the drama and volatility of short-term craziness. Focus instead on the next few decades of progress. And embrace a future brimming with advancement and opportunity. Your future portfolio will thank you.
Take this moment to make a mental list of all your assets – your home, your car, your wealth, your investments. Now, consider what will happen to each of these assets at your death. Not sure? That’s why it’s important to have a written estate plan for all the things you’ll leave behind.
Drafting an estate plan is one essential task that most people avoid, yet proactive estate planning is the best way to ensure that at your death, your assets are distributed according to your wishes. As you develop your estate plan, here are 10 key steps to consider:
Compile all necessary documents such as your will, advanced directives and powers of attorney.
These documents allow you to make your wishes clear, legally protect the assets you leave behind, and save your family time and money. They also help to guide your family members through key financial and healthcare decisions and potentially stressful times.
Confirm your beneficiaries.
Make sure all retirement accounts, insurance policies and annuities have primary and contingent beneficiaries that accurately reflect your current situation and intentions. It’s common for people to have outdated beneficiary designations that give account balances to former spouses or to family members that have already passed away. People also regularly forget to update beneficiaries when their minor children become adults. It’s a good idea to confirm your beneficiaries at least once a year.
Take advantage of trusts.
Two particular types of trust may be advantageous here – a revocable living trust, which is established before death, and a testamentary trust, which is established in your will. Trusts help your loved ones avoid probate costs and delays. They can also help you leverage tax benefits, provide beneficiaries with protection, and govern the private transfer of your assets.
Make sure you have sufficient life insurance to meet your family’s needs.
You want your loved ones to be able to meet their financial obligations without worry. For help determining how much insurance is enough, talk with your financial or insurance advisor.
Separate life insurance from your estate.
Keeping your life insurance death benefits in your estate can add a significant amount to your estate total and corresponding tax, unless it is owned in an irrevocable trust such as a testamentary trust.
Double check your liquid assets.
By confirming you have sufficient liquid assets, you can help ensure that your real estate, business interests and other liquid assets aren’t sold hastily to cover estate taxes or other costs.
Consider how your spouse or partner’s estate will interact with your own.
Before deciding which assets you will leave to your spouse or partner, it’s important to understand the potential impact to his or her own estate. Depending on your situation, leaving large amounts of money to one person or holding large amounts of joint property may not be the best option.
Consider your lifetime gifts.
Gift and estate tax legislation changes every year. Stay up to date on recent exemption amounts and take advantage of legislation changes while you are living.
If you are a business owner, learn more about key person insurance.
Key person insurance protects your business and value of your estate by providing liquidity at a critical time.
Make sure you keep things current.
Update your estate documents if you move to a new state, change your marital status, have a child, grandchild, or even just change your mind about your goals.
You’ve probably heard the old proverb that nothing is certain but death and taxes. Let this tried and true saying remind you why it’s important to make an estate plan. And when you need help, remember, CAPTRUST is only a phone call away.
An investment committee helps oversee and manage the growth of an organization’s investable assets. For endowments and foundations, these are usually volunteer positions that carry a significant responsibility. With that in mind, here are a few steps that can help your investment committee thrive.
Begin by establishing clear objectives. This is often done by creating an Investment Policy Statement, or IPS, which serves as a guidepost for the committee and helps to support objective decision making.
The IPS should define the organization’s:
Investment goals or objectives
Risk tolerance
Asset allocation strategy and allowable assets
Level of discretion assigned to the committee and its advisors
These objectives should be reviewed at least annually to reflect changes in market conditions or budgets. The investment committee may also create the organization’s spending policy and explore strategies such as mission aligned investing. Choose your committee carefully, selecting members who have a solid understanding of financial markets and investment strategies, and who have time to commit to the position.
To ensure fresh perspectives, consider including committee members who represent diversity in their backgrounds and their thinking. The size of your committee depends on the size and complexity of the nonprofit you serve. We recommend avoiding large groups, such as nine or more, since this can make it overly difficult to build consensus.
And always choose an odd number of members to avoid ties when voting. Regardless of any specific responsibilities, all committee members should stay educated on portfolio performance, market trends, and benchmarks. Committee members have a fiduciary responsibility to monitor the organization’s assets and should ask questions and review monthly statements and quarterly reports.
New committee members should be brought up to speed on historical decisions and performance when they join the committee. One of the most important tasks of an investment committee is to keep careful and detailed records. Include all past versions of your IPS, keep meeting minutes that explain your decisions and the reasoning behind them, and take time to document the roles of each committee member.
Communicate regularly with donors, staff, board members, and other committee members to keep them well informed. This includes sharing news of investment performance, New or existing objectives, changes to the committee, and anything else that establishes transparency between your committee and the rest of the organization.
Being part of a nonprofit’s investment committee is an awesome responsibility, in every sense of the word. You’re part of a greater good. And by establishing a strong investment committee, you’re helping create a ripple effect of positive change. For help establishing, optimizing, or restructuring your nonprofit investment committee, call CAPTRUST.
Our financial advisors have the expertise and experience to help.
