by Tamar Snyder
Holly Newman Kroft is a Managing Director and Senior Wealth Advisor at Neuberger Berman Private Wealth where she works closely with ultra-high net worth individuals and their families to develop customized investment solutions and address estate planning needs. Barron’s has consistently ranked Holly among the top advisors in the nation, including No. 2 overall and No. 5 in the Top 100 Independent Wealth Advisors in the nation. Holly was named one of the 50 Most Influential Women in Private Wealth by Private Asset Management Magazine in 2015. She has participated on FOX Business’s “Wall Street Week” and Barron’s Roundtable, CNBC, Yahoo Finance’s on the Move and Bloomberg’s Inspired Investing Conference. In addition to serving on the Board of the Jewish Communal Fund, she is on the Advisory Committee for the Hassenfeld Foundation. She is also a UJA-Federation of New York Lion of Judah and a founding member of the Artists Council at the Whitney Museum. Here she talks about the values that guide her family’s charitable giving and helping her clients prioritize giving back as much as wealth creation.
Jewish Communal Fund (JCF): What values drive your involvement in charitable giving?
Holly Newman Kroft: The same values that drive our involvement in charity are the ones we live by each and every day and teach our children: Respect, thinking of others and giving back.
JCF: Who inspired your love of giving to others?
HNK: Charity is a learned lesson—you learn by example. My parents were very involved philanthropically when I was growing up. I learned from a very young age about the importance of giving back; I was taught by example. When your children are young, it’s easier to get them interested in philanthropic activities rather than simply writing a check. Participating in charitable acts like volunteering at a soup kitchen or making sandwiches at their school makes an impression. The younger the kids, and the more dynamic the activity, the more they’ll absorb it.
JCF: Can you share with us some charitable causes that are meaningful to you?
HNK: As a family, we focus our giving around Jewish causes, health and education. Our giving extends beyond that to support our friends and their causes. It all comes back to your core beliefs—what’s important to you and your family, and where you would like to make a difference.
JCF: Any advice for advisors looking to engage their clients in philanthropy?
HNK: I think that learning to give is an art that needs to be taught, whether at home or from peers, colleagues or friends. I don’t often have to teach my clients that philanthropy is important. But I share with my clients my philosophy that giving is as important as wealth creation and that with great wealth, comes great responsibility. We often use philanthropy as a first step in involving the next generation in discussions around family wealth. Living a rich life is about more than money. Through family meetings, my team helps families we work with create and establish mission statements. A mission statement helps families put context around their giving. When you have a framework, it makes it easier to give to causes that are important to you, and say no to other causes.
JCF: You’re a JCF Fundholder and also a Trustee. How did you first become involved with JCF?
HNK: I learned about JCF from friends and working at Neuberger; I’ve been at the firm for almost 18 years. JCF has such a longstanding relationship with so many of my colleagues and partners. As I tell my clients, having a donor advised fund just makes giving easier. And doing it through JCF fits with our values. It’s an extension of what’s important to us.