Assante Wealth Management launches philanthropic platform

Assante Wealth Management has launched a program to let clients incorporate philanthropy into their wealth plan.

The Charitable Giving program allows investors to use donor-advised funds (DAF) to support charities important to them, said the firm in a release.

“Assante has provided philanthropic support to clients over the years, but with the launch of a formalized program, we’re taking things one step further and helping clients connect their wealth to their values, families, communities and more,” said Bob Dorrell, senior vice-president and chief operating officer at Assante, in a release.

Investors work with their Assante advisor to invest the funds within the DAF and indicate where to make charitable gifts on their behalf. DAFs provide clients with “virtually the same benefits as creating a private foundation” at a lower cost and with fewer administrative burdens, the release said.

The Charitable Giving program uses Benefaction, a registered charitable public foundation. The program becomes part of a client’s overall wealth plan managed by their advisor.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.