Understanding Your ERISA Fiduciary Responsibilities as a Retirement Plan Sponsor
The Employee Retirement Income Security Act (ERISA) categorizes most retirement plan sponsors and their plan committee members as fiduciaries.
A fiduciary is a person who holds a legal and ethical relationship of trust with another person or a group of people.
As a new plan sponsor, one of the most important steps you can take is to engage in fiduciary training. Sponsoring a retirement plan for your employees means you have a fiduciary duty to act prudently and solely in the best interest of planned participants.
Why Consider Fiduciary Training
Early in your journey as a plan sponsor, it’s critical that you understand what it means to be a fiduciary and how to fulfill your fiduciary duties. Fiduciaries are held to a high standard of conduct and the potential consequences of not understanding can be significant.
Fiduciary training will help committee members understand their duties and responsibilities and what good governance looks like. It’s also a great way to minimize risk through education and governance.
While not a requirement, the Department of Labor (DOL) views fiduciary training as a critical component of prudent oversight, and it frequently looks for evidence of training during plan investigations.
CAPTRUST’s Fiduciary Training for New Retirement Plan Sponsors
Whether you’re a new or seasoned retirement plan sponsor, CAPTRUST has a robust team of retirement industry experts who can help. Our fiduciary training for new plan sponsors is part of our ongoing commitment to service beyond expectation.
In this training, we cover fiduciary duties as required under ERISA, but we also help you understand best practices for managing your new retirement plan beyond what’s legally required for compliance. These best practices help ensure you are fulfilling your obligations as a fiduciary and making decisions in the best interest of plan participants.
We start by defining who is a fiduciary and what their key responsibilities are.
Next, we explore a fiduciary’sduty of prudence, which requires that you continually monitor the investments offered within your plan. Merely providing a range of investment choices is not enough. We also discuss resources and options to support your retirement plan committee.
Then, we dive into your duty of loyalty and impartiality. This is known as ERISA’s exclusive purpose rule. It requires that fiduciaries discharge their duties solely in the interest of participants and beneficiaries, not in the interest of the employer.
Plan sponsors also have a duty to diversify plan investments and a duty to monitor and supervise service providers. Robust training will show you how to evaluate the prudence of any potential vendors and changes to your plan. It will also teach you how to evaluate whether service provider fees are reasonable or not as part of your duty to ensure reasonable costs.
The last piece is your duty to avoid prohibited transactions. To make sure employers are not acting in their own self-interest, ERISA spells out five types of transactions to avoid. These are transactions between the plan and a party of interest. They include money lending, the extension of credit, and the sale, exchange, or leasing of any personal property. Fiduciary training will show you how to make necessary transactions without breaking the rules.
After your initial training, it’s a good idea to consider ongoing sessions in order to build a deeper understanding and stay informed of current trends, updated regulations, and litigation outcomes. But remember, throughout your journey as a retirement plan sponsor, CAPTRUST is here to help.
If you’re part of the team managing investments for a nonprofit, your job is to make sure the organization’s money is invested wisely to support its missions and programs in perpetuity. But how do you go about this important and seemingly complex task? One key step is to create an investment policy statement (IPS).
An IPS is a formal document that explains the guidelines and procedures for how to manage an organization’s investment portfolio. Typically, an IPS will define the organization’s investment goals, risk tolerance, asset allocation, and other key policies. It gives clear directions to finance staff and investment committee members.
Having a written IPS provides several benefits. Most importantly, it helps ensure consistency and accountability and how the portfolio is managed over time, regardless of who is managing it. An IPS may also promote better long-term investment performance. By establishing a disciplined process upfront, it can help prevent emotion-based or reactionary investment decisions that might undermine the portfolio’s success. The policies contained in an IPS act as a guide to help the organization stay on track, even when markets are volatile.
So what exactly goes into an IPS? There are several key elements. First, you’ll want to outline the organization’s investment objectives. Is the overall goal to preserve capital, generate income, or grow the portfolio’s value over time? What are the long-term goals, and are there other, shorter-term goals you want to achieve?
Next, make sure to specify the organization’s time horizon, and risk tolerance. Then give details about asset allocation. What percentage of the portfolio should be invested in stocks, bonds, alternative investments, and other asset classes?
Your IPS should also include the organization’s policies regarding diversification, liquidity needs, rebalancing the portfolio, and selecting and monitoring investment managers. It’s a good idea to document any investment restrictions as well, including companies or sectors of the economy that are off limits from an investment point of view or that conflict with the mission or values of the organization.
Lastly, be sure to explain the investment decision-making process, reporting requirements, and oversight procedures. Some organizations also choose to include their conflict-of-interest policy within their IPS.
Keep in mind that creating an IPS is not something to be done hastily. It’s a thoughtful and sometimes lengthy exercise that should involve lots of key stakeholders, including investment committee members, board members and staff, as well as professional advisors.
Once you have created a draft of your IPS, it will need to be approved by your board of directors or other governing body. And it should be reviewed and updated on a regular basis, typically once a year or whenever there’s a major change in the market environment.
