OppenheimerFunds has just launched its new Legacy Program, which offers a donor-advised fund. The fund gives investors another option for charitable giving which carries significant tax advantages.

The company depends on financial advisors to direct investors to the program since investors may experience donation inertia and require tax-related advice.

"Financial advisors have a critical role to play in our Legacy Program," said Bridget Macaskill, chairman and chief executive officer of OppenheimerFunds. "While many individuals are now in the financial position to support worthy charities, they don't always have the impetus to do so. Moreover, even when they are inclined to help, many people need guidance and direction on how to do so in a tax-efficient manner."

The fund has two investment pools, growth and income, which invest in Oppenheimer funds by board directive. A third money market pool is available only for exchanges from the other pools.

Donor advice comes in the form of charitable grants suggestions, but the ultimate decision falls to the board of directors. 

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