North Star Resource Group is named Charitable Champion by Invest in Others for philanthropic efforts
BOSTON—September 19, 2024—The Invest in Others Charitable Foundation (“Invest in Others”) today announced North Star Resource Group as one of 10 financial advisory firms named to its list of 2024 Charitable Champions at its Invest in Others Awards Gala. This annual accolade calls attention to the efforts of firms that actively promote a culture of philanthropy among their advisors and employees.
North Star Resource Group’s charitable initiatives are deeply rooted in their mission of Changing Lives, Forever®, with a strong focus on financial wellness, diversity and community engagement. This is North Star’s second time achieving this award, as they were a member of the inaugural list in 2019.
“This year’s Charitable Champions serve as examples to us all on how to create a company culture that emphasizes giving back, and volunteering time and effort to improve their communities,” said R. Barkley Payne, Executive Director of Invest in Others Charitable Foundation. “We are proud to be able to bring peer recognition to the causes that our Charitable Champions support and reward their advisors and employees for the good they have done.”
Ed Deutschlander, CLU®, CLF, CEO of North Star Resource Group, commented: “We are honored to be listed among these great companies as Charitable Champions. It is a testament to what this industry does and what North Star has prioritized for over a century: Changing Lives, Forever.”
North Star’s philanthropic efforts are headed by the Scott Richards North Star Foundation (SRNSF). North Star Resource Group established this foundation in 2004 to maximize charitable contributions as a firm and support causes close to the North Star team. The foundation was renamed the Scott Richards North Star Foundation to honor our former president, Scott Richards, who passed away after a courageous battle with myelofibrosis and acute myeloid leukemia.
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Each year, North Star Resource Group donates 10 percent of all profits to charitable organizations through the Scott Richards North Star Foundation. To date, the foundation has contributed over $6.8 million to worthy charities.
“Part of being in the North Star Family is giving back to the community,” Deutschlander said. “We stress this in multiple ways, from —getting important work done in advancing cures and building communities and giving team members the opportunity of paid time off to volunteer for causes important to them.”
Since founding its foundation in 2004, North Star has focused its efforts on six main causes, including ataxia, Bikes for Kids, Alzheimer’s disease, breast cancer, cystic fibrosis and myelofibrosis.
“One area that has been a key focus of our foundation is finding a cure for Alzheimer’s,” noted Deutschlander. “Alzheimer’s continues to take millions of lives, and the time for a cure is long overdue.”
Senior vice president at North Star, Shaun McDuffee, AEP, CLU, ChFC®, CEPA, founded Stop Alzheimer’s Now (SAN) in 2013, and many North Star team members and advisors have joined him on awareness walks throughout the United States to raise funds for Alzheimer’s research.
Through SAN and Phillip Richards, founder and chairman of North Star, the Scott Richards North Star Foundation has funded two fully endowed chairs for Alzheimer’s research at Temple University.
Another long-held cause is the annual Bikes for Kids event, hosted by the Foundation since 2004 and coordinated by Joseph Fox, CLU, ChFC, CLTC, senior partner at North Star. Each December, Bikes for Kids hosts a holiday party, and at the end of the night, the children are surprised with a brand-new bicycle and helmet to take home. Each year, this is the top volunteer event at North Star, and most recently, the Foundation has worked with the United Heroes League to connect bikes with families of deployed service members.
In 2024, Invest in Others also placed a special emphasis on what impact firms were having through DEI initiatives. In 2023 and 2024, North Star was a founding sponsor of the Black and Brown Run Around in Milwaukee, an event hosted with Lead2Change to empower and uplift underserved communities. Additionally, in 2023 North Star developed financial wellness relationships with Jeremiah Program and Rondo Community Land Trust, nonprofits working to break the cycle of poverty for single moms and provide affordable housing respectively.
Finally, North Star is a long-time supporter and volunteer partner for BestPrep, a local nonprofit providing educational programs to students in grades 4-12 to ensure that students are college-prepared, work-ready and career-bound. Chase Brakke, DIA, DIF, CEPA®, Vice President of Business Owner Solutions, is a member of the board for BestPrep, and each year, North Star advisors and team members volunteer over 600 hours to BestPrep’s eMentor, Classroom Plus and Financial Matters programs.
The Charitable Champions were blindly selected from among the nominees based on criteria such as leadership and culture, events and activities, incentives, contributions and impact. All the firms have been in business for at least a year, have a minimum of three employees in the U.S., are in good standing with state and federal securities regulators and provide direct financial advice to households or organizations.
To learn more about Charitable Champions, please visit www.investinothers.org/charitable-champions.
About the Invest in Others Charitable Foundation
The Invest in Others 501(c)(3) Charitable Foundation aims to amplify, celebrate, and inspire the charitable work of the financial services community. Invest in Others is a catalyst to channel philanthropy and volunteerism to where it is needed most.
About North Star Resource Group
North Star Resource Group is a Minneapolis-based financial services firm that provides both individuals and businesses with the resources to help create, preserve, and protect their wealth. North Star has more than 192 full-time advisors and over 178 employees. In a network of 42 offices in over 20 states, they have contributed to the financial security and well-being of over 140,000 individuals and small businesses**. To learn more about North Star Resource Group, visit www.northstarfinancial.com.
**Data as of December 2023
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If you would like more information about this topic, please call Ian Rich at 612.617.6076, or email him at ian.rich@northstarfinancial.com.
Nominees must be currently working as registered representatives, registered investment advisors, or financial advisors with a professional designation. Nominees must be active financial advisors, defined by spending at least 75% of their time providing financial consultation with clients. Nominees must have worked in this capacity for at least three years. Volunteer involvement with the nonprofit organization must be current and ongoing for at least three years. Nominations are evaluated based on an advisor’s leadership, dedication, contribution, inspiration and impact on a nonprofit and the community it serves. Three finalists are selected in each of the six categories with one winner being chosen for each award. Award finalists and winners receive generous donations from Invest in Others to their designated charities. Listing in this publication and/or award is not a guarantee of future investment success. This recognition should not be construed as an endorsement of the advisor by any client. No compensation was provided directly or indirectly by the recipient for participation or in connection with obtaining or using the third-party rating or award.
The charitable entities and/or fundraising opportunities described herein are not endorsed by or affiliated with Cetera advisor Networks LLC or its affiliates. Our philanthropic interests are personal to us and are not reviewed, sponsored or approved by Cetera.