In his Estate Planning and Philanthropy column, Conrad Teitell discusses a case in which donors claimed Fidelity failed to follow their investment advice on a $100 million gift, and sought damages for diminution of their charitable deduction and funds available to benefit charity.
April 23, 2021 at 12:45 PM
1 minute read
Donors claimed Fidelity failed to follow their investment advice on a $100 million gift to Fidelity’s DAF; and sought damages for diminution of their charitable deduction and funds available to benefit charity.
This is an important case. Fidelity’s Gift Fund is the largest U.S. charity in terms of gifts received; and donors aren’t small fry.
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Conrad Teitell
