Magellan Financial, Inc. Donates to Pair of Racial Justice Organizations

The Lehigh Valley asset & wealth management firm makes cash commitments to the NAACP Legal Defense Fund and the National Bailout Fund

​​​Magellan Financial, Inc., leading asset & wealth management firm in the Lehigh Valley since the 1950s, recently announced its support of the NAACP Legal Defense Fund and the National Bailout Fund. Partners communicated their decision to make the two cash donations in their June newsletter to clients. Funding specifics were not immediately disclosed.

“It is an understatement to say we are outraged by the death of George Floyd and so many others before him,” conveyed Jon Soden, a partner at the firm. “There is a lot of work to be done that has been put off for way too long. As a part of that effort, Magellan Financial donated to these two organizations to help those on the front lines who are making a difference on a daily basis.” 

The NAACP Legal Defense Fund supports litigation in the areas of poverty and justice, education, voting rights, fair employment, capital punishment, administration of criminal justice, and to increase educational opportunities through scholarships. The National Bailout Fund is a Black-led and Black-centered collective of abolitionist organizers, lawyers, and activists building a community-based movement to end systems of pretrial detention and ultimately mass incarceration.

Magellan Financial’s move comes as businesses across the country grapple with responding to protests for change that have swept the country in recent weeks. Most companies aim to balance separating politics from daily operations while also working to combat the challenges that Black Americans continue to face.   

Soden emphasized that the decision wasn’t about politics or choosing sides. “It is about basic human decency. It is about recognizing society has a problem that we need to work together to fix.” In the communication to clients, he concluded by noting that Magellan Financial considers it fundamental to society — to the words of our country's founding documents — that all people be treated with respect, dignity, and humanity, and hopes that the donations will support those aspirations.

About Magellan Financial

Magellan Financial, Inc. has been providing wealth asset management services for over 60 years. The firm offers comprehensive financial services to those in Allentown, PA, as well as Bethlehem, PA, the greater Lehigh Valley, PA, and customers nationwide. With more than 100 years of combined experience, a collaborative environment and an unbending focus on defining and achieving client objectives, the eight members of the Magellan team work every day to provide a different approach to wealth management.​

For additional information, please contact Jon Soden, Managing Partner, Magellan Financial, Inc.: jon.soden@wfafinet.com; 610-437-5650.

Source: Magellan Financial, Inc.

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Categories: Asset Management

Tags: Lehigh Valley Businesses, Local Philanthropy, NAACP, National Bailout Fund, Racial Justice, Wealth Management


About Magellan Financial, Inc.

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Magellan Financial, located in Allentown, Pa, offers financial services including investment planning & management, 401k plans, retirement planning, estate planning, college savings plans, life insurance, business financial services, and more!

Magellan Financial, Inc.
1605 N Cedar Crest Blvd (#111)
Allentown, PA 18104
United States