Altruist added donor-advised funds to its wealth technology and custody platform, enabling financial advisors to open, fund, invest, and manage charitable accounts without moving clients into a separate system.
Advisors can establish a DAF in minutes, transfer existing donor-advised funds, and contribute cash or appreciated securities directly through Altruist.
The charitable account then appears alongside the client’s other assets within the household view.
Clients can also recommend grants directly through their Altruist account or mobile application.
The platform provides access to more than 1.8 million eligible charities.
Altruist said the offering has no account-opening minimum, balance minimum, or grant minimum.
Fees start at 50 basis points annually.
Assets held in an Altruist donor-advised fund can be invested through models available on the platform, including custom portfolios and personalized indexing strategies.
The DAF accounts are sponsored by Endaoment, a 501(c)(3) public charity that legally owns the contributed assets.
Contributions are irrevocable, while investment and grant recommendations remain subject to Endaoment’s approval.
The product expands Altruist’s integrated wealth management capabilities, which already include custody, account opening, trading, portfolio management, billing, reporting, alternatives, margin, fractional shares, and automated rebalancing.
KEY QUOTE:
“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.”
Jason Wenk, Founder and CEO of Altruist
