How GiveWise Works with Brokers/Dealers

Introduction

GiveWise partners with brokers and dealers to provide seamless integration for managing Donor-Advised Funds (DAFs) on behalf of clients. By working with GiveWise, brokers and dealers can retain assets under management while empowering donors with impactful charitable giving solutions. This page outlines the processes and benefits of partnering with GiveWise.

Establishing the Partnership

Account Setup

  • Corporate Account:

    • GiveWise becomes a corporate, non-profit investment client of the broker/dealer.

    • A master-level corporate account is created with individual sub-accounts for donors.

  • Sub-Account Structure:

    • Sub-accounts are labeled "GiveWise - [Client/Donor Name]" for easy identification.

    • Donors and their financial advisors retain advisory privileges over the investment decisions for these sub-accounts.

  • GiveWise Supplies Required Documents such as:

    • Financials

    • Articles of Incorporation

    • Register of Board Directors

    • IDs for Signatories

  • Signatories:

    • One Director from the GiveWise Board (e.g., Mark Brandsma, Board Chair).

    • One of the following GiveWise representatives:

      • Dan Kyte, Director of Finance and Investments

      • Tammy Kyte, Alternate Signatory

Administrative Details

Managing Accounts

Investment Oversight

  • Flexible Guidelines:

    • Advisors collaborate with GiveWise to establish investment strategies for donor sub-accounts.

    • Balances over $25,000 can be managed directly by the financial advisor within the broker’s platform.

  • Transaction Approvals:

    • Money movements, rebalancing, and liquidations require email approval from GiveWise.

    • Primary approvals are handled by Dan Kyte. If unavailable, approvals move to Tammy Kyte, and lastly to Mark Brandsma.

Reporting and Performance

  • Regular Updates:

    • Financial advisors report performance to donors using third-party permissions granted by GiveWise.

  • Transparency:

    • Donors can view updated balances and activity in their GiveWise accounts.

Benefits of Partnering with GiveWise

For Brokers and Dealers

  • Asset Retention:

    • Keep donated assets on-book while offering clients tax-efficient giving options.

  • Ease of Integration:

    • Accounts are structured to work within existing broker/dealer platforms.

  • Streamlined Processes:

    • Sub-accounts minimize administrative burdens while maintaining full compliance.

For Donors

  • Tax Optimization:

    • Avoid capital gains tax by donating appreciated securities.

    • Receive immediate tax receipts for all contributions.

  • Customized Giving:

    • Invest Giving Fund balances to grow charitable impact over time.

    • Grant funds to Registered Canadian Charities at any time.

Next Steps

  1. Open a master-level corporate account for GiveWise Foundation Canada.

  2. Provide necessary onboarding documentation for GiveWise to fill out and establish the signatories.

  3. Establish protocol for creating and naming sub-accounts for advisors and their donor clients.

Need Help?

For questions or assistance, contact:

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