[{"data":1,"prerenderedAt":148},["ShallowReactive",2],{"gql:data:qanE499gCo5E0sP2FSz6K-zuBpyKpseECGuYbHXtj6M":3},{"mediaItem":4},{"relatedItems":5,"date":83,"derivedSeoDescription":13,"derivedSeoTitle":84,"derivedSocialMediaDescription":13,"derivedSocialMediaImage":85,"derivedSocialMediaTitle":84,"flexComponents":97,"author":9,"title":119,"byline":46,"shortDescription":9,"tileImage":120,"mediaFormat":129,"mediaFocuses":131,"teamMember":133},[6,44,64],{"title":7,"byline":8,"shortDescription":9,"slug":10,"featuredImage":11,"tileImage":23,"mediaFormat":34,"mediaFocuses":36,"date":43},"Outlook and Insights Third Quarter 2026","By Ferguson Wellman","","outlook-and-insights-third-quarter-2026",{"id":12,"alt":9,"caption":13,"assetUrl":14,"assetUrlXs":15,"assetUrlSm":16,"assetUrlMd":17,"assetUrlLg":18,"assetUrlXl":19,"assetUrlXxl":20,"width":21,"height":22},"1848",null,"https://www.fergusonwellman.com/system/uploads/fae/image/asset/1848/Screenshot_2026-07-08_at_9.46.24_AM.png","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1848/xs_Screenshot_2026-07-08_at_9.46.24_AM.png","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1848/sm_Screenshot_2026-07-08_at_9.46.24_AM.png","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1848/md_Screenshot_2026-07-08_at_9.46.24_AM.png","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1848/lg_Screenshot_2026-07-08_at_9.46.24_AM.png","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1848/xl_Screenshot_2026-07-08_at_9.46.24_AM.png","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1848/xxl_Screenshot_2026-07-08_at_9.46.24_AM.png",1622,2108,{"id":24,"alt":9,"caption":13,"assetUrl":25,"assetUrlXs":26,"assetUrlSm":27,"assetUrlMd":28,"assetUrlLg":29,"assetUrlXl":30,"assetUrlXxl":31,"width":32,"height":33},"1847","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1847/NoCat_Blog.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1847/xs_NoCat_Blog.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1847/sm_NoCat_Blog.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1847/md_NoCat_Blog.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1847/lg_NoCat_Blog.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1847/xl_NoCat_Blog.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1847/xxl_NoCat_Blog.jpg",700,330,{"name":35},"Annual Reports and Publications",[37,40],{"name":38,"slug":39},"Our Investment Views","our-investment-views",{"name":41,"slug":42},"Wealth Management Insights","wealth-management-insights","2026-07-01",{"title":45,"byline":46,"shortDescription":47,"slug":48,"featuredImage":49,"tileImage":51,"mediaFormat":60,"mediaFocuses":62,"date":43}," Where Are My Assets, Really? Understanding Counterparty and Custody Risk","By Samantha Pahlow, CTFA, AWMA®","Investors often focus on what they own and how those investments may perform and pay less attention to where assets are held.","where-are-my-assets-really-understanding-counterparty-and-custody-risk",{"id":50,"alt":9,"caption":13,"assetUrl":13,"assetUrlXs":13,"assetUrlSm":13,"assetUrlMd":13,"assetUrlLg":13,"assetUrlXl":13,"assetUrlXxl":13,"width":13,"height":13},"1867",{"id":52,"alt":9,"caption":13,"assetUrl":53,"assetUrlXs":54,"assetUrlSm":55,"assetUrlMd":56,"assetUrlLg":57,"assetUrlXl":58,"assetUrlXxl":59,"width":32,"height":33},"1866","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1866/Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1866/xs_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1866/sm_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1866/md_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1866/lg_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1866/xl_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1866/xxl_Blog_WM.jpg",{"name":61},"Articles",[63],{"name":41,"slug":42},{"title":65,"byline":66,"shortDescription":67,"slug":68,"featuredImage":69,"tileImage":71,"mediaFormat":80,"mediaFocuses":81,"date":43},"Managing Impactful Risks—Aligning Your Financial Life with Your Values","By Mary Lago, CFP®, CTFA","We can frame risks through many lenses, but the most common interpretations relate to insurance to mitigate the cost of low frequency.","managing-impactful-risksaligning-your-financial-life-with-your-values",{"id":70,"alt":9,"caption":13,"assetUrl":13,"assetUrlXs":13,"assetUrlSm":13,"assetUrlMd":13,"assetUrlLg":13,"assetUrlXl":13,"assetUrlXxl":13,"width":13,"height":13},"1871",{"id":72,"alt":9,"caption":13,"assetUrl":73,"assetUrlXs":74,"assetUrlSm":75,"assetUrlMd":76,"assetUrlLg":77,"assetUrlXl":78,"assetUrlXxl":79,"width":32,"height":33},"1870","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1870/Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1870/xs_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1870/sm_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1870/md_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1870/lg_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1870/xl_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1870/xxl_Blog_WM.jpg",{"name":61},[82],{"name":41,"slug":42},"2026-07-15","Resources | Donating Appreciated Stock to Charity: A Timely Strategy in a Strong Market  | Ferguson Wellman",{"id":86,"alt":87,"caption":13,"assetUrl":88,"assetUrlXs":89,"assetUrlSm":90,"assetUrlMd":91,"assetUrlLg":92,"assetUrlXl":93,"assetUrlXxl":94,"width":95,"height":96},"6","Ferguson Wellman Logo","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/xs_FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/sm_FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/md_FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/lg_FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/xl_FW-OpenGraph_2x.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/6/xxl_FW-OpenGraph_2x.jpg",1200,630,[98,102,116],{"instance":99},{"__typename":100,"body":101},"MediaPageTextComponent","On occasion, investments can experience periods of extraordinary appreciation, sometimes changing the size, concentration and tax profile of a position in a relatively short period of time. For charitably inclined investors, this creates a planning opportunity: by donating a portion of an appreciated position, investors may help support philanthropic goals, reduce embedded capital gains and support portfolio rebalancing or diversification. This can be especially useful for investors who would otherwise give cash, as donating appreciated shares may preserve liquidity for reinvestment or other planning priorities. \r\n\r\nWhile cash is often the simplest asset to give, appreciated stock may be the more tax-efficient choice. When shares held for more than one year are donated directly to an IRS qualified charitable organization, the donor may generally deduct the fair market value of the shares, subject to applicable income limitations, while also avoiding recognition of the embedded long-term capital gain that would have been triggered by selling the stock first. ",{"instance":103},{"__typename":104,"image":105,"videoId":9,"caption":9},"MediaPageImageOrVideoWithCaptionComponent",{"id":106,"alt":9,"caption":13,"assetUrl":107,"assetUrlXs":108,"assetUrlSm":109,"assetUrlMd":110,"assetUrlLg":111,"assetUrlXl":112,"assetUrlXxl":113,"width":114,"height":115},"1897","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1897/Screenshot_2026-07-13_at_8.29.01_AM.png","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1897/xs_Screenshot_2026-07-13_at_8.29.01_AM.png","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1897/sm_Screenshot_2026-07-13_at_8.29.01_AM.png","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1897/md_Screenshot_2026-07-13_at_8.29.01_AM.png","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1897/lg_Screenshot_2026-07-13_at_8.29.01_AM.png","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1897/xl_Screenshot_2026-07-13_at_8.29.01_AM.png","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1897/xxl_Screenshot_2026-07-13_at_8.29.01_AM.png",1280,720,{"instance":117},{"__typename":100,"body":118},"Consider a simplified example. If an investor purchased stock for $50,000 and it is now worth $100,000, selling the stock could trigger capital gains tax on the $50,000 gain. Instead, donating the shares directly to a qualified charity may allow the donor to avoid paying tax on the embedded capital gain and deduct the full fair market value of the donated shares, subject to IRS limits and individual circumstances. Assuming both a 35% federal ordinary income tax rate and a 23.8% federal capital gains tax rate apply, a $100,000 donation of appreciated stock could create up to $46,900 of federal tax savings: $35,000 from the charitable deduction plus $11,900 from capital gains tax avoided. By comparison, a $100,000 cash donation could create up to $35,000 of federal tax savings.* \r\n\r\nInvestors who still want exposure to a donated holding may also consider using cash to repurchase the same or a similar investment after the gift is made. This can allow the investor to maintain the desired portfolio exposure while replacing low-basis shares with newly purchased shares that have a higher cost basis. \r\n\r\nFor investors who know they want to donate appreciated stock but may not yet know exactly which charities they want to support, how much each should receive, or whether each organization can accept securities, a donor-advised fund may be useful. With a donor-advised fund, the donor can complete the charitable gift and potentially claim the deduction in the year the contribution is made to the fund, while recommending grants to charities over time. No additional charitable deduction is available when future grants are made to charities from the donor-advised fund. This can be particularly helpful in a high-income year, a liquidity event year, or a year in which a concentrated position has appreciated meaningfully. \r\n\r\nOf course, the details and a clients individual circumstances matter. Before donating appreciated stock, investors should consider the following: \r\n\r\n* **Holding period and gain.