Bank of the West Wealth Management Group, a subsidiary of BNP Paribas’ global wealth management business, has launched a new donor-advised fund through its newly launched Family Wealth Advisors group.
The new fund will allow Bank of the West clients to make donations strategically to causes and charities of their choice, obtain a tax deduction for their contributions, and to make a charitable contribution.
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The bank said that the program will enable donor to contribute a range of assets, both liquid and illiquid, to the fund, while increasing the assets through investment returns.
Bank of the West’s donor-advised fund, which will be offered through its Wealth Management Group, has a minimum opening contribution of $5,000 with grants as low as $100.
Bank of the West Wealth Management’s Family Wealth Advisors group head Steve Prostano said: "An important aspect of the wealth management services we provide is helping our clients be more strategic in their philanthropic endeavors. Our donor-advised fund will provide Bank of the West clients with flexible giving options and guidance from our dedicated team of professionals."
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