Schwab Charitable this week has reported strong results for fiscal year 2013. Assets under management were $4.8 billion, a 55 percent jump over the previous year. Grants to charities totaled more than $600 million, which was 12 percent more than the previous year.

"Last year was a great year for giving to donor advised funds because donors and their investment advisors realized how helpful these accounts can be for their charitable planning and giving,” said Kim Laughton, president of Schwab Charitable. “With the robust stock market, increased tax rates and potential legislative change looming on the horizon, donor advised funds gave people the comfort of an immediate tax deduction and the chance to set aside money to give to their favorite charities over time.  We continue to see strong growth in these accounts this year for the same reasons." 

According to the 2013 RIA Benchmarking Study from Charles Schwab, 54 percent of firms with assets under management of $25 million or more currently offer charitable planning services, and of those, 85 percent indicated that at least some of their clients are using those services. A total of 1,025 advisory firms that custody their assets with Schwab participated in this years study.

Thirty-four percent of firms with $25 million or more in AUM that do not currently offer charitable planning services are considering doing so in the future. That number goes up to 50 percent for firms with AUM between $50 million and $100 million.