Jared Siegel, cofounder of Delap Wealth Advisors in Oregon, has long been working to merge his passion for generosity with the practicality of wealth management. As a financial advisor, his goal is to help clients build and preserve their wealth without the stress and worry that sometimes comes with making wise financial decisions.
We sat down with Jared to learn more about his work and how he points his clients toward generosity.
How did generosity become important to you?
I started to explore biblical generosity in college after learning about Bible-based concepts around giving. That’s when my wife and I first developed the discipline of a tithe. Later, I had the opportunity to go to a Generous Giving conference in Austin, Texas, and experienced others who were living very courageous and bold expressions of generosity out of all kinds of different financial capacities.
Shortly after, I started the investment advisory practice where I now help people develop financial plans. Charitable giving is one of the four potential destinations for every dollar of wealth that any individual has. They’ll either spend it, give it to heirs, give it to charity, or the government will take it. For me, being an advisor is an opportunity to explore professionally how I can direct clients as it pertains to their charitable giving goals.
How did you decide to bring generosity to the forefront of what you do as an advisor?
I once heard a mentor say that they had never encountered an unhappy generous person, and I’d say that’s true. Exploring the role that generosity can play within a flourishing family seemed to make a lot of sense to me as an advisor.
Why do you think some advisors don’t discuss generosity with their clients?
I think it’s difficult to talk about things you don’t believe deeply in. There’s a chance that some advisors feel a level of insecurity around topics like generosity, and that could be a limitation. I think at times asking people about generosity can feel almost too personal or potentially judgmental. So, not wanting to provoke an uncomfortable conversation can be one reason that people avoid the topic. Then, at times, some of the charitable strategies can introduce a level of technical complexity that exceeds somebody’s proficiency. So again, insecurity can limit the conversation of the potential opportunities with a client.
Why did you choose to work with NCF?
I enjoyed the cultural and value alignment – the why behind the giving. I enjoyed the content, the curriculum, and the community that NCF brought to the giving conversation.
Is there any experience with NCF that stands out to you?
I would say there’s a level of personal care and engagement that I observe to be differentiated within an industry that can be transactional. The excitement and joy that I experience through the NCF community when somebody is mobilizing resources for kingdom causes is something really unique to working with NCF.
Tell me about a time you helped someone become more generous.
There are a lot of people that have a high conviction around giving but don’t understand how giving can be amplified when you give with non-cash gifts. So, whether it’s giving with appreciated stock, or appreciated real estate, or private company stock, the opportunity to mobilize the entire balance sheet enables people to give more. That seems to be a recurring theme among the families that we serve. It’s this question of: How do we increase the giving efficiency that can support and amplify financial goals as it relates to charitable intent?
Tell me about a struggle a client had that you were able to help resolve with knowledge related to charitable giving.
At times, clients will be dealing with the competing priorities around tax planning, charitable giving, and liquidity planning. The donor-advised fund [NCF’s Giving Fund] has been a wonderful vehicle to dedicate dollars that will go to charity long term without the clients needing to send the checks immediately. From a planning and tax-timing perspective, the donor-advised fund provides an opportunity to create a purposeful pause to dedicate dollars longer term toward charity while capturing a tax deduction in the year where it would be most beneficial.
What kinds of giving conversations have deepened your relationship with your clients?
At times, some of the highest capacity families are exploring how to invite next generations into a giving story. It’s often said that values are caught more than taught. So again, the donor-advised fund can be one of the many different tools available to a higher capacity family looking to steward wealth well across multiple generations.
Is there a number one tip you would share with other advisors who are looking to point their clients toward charitable giving?
I would encourage all the advisors to help every client define each dollar of wealth, whether it’s spent, given to heirs, or given to charity. At the end of the day, creating an efficient charitable strategy enables you to amplify the impact and value that you provide to the clients, which makes your job more rewarding and seems to be correlated with happy clients and business growth.
Do you have any resources that have been helpful to you in terms of generosity?
There have been conversations with clients and mentors where I’ve been encouraged and inspired by their bold expression of radical generosity. The content from NCF, or the conferences at Generous Giving, or the multi-day experience known as a Journey of Generosity have all been sources of clarity, conviction, and inspiration for me as I explore what generosity looks like both personally and professionally.
