Tifin Give, the DAF platform subsidiary to AI and innovation-driven wealth tech giant Tifin, and AssetMark have inked a new partnership to make charitable giving easier for advisors and the clients they serve.
Under the collaboration announced Tuesday, the two fintechs said they’re building a modern donor-advised fund platform, which will streamline the charitable giving process and enhance the impact of philanthropic and tax planning efforts.
“We are excited to partner with AssetMark, a leader in the wealth management industry, to bring Tifin Give's digital-first donor-advised fund technology to their valued clients,” Paul Lussow, CEO of Tifin Give, said in a statement.
“This relationship represents a significant step toward our shared mission of making philanthropy more accessible and impactful," Lussow said.
Under the integration partnership, AssetMark clients will gain access to Tifin Give's state-of-the-art DAF technology to facilitate effective philanthropic and tax planning into their personal and legacy plans.
By simplifying the setup, management, and distribution of charitable donations, it enhances advisors’ ability to help the individuals and families they serve support their chosen advocacies.
The deal has the potential to expand Tifin Give’s reach across a vast enterprise, as Concord, California-based AssetMark’s platform encompasses $116.9 billion in assets and serves over 9,200 financial advisors.
"At AssetMark, we're committed to equipping our advisors with the best resources to serve their clients comprehensively,” said David McNatt, executive vice president and head of investment solutions at AssetMark.
“By seamlessly integrating philanthropy into financial plans, advisors can empower their clients to achieve their financial goals while making a positive impact on the causes they care about," McNatt said.
In February, Tifin Give boosted its ambitions in the philanthropic space by snapping up the Giving Place, a tech solution that supports charitable giving for family offices and foundations.
Tifin’s earlier efforts in the DAF space includes one pivotal deal in 2022, when it acquired early-stage fintech Amicus.io to enhance its own Louise by Tifin platform, named after philanthropist Andrew Carnegie’s wife Louise.
The deal to acquire a 300-client tax firm sets up much-needed succession for its 80-year-old founder, while joining a widening trend of tax service integration among RIAs.
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