Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Schwab Gives Charitable Tool to Advisors Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, October 07, 2003

Schwab Gives Charitable Tool to Advisors

by: Sean Hanna, Editor in Chief

Charles Schwab hopes to lure advisors to its Schwab Fund for Charitable Giving with a new feature that allows them to manage the assets in their clients' donor-advised fund.

Schwab officials point out that by letting advisors take charge of the assets in the fund, they are able to exploit the benefits of a private foundation with the ease, efficiency, and reduced expenses of a donor-advised fund. Donors must place at least $500,000 in the account to be able to use the service.

"Private foundations face a less favorable legislative environment and increased scrutiny from public officials who are pushing for more accountability and reporting," said Kim Wright-Violich, president of the Schwab Fund for Charitable Giving. "At the same time, many high net worth individuals cite a lack of time as an obstacle to giving. A simple solution for many philanthropists is to convert their private foundation into a donor-advised fund account, which allows them to continue their giving without the administrative responsibilities and fiduciary oversight required for a private foundation."

Schwab is only making the Charitable Asset Management service available to donors and advisors working with Schwab Institutional or U.S. Trust advisors.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use