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AssetMark Announces Strategic Collaboration with TIFIN Give

The relationship will give AssetMark’s network of over 10,000 advisors access to TIFIN Give's advanced DAF technology.

The donor-advised fund arms race is heating up. On Tuesday, turnkey wealth management platform AssetMark announced a new strategic collaboration with philanthropy platform TIFIN Give.

Under this arrangement, TIFIN Give's digital-first DAF technology (built on the back of the platform previously known as Louise by TIFIN and powered by the acquisitions of and Giving Place) will be integrated into the AssetMark platform. The collaboration will give AssetMark’s network of over 10,000 advisors (collectively managing roughly $116 billion in assets) access to TIFIN Give's next-generation DAF platform, which purportedly provides a multi-custodial platform, SOC-2 security compliance and expanded investment options, including custom model portfolios.

“This has been a big initiative for us,” said AssetMark EVP and Head of Investment Solutions David McNatt. “With more and more advisors gravitating toward more holistic planning, we’ve seen increasing interest in DAFs in the last 4-5 years across all wealth tiers.”

However, McNatt was quick to point out this collaboration is more than just an efficiency play; it’s also about multigenerational planning and forging relationships with the next generation of clients’ families.

“Being able to engage with the rising generation in a safe sandbox can lessen the stress of initiating wealth conversations,” said TIFIN Give CEO Paul Lussow. “The right technology can help ease the next generation into the relationship.”

McNatt said that multigenerational outlook helped TIFIN Give stand out from its competitors, like Adam Nash's Daffy and Charityvest, in the increasingly crowded DAF technology space.

“We found that TIFIN offers a social dynamic not present in other platforms,” McNatt said.

AssetMark was also drawn to TIFIN Give’s versatility. Namely, the capability to enable more than just DAF-driven giving. “We’re a wealth management platform,” said McNatt. “As our advisors grow, they naturally begin working with more upscale clients. These clients have charitable intentions but also tax concerns, so we were looking for a solution to a more holistic problem.”

"While the DAF product is our core chassis, we also service other philanthropic vehicles. We’re generosity agnostic,” said Lussow.

That the collaboration will be white labeled with the AssetMark brand leading the way likely also doesn’t hurt.

McNatt and Lussow agree, however, that the ultimate goal is to make the advisor/client relationship less transactional and more nuanced and value-driven while also creating some positive change in the world.

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