NU Online News Service, Oct. 7, 2003, 3:57 p.m. EST – The Schwab Fund for Charitable Giving, San Francisco, a donor-advised charitable fund, has started Charitable Asset Management, a service that gives independent financial advisors the ability to manage the assets in a client’s donor-advised fund.

The Charles Schwab Corp., San Francisco, set up the Schwab Fund to give clients a simpler, cheaper alternative to setting up private foundations.

Clients who have more than $500,000 in charitable assets will now be able to work with advisors affiliated with Schwab’s Schwab Institutional unit or Schwab’s U.S. Trust unit to control management of the funds, Schwab says.