We help you serve the needs of your philanthropic clients and prospects.
We provide wealth advisors across the country with a time-tested, third-party solution for setting up and managing private foundations. Your clients provide the funds, the vision, and the philanthropic goals; you manage the assets; we take care of the rest.
It’s no secret why wealth managers across the country are embracing philanthropic services as a key offering for high-net-worth and ultra-high-net-worth clients and prospects.
Ninety-eight percent of these individuals have an ongoing commitment to philanthropy, and they look to you for guidance.
Your clients get the full control, flexibility, and cachet of a private foundation, with the ease and simplicity of a donor-advised fund.
Historically, private foundations were expensive and complicated to set up and run. Foundation Source changed that forever.
Foundation Source provides a fully outsourced service that modernizes private foundations. Nevertheless, the following common misperceptions still persist.
Misperception: It takes at least $5 million to start a private foundation.
The Reality: Of the 91,000 foundations in existence today, 88% have assets below $5 million and 66% are under $1 million. Through Foundation Source, it is practical to start a foundation with as little as $250,000 and grow it over time.
Misperception: Foundations are time-consuming and costly to create.
The Reality: Foundation Source can have a new private foundation up and running in less than a week for a very reasonable fee.
Misperception: A donor-advised fund is easier to manage.
The Reality: Today, a foundation can be as easy to manage as a donor-advised fund. Foundation Source takes care of all the administrative tasks and provides easy-to-use online tools that keep donors in control.
Misperception: If your client chooses the wrong vehicle, he or she can unravel the decision later.
The Reality: If for some reason it becomes necessary to close down a private foundation, you can always grant those funds to a donor-advised fund. However, it is all but impossible to convert a donor-advised fund to a private foundation. Contributions to a DAF are irrevocable, owned and held by the sponsoring organization.
Foundation Source can set up a new private foundation for your client in less than a week.
Private Foundation Expertise: We back you up every step with sophisticated private foundation expertise, so you can confidently engage clients and prospects on philanthropy and private foundations. Our experienced Managing Directors, located across the country, are ready to answer your questions and to join you in client conversations, as appropriate.
We Support Your Client Relationships: You, as the wealth advisor, maintain the primary relationship with your clients. You manage the foundation assets while Foundation Source provides all other services needed to operate an efficient, successful philanthropic enterprise.
We Take Care of the Details: Your clients are in good hands. We take care of everything, from creating a new foundation to handling the most complex needs of large, already established foundations.
Fully Outsourced Services: We provide fully outsourced foundation administration, compliance monitoring, and advisory services, supported by web-based tools that donors use to direct foundation activities.
Excellent Customer Service: Your clients will receive excellent, responsive customer service, as evidenced by the 98% satisfaction rating we receive from our clients year after year.
A Guide for Helping Wealth Managers Serve Their Philanthropic Clients.
To help you prepare for your client conversations about philanthropy, we offer these materials other advisors have found useful.
Foundation Source has been a fantastic partner in helping my clients achieve their financial and philanthropic goals. The best example of my Morgan Stanley success is the partnership with Foundation Source and one of my most significant client relationships. I was able to leverage the incredible resources of Foundation Source and deliver to my client an end-to-end philanthropic solution. I recommend the professionals at Foundation Source and their firm with high conviction.
Foundation Source allows us to focus on key client issues as a financial advisor. They have far exceeded our expectations. They are responsive and take all the problems and difficulties out of administering a foundation.