AssetMark Introduces Giving Fund To Facilitate Philanthropy And Legacy Planning

CONCORD, Calif., Nov. 18, 2014 /PRNewswire/ -- AssetMark, Inc., a leading provider of innovative investment and consulting solutions for independent financial advisors, announced today the introduction of the Giving Fund on its platform. The Giving Fund is a donor-advised fund that allows clients to integrate tax-advantaged charitable giving with the management of their investment accounts and offers flexibility and choice when it comes to selecting charities and distributing grants.

"We created the Giving Fund to give financial advisors a powerful way to support their clients in their charitable giving," said Charles Goldman, President and CEO of AssetMark.  "The Giving Fund offers AssetMark advisors an efficient tool to align philanthropy with their clients' financial plan."

All investment solutions on the AssetMark platform are eligible to be included in a Giving Fund account. Donors can contribute cash, mutual funds and securities (as well as some non-traditional assets like real estate) to the Giving Fund and distribute grants from their account to qualified charities of their choice. Contributions to the fund are tax-deductible for the year that they are made, and investments grow tax-free to potentially increase the donor's future giving potential.

In addition to offering a higher degree of flexibility with regard to the timing and amount of charitable contributions for tax purposes, the Giving Fund simplifies the record-keeping process by providing a single annual tax document that covers all grants made during that year. Grants may also be made anonymously to avoid solicitation.

"Advisors have told us that it's impactful when they work with their clients to connect their assets to a larger purpose or cause," said Mr. Goldman.

Accounts may be set up for individuals, families, or organizations. The Giving Fund has a fully integrated new account opening experience through AssetMark, simplifying set up for advisors. The minimum initial contribution is $100,000 and subsequent contributions can be as low as $250. Donors can make one-time or recurring grants of $250 or more to qualified 501(c)(3) charities of their choice.

About AssetMark, Inc.

AssetMark, Inc. is an independent provider of innovative investment and consulting solutions serving financial advisors. AssetMark provides investment, relationship and practice management solutions that advisors utilize in helping clients achieve their investment objectives and life goals. The firm has approximately $23 billion in assets on its platform and a history of innovation spanning over 20 years. AssetMark works in collaboration with independent advisors who make a difference in the lives of their clients. AssetMark Financial, Inc. is the holding company and the acquiring entity. For more information, visit www.assetmark.com and follow @AssetMark on Twitter: https://twitter.com/AssetMark.

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SOURCE AssetMark, Inc.

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