Fiduciary Trust Charitable Lowers Minimum for Advisor-Managed Donor-Advised Funds
BOSTON June 20, 2018– Fiduciary Trust Charitable, an independent public charity, has lowered the minimum amount required to open a donor-advised fund account from $250,000 to $50,000. There is no minimum balance needed to maintain an account. The reduction will enable more donors to benefit from the organization’s offering which includes tailored investment solutions from a growing number of approved financial advisors.
“We expect the new federal tax law to increase high-net-worth household interest in ‘charitable gift bunching’ using donor-advised funds,” notes Fiduciary Trust Charitable Executive Director Todd Eckler. “By lowering the minimum account opening contribution, more donors working with financial advisors will be able to take advantage of our donor-advised fund offering in general, as well as the ‘bunching’ tax strategy.”
For more information on ‘Charitable Gift Bunching,’ visit www.ftcharitable.org/charitable-gift-bunching.
Fiduciary Trust Charitable partners with financial advisors to provide donors with tax-efficient vehicles to support their philanthropic goals. Donors can benefit from financial advisors’ customized investment and philanthropic planning advice as well as the general tax and flexibility advantages of donor-advised funds. Among the general benefits of donor-advised funds, donors receive an immediate income-tax deduction in the year a contribution is made, while distributions to IRS-qualified charitable organizations can be made over time based on the donor’s recommendations. Donor-advised funds can be funded with assets from taxable accounts, trusts, private foundations and other donor-advised funds.
About Fiduciary Trust Charitable
Established in 1990, Fiduciary Trust Charitable is an independent, 501(c)(3) public charity offering donor-advised funds and related services. The organization partners with a growing number of financial advisors who manage assets for each donor, taking into account the donor’s recommendations and Fiduciary Trust Charitable’s investment policy. This enables a more customized investment management approach and personalized service relative to many donor-advised fund programs. The organization plans to offer private label and co-branded donor-advised fund programs for other public charities in the future.
Fiduciary Trust Company serves as the administrative services provider for Fiduciary Trust Charitable’s offerings.
About Fiduciary Trust Company
Fiduciary Trust is a privately owned wealth management firm focused on individuals, nonprofits, independent financial advisors and family offices. The firm’s capabilities include customized wealth planning, investment management, trust and estate services, and family office and custody services. Fiduciary Trust received the 2018 “Best Fiduciary or Trust Services” award from Family Wealth Report and was recently named a Custody Award finalist by Wealthmanagement.com in the Corporate Social Responsibility/Diversity category.
Founded as a family office in 1885, Fiduciary Trust takes a personal approach based on expertise, strong performance and a genuine commitment to act in its clients’ best interests. Its client focus has enabled the firm to achieve a 98% annual client retention rate for over a decade.
Emily Stoermer, 617-391-0801