** The most favorable treatment generally applies to long-term capital gain property held for more than one year. If a security is worth less than its cost basis, it may be better to sell the asset, realize the capital loss and donate the cash proceeds. \r\n\r\n* **Deduction limits.** Gifts of appreciated property are subject to deduction limits based on adjusted gross income limitations, with potential carryforward treatment for unused deductions. \r\n\r\n* **Eligibility and documentation.** The charity must be qualified to receive tax-deductible charitable contributions, and donors should maintain appropriate records, including written acknowledgment and any required tax reporting. \r\n\r\n* **Special rules.** Gifts to private foundations, or gifts of closely held business interests, restricted stock, or other complex assets require additional review. \r\n\r\nFor families with meaningful charitable goals, appreciated stock can be one of the most effective assets to give. It allows wealth created in the portfolio to be redirected toward philanthropic priorities, often with greater tax efficiency than a cash gift. As always, investors should consult with their tax advisor and portfolio manager before making a charitable gift, particularly when the gift is large or complex in nature. \r\n\r\n\r\nFootnote:  \r\n\r\n*This simplified example assumes the donor itemizes deductions, the stock has been held for more than one year, no adjusted gross income limitations apply, the full charitable deduction is usable in the year of the gift, the donor is subject to the 3.8% Net Investment Income Tax and no state taxes apply. Actual tax results will depend on individual circumstances. Donors should consult their tax advisor before making charitable gifts.*\r\n\r\n**Disclosure**\r\n\r\n*The views expressed represent the opinion of Ferguson Wellman. The views are subject to change and are not intended as a forecast or guarantee of future results. This material is for informational purposes only. It does not constitute investment advice and is not intended as an endorsement of any specific investment. Statements of future expectations, estimates, projections and other forward-looking statements are based on available information and Ferguson Wellman’s views as of the time of these statements. Past performance may not be indicative of future results. Ferguson Wellman, Octavia Group and West Bearing do not provide tax, legal, insurance or medical advice. This material has been prepared for general educational purposes only and not as a substitute for qualified counsel who can determine how this information applies to you. We believe the information provided is from reliable sources but should not be assumed accurate or complete.*\r\n\r\n*Please see additional [disclosures](/disclosures/)*.","Donating Appreciated Stock to Charity: A Timely Strategy in a Strong Market ",{"id":121,"alt":9,"caption":13,"assetUrl":122,"assetUrlXs":123,"assetUrlSm":124,"assetUrlMd":125,"assetUrlLg":126,"assetUrlXl":127,"assetUrlXxl":128,"width":13,"height":13},"1895","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1895/_Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1895/xs__Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1895/sm__Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1895/md__Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1895/lg__Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1895/xl__Blog_WM.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/1895/xxl__Blog_WM.jpg",{"name":61,"slug":130},"articles",[132],{"name":41,"slug":42},{"fullName":134,"title":135,"slug":136,"image":137},"Samantha Pahlow, CTFA, AWMA®","Executive Vice President","samantha-pahlow",{"id":138,"alt":139,"caption":13,"assetUrl":140,"assetUrlXs":141,"assetUrlSm":142,"assetUrlMd":143,"assetUrlLg":144,"assetUrlXl":145,"assetUrlXxl":146,"width":147,"height":147},"270","Headshot of Samantha Pahlow","https://www.fergusonwellman.com/system/uploads/fae/image/asset/270/Pahlow_Sammi.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/270/xs_Pahlow_Sammi.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/270/sm_Pahlow_Sammi.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/270/md_Pahlow_Sammi.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/270/lg_Pahlow_Sammi.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/270/xl_Pahlow_Sammi.jpg","https://www.fergusonwellman.com/system/uploads/fae/image/asset/270/xxl_Pahlow_Sammi.jpg",1500,1784133657725]