By Khalida Sarwari
While some companies gather the wealth, others choose to spread it. Jack Hillis’ wealth management firm belongs to the latter group. Every month, the company makes a $100 donation to a charity of a client’s choice.
This practice has been in place at Hillis Financial Services since February 2011. That’s when Hillis, a Saratoga resident and the company’s president, started the Hillis Gives Back program. The idea was to give back to the community and honor his clients for their support over the years, said Hillis. But there were some unexpected benefits.
“It also made me aware of the charities that I didn’t even know existed, lots of smaller ones I had not been aware of and realized they were doing a lot of big things out there,” Hillis said.
The charities run the gamut from children, family and senior support to those focused on education and the arts. Some examples include the Montalvo Arts Center, Silicon Valley Education Foundation, Rotary Club of San Jose PlayGarden, Hospice of the Valley, Child Advocates of Silicon Valley, the Lucile Packard Children’s Hospital, San Jose Family Shelter and Yu-Ai Kai.
The nonprofits are selected through a drawing each month. “All the clients have given me a list of their charities,” said Hillis.
Since its inception, Hillis Gives Back has supported about 40 local and national nonprofit organizations and donated more than $4,000 on behalf of clients. They’re discouraged by the compliance department of the company’s broker dealer to give more than $100 for legal reasons, but in the case of duplications, the selected charity will receive an additional donation.
“The gift has to be $100 or less. A charitable donation is the same as a gift,” Hillis explained. “I was originally trying to do more, and the regulatory board of investment companies would not approve it.”
Located in downtown San Jose, Hillis Financial Services was founded in June 2001 to serve the investment needs of residents in Silicon Valley. The firm has a staff of six, including three advisers, and about 300 clients, most of whom are from San Jose, Los Altos, Los Gatos, Cupertino, Campbell and Saratoga.
“We pride ourselves in providing unbiased recommendations,” Hillis said. “We don’t charge commissions so we feel we’re on the same side of the table as the client. If the client makes money, we make money.”
Hillis has been in the financial planning and asset management business for more than 40 years. He is also a longtime member and past president of the Boys & Girls Club of Silicon Valley and the Saratoga Men’s Club. Hillis and his wife, Polly, a fine art oil painter and chair of the Foothill Club Foundation, live in Saratoga and have three adult children and four grandchildren.
