A majority of American adults intend to make a charitable donation this year, but many of them will do so without the advice and counsel of a financial advisor, according to a study by St. Louis-based financial services firm Edward Jones with Morning Consult, a global data intelligence company.

The survey, which took data from 2,210 adults in August, found that 23% of respondents said they planned to consult a financial advisor before making a charitable donation. However, 35% of those who do work with an advisor said they felt more successful compared with 17% of those who do not work with an advisor. Thirty-four percent of those who work with an advisor also said they were excited by the prospect of doing so versus only 15% of those who said they did not have one.

The survey also found that 70% those who work with a financial advisor on strategizing their charitable giving are more than three times more likely than 22% of those without an advisor to donate non-cash assets such as stock, real estate, and other business interests, which Edward Jones said can make a greater positive impact on their financial situation, as well as the charity they support. 

According to Edward Jones, those who work with a financial advisor and employ strategies such as donor-advised funds may also find that their contributions go farther since money invested in them can grow tax-free over time.

Among those who work with a financial advisor, Edward Jones found that 78% said they were interested in including their families in a conversation about their charitable giving strategies—a keystone goal of donor-advised funds, which allow for joint or supervised charitable giving. Donor-advised funds can also continue to make grants for a period of time, or be named a beneficiary of a will, trust, retirement plan or investment account, ensuring a lasting legacy for the donor.

Zachary Gildehaus, senior analyst for client needs research at Edward Jones, said in a news release that, aspiring donors need professional advice and counsel.

“From the dollar amount to the time of year one chooses to donate, there are several factors to consider,” he said.. “A trusted financial advisor ... can walk [clients] through the different resources and approaches available to understand what works best, such as adding charitable giving as a line item in your monthly budget. It is important to remember that giving back can take many forms and charitable giving can look different depending on your personal financial situation.”

Founded in 1922, Edward Jones is a Fortune 500 company with nearly 19,000 financial advisors overseeing a total of $1.6 trillion in assets for more than eight million clients throughout the U.S. and its affiliate in Canada.