Professional Advisors

Kevin P. Stiles: A lifetime commitment to residents and nonprofits of Rhode Island

His work, like that of many others, has been impacted by COVID-19. “There was a lot of work around estate planning this spring, and charitable giving focused on those nonprofits responding to the needs of individuals they serve who were affected by the COVID virus."

Relying on nearly 40 years of banking and financial management experience, Kevin Stiles believes that the majority of people of wealth have a sense of wanting to give back to their community. “Individuals say they have intent to give, and some are giving of their time and talent, but are unsure how to make significant gifts. They appreciate the successes they have achieved and want to pay it forward,” he states.

This, he believes, is where the role of a professional advisor can benefit both the client and the community. “Advisors need to start the conversation,” he says, citing a national survey which found significantly more advisors said they felt they held these conversations than clients indicated.

Kevin P. Stiles

He sees the Foundation as an asset to the state, having first become familiar with it as a trust officer at Rhode Island Hospital Trust in the 1980s, a time when the Bank was the trustee for the Foundation. Kevin saw first-hand the evolution of the Foundation in its growth and service to the residents of Rhode Island. After a 35-year career in the personal wealth management and charitable asset management divisions with major financial institutions, he established his own practice as a personal and charitable trust advisor for high net worth families and private foundations.

His work, like that of many others, has been impacted by COVID-19. “There was a lot of work around estate planning this spring, and charitable giving focused on those nonprofits responding to the needs of individuals they serve who were affected by the COVID virus,” he explains.

Noting the various vehicles through which gifts can be made, he continues, “A donor advised fund (DAF) has become popular in the last 10 years and offers great flexibility for individuals to make donations. I personally find donor advised funds much more flexible than private foundations. DAF’s are less expensive to establish, are not subject to the same strenuous IRS regulations, and have equal investment opportunities.”

A graduate of the College of the Holy Cross, Kevin earned his JD at the Georgetown University Law Center, while also completing the U.S. Air Force Reserve Officer Training Corps (ROTC). He served in the US Air Force JAG Corp Reserve. He is treasurer of the board of Fort Adams Trust, chair of the Foundation’s Professional Advisory Council, and a former board member of the Partnership for Philanthropic Planning, a professional association that helps professionals stay informed of the needs of Rhode Island nonprofits, their donors, and community needs. He was president of the Rhode Island Estate Planning Council and also served on the board of CharterCare Health Foundation, a private foundation that utilizes the Rhode Island Foundation’s investment and administration expertise.