Foundation Source, the white-labeled donor-advised fund platform provider, has added multi-custodial capabilities into its existing infrastructure.
With the expansion, Foundation Source now offers wealth managers greater flexibility as they support their clients' philanthropic endeavors, according to the announcement, allowing them to deliver a “personalized and seamless giving experience” under their own brand.
The enhancement is powered by a new partnership with BridgeFT, whose API capabilities serve as the backbone for Foundation Source’s support of multiple custodians. The DAF platform continues to be offered in partnership with sponsoring organization Charityvest.
Ashby Foltz, senior vice president of product, said in a statement that supporting an advisor’s preferred custodian within the DAF platform allows for the best of both worlds: investment asset custody with a familiar partner combined with a user-friendly experience for donors.
“Our white-label DAF platform enables us to deliver a deeply embedded, advisor-led experience that is now highly configurable and ready to integrate with the many flavors of advisor tech stacks in the market today,” Foltz said.
Under this approach, Foltz said, advisors can maintain their preferred custodian relationship — including with the three largest national custodians — while managing DAFs with control over branding, investment strategy and service delivery.
"By integrating with BridgeFT and building on our existing advisor-branding capabilities, we're eliminating custodial and branding limitations, giving advisors a modern philanthropic solution that aligns with the sophisticated strategies advisors deploy every day," added Stephen Kump, president of DAFs at Foundation Source.
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