Wealth Advisor - on the wrong track!
November 25th, 2008Last Friday I was stunned and pretty hot about a blog posting made by Sean Stannard-Stockton - a principal at a wealth management firm in California. His post had to do with trying to get foundation bloggers to mix it up and start disagreeing with each other on issues relating to the field of philanthropy. He was not keen on those who blogged from the foundation world to comment only on their foundations. Well - frankly this is one way on how we demonstrate our transparency for heaven's sake! I "tweeted" a bit on this on Twitter but was still pretty much excited because we had dedicated our new building that afternoon and was tired and had no energy to write a blog entry.
Well today - Sean's most recent article in the Financial Times changed all that! While I hesitate to want to even refer to his article - and this is to his blog - to give him the spotlight, I have to so readers can see what he wrote.
Sean is out of touch with reality and here is the comment I left on his blog site:
Sean! You obviously discounted my comments I made to you during our phone interview a few weeks ago. Community foundations are working with donor advisors and their grant making NOT as aggregators of their money. What a blanket statement with nothing to back it up! Lucy and Katherine's research came out three years ago - started at least two years prior to that and their warnings were heeded. I sure would like to know how you can generalize about community foundations across this country when you are still stuck on the warning that Lucy and Katherine made - and we took it seriously! Regardless of how many words you are limited to in terms of your columns in the Financial Times, you made some assumptions based on old information or information you thought was real but is not. Tremendous disservice. I'm disappointed. Diana Sieger
Essentially when I spoke with Sean a few weeks ago, his mind was already made up and he was obviously on a bent where he thought community foundations should outsource their transactional business part of donor advised funds to Fidelity or others so we could "pay more attention to" providing community knowledge and advising to our donors. Rather like saying, "don't worry your pretty little heads" about all that business stuff. He never has run a community foundation - hasn't a clue!