Q&A with Wendell Fuller, Transfer of Wealth, Connecting Families,
and "Why We Partner" with new donors Kristen and Brian Richardson.
Q&A with Wendell Fuller
Founder, Fuller Wealth Advisors
Wendell Fuller founded and operates Fuller Wealth Advisors, a fee-only firm offering financial planning and investment services to clients locally and nationally. He not only sits on the Community Foundation’s Professional Advisor Council, but he also personally participates in philanthropy through board service and as a member of the Ujima Legacy Fund giving circle. 

We spoke with Wendell about how he transitioned from electrical engineering into financial advising, how he approaches philanthropy with his clients and how he views cultural competency in financial planning, wealth building and philanthropy.
How did you become educated about the financial planning profession?

I did not grow up in an environment talking about stocks or mutual funds, primarily because my family and peers were never exposed to that environment. I have always been interested in investing and learned that it serves as a catalyst to wealth building and generational wealth.

People often ask me about making the transition, but it’s probably the engineer in me, always curious to solve problems. Although quantitative in many aspects, financial planning is a people business first and foremost. Being able to help those who want help in solving their problems is very rewarding to me. While much of my journey has been trial by fire, I also studied feverishly and constantly, reading articles and industry content and learning from peers when given the opportunity.
In this new series, you will hear from local individuals, families and organizations as they share why the Community Foundation is their partner of choice to help them pursue their charitable goals and maximize their impact in the community.

Kristen and Brian Richardson
on why they started a donor advised fund in 2021
Transfer of wealth: Following the money
“The greatest wealth transfer in modern history has begun,” according to a mid-2021 report in the Wall Street Journal. And, with tax reform’s big bite into estate values off the table, at least for now, many of your older clients may be thinking seriously about their legacies.

And these legacies will be significant. As of March 31, 2021, according to data collected by the Federal Reserve, Americans in their 70s and older had a total net worth reaching almost $35 trillion. By 2042, an estimated $70 trillion will change hands, including an estimated $9 trillion flowing to charities, according to research conducted by Cerulli Associates. 

As you advise an older client, an important part of the conversation will be to determine the best charitable giving vehicles to achieve your client’s community goals, particularly evaluating the potential role of a donor-advised fund or private foundation. 
Helping families stay connected across the miles and generations: There’s a gift for that!
Your philanthropic clients will thank you for suggesting they consider giving the gift of giving (say that three times fast!) in the form of a charitable fund instead of the more typical “I made a gift to my favorite charity in your honor.” 

More and more parents and grandparents (and friends and colleagues) are giving a child, grandchild, friend, or co-worker a charitable fund, pre-established and pre-funded, in the name of the recipient. Frequently taking the form of a donor-advised fund, this gift allows the recipient to experience the benefits of working with the Community Foundation to support important causes. 

The team at the Community Foundation can help your client create a fund from soup to nuts, including granting the recipient online access. Your client can literally put a bow on the carefully rolled up fund document, sign a card listing the URL and login credentials to view the fund online, and present the package to the child, grandchild, friend or colleague as a gift. Both giver and receiver will love the experience.
Community Foundation Professional Advisor Council

Farhad Aghdami, Williams Mullen | John Bristow, Armstrong Bristow | Jen Flinchum, Keiter | Wendell Fuller, Fuller Wealth Advisors | Tim Guare, Timothy H. Guare, PLC | Chase Hill, Heritage Wealth Advisors | Julian Hillery, Davenport | Elizabeth Hopkins, J.P. Morgan Private Bank | Mike Kerr, Acima Private Wealth | Kevin King, SBK Financial | Michele McKinnon, McGuireWoods | Phyllis Mutchnick, Wells Coleman | Ann Ramage, Keiter | Newnie Rogers, Virginia Estate & Trust Law | Kevin Seay, Kanawha Capital Management | Bryan Stark, TCV Trust & Wealth Management | Jeri Turley, Winged Keel Group | Logan Waters, Waters Wealth Consultants | Madison Wootton, BB&T Scott & Stringfellow | Tom Word, Virginia Estate & Trust Law | Bucci Zeugner, Davenport