Advisors can now open, invest, and manage donor-advised funds (DAFs) for clients inside Altruist with no account-opening, balance, or grant minimums.
Altruist, an AI-forward wealth technology and custody platform for advisors, today added donor-advised funds to the platform. Advisors can now open, fund, invest, and manage a donor-advised fund for clients in minutes, and clients can recommend grants themselves, all without a separate system.
Opening an advisor-managed donor-advised fund has typically meant long setup times, a separate portal and login, and minimums that put the option out of reach for many clients. On Altruist, a donor-advised fund opens the same way as any other account: advisors can transfer an existing fund in two steps, contribute cash or appreciated securities in a few clicks, and see it appear alongside every other holding in the household view. Once a contribution is made, the assets belong to the sponsoring charity, which enables a donor to take the tax benefit while deciding over time where the giving goes.
Unlike most DAF platforms, which restrict investment choice to a fixed menu, assets in an Altruist donor-advised fund can be invested in any model in the marketplace, including custom portfolios and personalized-indexing strategies. There are no account-opening, balance, or grant minimums, and fees start at 50 basis points a year, well below the 60 to 65 basis points typical among other donor-advised fund sponsors.1
Clients can recommend grants directly from their Altruist account or the mobile app, choosing from more than 1.8 million eligible charities, without waiting on their advisor to initiate the transaction.
"Giving is one of the most personal things a client does with their advisor. We want to support advisors and their clients through that process by making donor advised funds easy to navigate and access," said Jason Wenk, founder and CEO of Altruist.
About Altruist
Altruist is an AI-forward wealth technology and custody platform for advisors, offering a fully integrated digital experience that makes managing investments and serving clients simpler and more affordable. Altruist combines a self-clearing brokerage firm with intuitive software for account opening, trading, portfolio management, billing, and reporting. With Altruist, financial advisors can create custom portfolios, trade fractional shares, access alternatives and margin, automate rebalancing and provide clients with a sleek web and mobile app experience. Learn more at altruist.com.
1 Donor-advised fund accounts are sponsored by Endaoment, a 501(c)(3) public charity that is the legal owner of DAF assets and the customer of record on the account. Contributions are irrevocable. Grant and investment recommendations are advisory only and subject to Endaoment's approval. The DAF account is charged an asset-based platform fee, billed monthly. See the Altruist Financial LLC Fee Schedule. Investments are subject to market risk, including possible loss of value. Altruist does not provide tax or legal advice and you should consult a tax advisor for tax impacts. Donors cannot receive a benefit from fund allocations. Custody and brokerage services provided by Altruist Financial LLC, member FINRA/SIPC. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20261005103748/en/
Contacts
Media Contact
press@altruist.com