By documenting investment objectives, policies, and procedures, an IPS promotes continuity, accountability, and better investment outcome. That’s why it’s a crucial part of effective, long-term portfolio management for all organizations.
For help developing an IPS for your organization, call CAPTRUST. Our financial advisors have the expertise and experience to guide you through the process.
Have you ever wondered how people grow their wealth over time or how they save enough money to retire? Investment management is one part of the answer.
Investment management is the process of creating a comprehensive strategy to manage your investments and grow your financial assets. It means looking at your entire financial picture, your goals and their time horizons, your risk tolerance, and more, and then building a portfolio tailored specifically to you.
At CAPTRUST, investment management is one of the three pillars of our wealth management process, along with goal setting and risk management. It’s an important part of financial planning, which also includes strategies like budgeting, saving, and managing debt.
Investment management is something everyone should consider, regardless of your income or net worth, because it can help you understand and balance goals that sometimes compete with one another. It can help you take control of your financial future and make sure your money is working as hard as it can.
Whether you’re working with a financial advisor or managing your own investments, the first step is to name your financial goals. Do you want to save for a down payment on a home in the next five years? Pay for college for your children? Or reach a specific savings goal before retirement? Whatever your goals are, it’s important to define them because then you know how much money you’ll need.
Next, evaluate your risk tolerance. This means figuring out how much risk you’re comfortable taking with your portfolio. Are you the type of person who can handle big swings in the stock market? Or do you prefer a slow and steady approach to growing your wealth?
Once you’ve set your goals and risk tolerance, it’s time to choose specific investments. Examples include mutual funds, exchange traded funds, stocks, bonds, or alternative investments like real estate. The key is to diversify your investments across different asset classes so that you’re managing the risk of large losses while also achieving the returns you need to reach your financial goal. It’s also important to understand the tax implications of each type of investment. Certain investments, like municipal bonds, and certain investment accounts, like 401(k)s, 403(b)s, and individual retirement accounts are tax advantaged.
Deploying the right investments at the right time in your life can help reduce your taxes or at least make them more predictable. Although you don’t need to manage your investments on a day-to-day or even monthly basis, you should check on their progress every year or two, or whenever there’s been a big change in the markets or in your life.
At that point, you may want to make some adjustments. For instance, you might need to rebalance your portfolio to maintain your target risk level. Over time, some investments will likely perform better than others. causing your portfolio to drift away from the original plan. Rebalancing can help you get things back on track.
The most important thing to remember is that it’s not about choosing the right stocks or funds. It’s about taking a comprehensive look at your entire financial picture and crafting an investment strategy that addresses your specific needs and goals. By taking this holistic approach, you can ensure that all the different pieces of your financial life are working together to create the best possible outcomes.
When most people think about giving to a charity, the first thing that comes to mind is writing a check or giving cash. But if charitable giving is a priority for you and your family, consider donating appreciated securities as a more tax-efficient way to fulfill your charitable goals.
Appreciated securities are assets like stocks, bonds, mutual funds, and exchange-traded funds that have been held by an individual and have increased in value. Donating these securities directly to a charitable organization can be one of the most efficient ways of giving; that’s because you can avoid paying the capital gains taxes that otherwise would be collected on the increased value of the stock when it is sold. And if you itemize your tax deduction, you can also deduct the fair market value of your gift.
To better understand the value, let’s compare the tax benefits of donating a long-term appreciated security to a cash gift. Say you are planning on a gift of $50,000 but don’t have the cash on hand; you could sell shares of stock or other securities to raise the funds, but you would need to sell significantly more stock in order to net the intended gift amount when accounting for the capital gains you’ll have to pay. However, if you instead donate the number of shares equal to the market value of the gift directly to the organization, you can avoid paying the capital gains tax and still fulfill the charitable pledge. The charity can then sell the shares to generate cash, and they won’t have to pay taxes on the assets because of their nonprofit status.
Nonprofits are eligible to receive appreciated securities as long as they have investment accounts. Electronic transfers can easily be set up through brokerage firms, and other securities can be transferred through agents. If you have significant holdings in a single stock, donating appreciated securities can be a very powerful technique to enhance your charitable gifting. In some cases of highly appreciated assets, the tax savings alone may be more than the amount initially paid for the investment; making these gifts a smart choice.
If the charity you wish to impact cannot accept donated securities or you would like more flexibility in how you give, then you may want to open a donor-advised fund. The advantage of a donor-advised fund is that you can:
Donate appreciated securities and other assets in a lump sum to maximize your charitable tax benefit in a single year
Distribute that money to nonprofits over several years
Avoid capital gains taxes on the securities you donated
It’s important to know that the benefits are not unlimited. The IRS imposes annual limitations on these donation amounts. However, you can carry over any excess deductions for up to five additional years.
Donating appreciated securities is a win-win for both you and the charities you support. More giving, less taxes, and a bigger impact on the causes that matter most to you. Your CAPTRUST advisor is ready to help you begin the process so give them a call today.