Almost quoted in the Wall Street Journal!

Well, this blog is getting around. A reporter from the Wall Street Journal contacted me after seeing one of my previous posts: Gift Administration Revolving Door (http://plannedgift.blogspot.com/2009/07/gift-administration-revolving-door.html )

Here is a link to the story she wrote: http://online.wsj.com/article/SB10001424052970204563304574314882717782344.html?mod=googlenews_wsj

Last night, she emailed the same story, but with a quote from me in the last line of the piece. Not there this morning. Oh well - there will be other times to get my name in print.

Check out the story. Interestingly, in speaking with a provider yesterday about this same topic, I was reminded that State Street Bank also had a "house cleaning" a few years ago, too.

This whole area of banks dropping clients or even dropping out of the business altogether makes the case for a charity to maintain its own level of expertise in-house or at least through a consultant. Self serving, yes, but true. You can't rely on banks to run your planned giving program. They can take most of the administrative/investment burden off your shoulders - a must for bigger programs - but it is still your program. I am always wary of banks that sell themselves providing planned giving consulting services along with the administration and investment. As I have said before, banks have no interest in the primary area of planned giving revenue - bequests - so what kind of program advice are they going to give you?