Tifin Group acquires fintech targeting donor-advised funds

The Tifin Group, a platform that operates wealth management fintechs, is building out its software that helps financial advisers invest in donor-advised funds for clients.

The Louise by Tifin platform was named after Louise Carnegie, the wife of philanthropist Andrew Carnegie, who was well-known for her own charitable donations. The platform allows clients to donate to more than 1.5 million charities and provides personalized DAFs for giving-aligned investing, according to a release.

The platform's recent acquisition of Amicus.io, an early-stage fintech company that specializes in DAFs, provided new enhancements including a multicustodial platform, a higher level of security compliance and expanded investment options, including custom model portfolios. Louise currently serves about $38 billion in assets on the platform. 

"The future of philanthropy is undeniably digital," Cor Hoekstra, co-founder of Amicus.io, said in a statement. The upgrades mark a “new era” of giving that can engage the entire family, added Hoekstra, who will now become the general manager of Louise.

Louise also has the ability to create long-term family plans with gift targets and zero account minimums, according to the release.

Tifin burst onto the wealth management scene in 2018 and has created and operated a number of fintech companies specifically targeting financial advisers. 

The firm is now investing heavily in Louise in response to the increased demand for donor-advised funds. DAF assets grew by 10% in the U.S. last year, reaching $160 billion, and are estimated to grow to $1 trillion by 2030. 

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