To assist in effective planning, we ask clients to carefully reflect on what is most important to them. That consideration is the foundation for the decisions about resource allocation. In many of the families we advise, a key component of their estate and lifestyle plan is philanthropy. Founders Anne Shumadine and Susan Colpitts have participated in a variety of organizations within their community throughout their careers. Their commitment to philanthropy benefits the community, themselves and the firm.

Signature has grown to 38 people and the culture of philanthropy has remained a core principal at the firm. All employees, but especially those working directly with clients, are encouraged to charitably engage in ways that are appropriate for their interests and experience. Signature has found that the advisors’ personal experience with philanthropy strengthens relationships with clients.

Susan Colpitts, founder and CFO, has participated in numerous boards and volunteer efforts. “I have found working with clients, as well as prospective clients, around the board table of the United Way, the Symphony, or the Medical School, is a wonderful way to level the playing field, which can become uneven from significant wealth.”

The commitment to community organizations does not stop at the board level. Emphasizing our commitment to teamwork, we donate time as a group to organizations through volunteer efforts. Each office participates in the local United Way Day of Caring annually. Signature teams can also be found participating in charity bike races and marathons. In 2014, as part of our 20th anniversary celebrations, we closed our offices for a day and employees joined forces with the Chesapeake Bay Foundation to help in the final clean-up of the Brock Center, a new educational facility in Virginia Beach.

Signature has found that successful entrepreneurs, as well as those with significant longer-term family wealth, often wish to translate their talents and blessings into active participation in the non-profit world by founding organizations that address community needs.

Wistar Morris, principal and client strategist, works with four clients who have founded thriving non-profits in the college town of Charlottesville, VA. “Perhaps the biggest challenge for the wealthy founder of a non-profit is to transition the organization away from a single-donor funding model of mainly their own largesse to a broad base of community support,” said Morris. “We’ve helped guide our clients in thoughtfully stepping back from the role of principal funder and board chair or president. Just like watching a child mature into a successful adult, the process can be stressful and challenging, but is ultimately extraordinarily gratifying.”      

Justin Fulton, principal and client strategist, believes that the benefits of service to non-profit organizations are two-fold. “By serving on boards, I’ve gotten a better understanding of the charity’s viewpoint and then as an advisor I’ve learned things from the client’s viewpoint," he said. "Now I feel that I can merge lessons from both sides to advance the cause they all ultimately care about and make sure the dollars given have maximum impact.”

According to Amanda Gift, principal and client strategist: “Participating in community non-profits has added a new dimension to my relationship with many clients. For example, as the chair of the board for The Up Center, in Norfolk, VA, I asked a client to be my vice chair. Understanding my client’s interest in the welfare of people in our community, and enthusiasm for this effort, not only enhanced our relationship personally, but underscored something that is important to us both professionally.”

Advising successful clients and families is not a straightforward matter. In order to create an optimal solution for a client, it is important to consider all facets of a client’s interests. Our client relationships can span generations and, over the course of time, families’ interests and commitments change. We work with clients to assess, and re-assess, what is most important to the client and craft a strategy accordingly.