Professional Advisor Q & A with Jon Bancks

Published: March 2, 2014 | By: Greater Cedar Rapids Community Foundation | Category:

Jon headshot 2013Jon Bancks CFP®  CPWA®
Financial Advisor
Vice President of Wealth Management
The Anderson Group at Morgan Stanely


Q. As you review your clients financial situations, why do you refer them to the Community Foundation?

I have found the Community Foundation to be an excellent local resource in philanthropy for clients and donors.  Understanding our clients’ charitable interests is something we work to identify and incorporate into our planning conversations with them.  The Community Foundation provides a convenient and affordable way for many clients –individuals, families or businesses – to set up funds and create a plan to support our community forever.


Q. How has the Community Foundation been helpful to your clients?


A.  The Community Foundation has a number of great offerings that makes starting a living legacy easy for many donors – large and small.  Donor-advised funds provide an affordable option with flexibility to provide control over distributions and professional investment management.  The Community Foundation also provides input and direction on grants and has been helpful with providing guidance to clients who aren’t connected to a specific charitable organization but are looking for ways to make a lasting and meaningful impact in the community.   And, I’ve yet to hear anyone complain about the benefits of the Endow Iowa tax credits,  although I haven’t found tax credits to be the driving factor in the giving decision.  It all starts with a desire to help and make a difference in their community.


Q. What inspires your clients to give?


A. Typically, I find that inspiration comes from the life experiences of my clients.  It can come from their involvement with a specific cause or organization, or from a personal event where they received assistance and experienced the impact an organization makes in someone’s life.   I have also found that there is a culture of giving in the Cedar Rapids area.  This is a very generous community.


Jon Bancks is a Financial Advisor with the Global Wealth Management Division of Morgan Stanley in Cedar Rapids, Iowa.  The information contained in this article is not a solicitation to purchase or sell investments. Any information presented is general in nature and not intended to provide individually tailored investment advice. The strategies and/or investments referenced may not be suitable for all investors as the appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.  Investing involves risks and there is always the potential of losing money when you invest. The views expressed herein are those of the author and may not necessarily reflect the views of  Morgan Stanley Smith Barney LLC, Member SIPC, or its affiliates.
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