“Until now, custom portfolio management has been hard for clients to obtain with a donor advised fund, as most donor advised funds are not integrated with the custody of their other accounts,” Bob Case, CEO of Ingalls & Snyder, said in a statement. “We now have a single platform for the custody and management of all client assets, including the assets in their donor advised fund. This enables complete oversight of philanthropic assets as part of clients’ holistic financial plans.”
There is plenty of room for advisors to expand their offerings in the philanthropic space. According to the 2021 Fidelity RIA Benchmarking Study, 69% of RIAs offer philanthropic planning services, but only 20% of clients are utilizing them.
Hoekstra added in a statement, “This marks a new era in which charitable planning will be a growth pillar of holistic wealth management.”