Schwab Charitable adds funds, open architecture

Investors in the Schwab Charitable Fund national donor-advised offering now have more investment choices.
AUG 07, 2009
By  Sue Asci
Investors in the Schwab Charitable Fund national donor-advised offering now have more investment choices. The fund from the San Francisco-based Charles Schwab Corp. yesterday announced the additions of four new options and an array of new underlying funds, which now include offerings from other fund groups in a move to a more-open architecture. The $1.85 billion fund added a socially conscious investing fund to its lineup of individual investment pools, which now total nine, the firm announced this week. The fund also added three asset allocation pools that are categorized by risk tolerance. Investors can create their own strategy by selecting a range of individual investment pools or pick an asset allocation pool that has a set strategy. In addition, the 10-year-old fund moved from exclusively using Schwab mutual funds to an open architecture for the underlying investments in the pools. The pools include funds offered by Pacific Investment Management Co. of Newport Beach, Calif.; the Denver-based Janus Capital Group; American Century Investments of Kansas City, Mo.; Parnassus Investments of San Francisco; and Manning & Napier Advisors Inc. of Fairport, N.Y. The fund also launched an investment advice tool. After a donor answer six questions involving the time horizon for the investment, risk tolerance and goals, the program will present them with recommended investment options. While assets have increased since Dec. 31, when the fund held $1.83 billion, the market downturn has had an impact on contributions, which dropped to $482 million through June 30, from $887 million a year ago, representing a 45% decline. However, Schwab’s granting to charities increased to $392 million through June, from $369 million through June 2008, representing a 6% increase. “People set aside money in good times and continue to grant in times that are not so good,” said Kimberly Wright-Violich, president of Schwab Charitable.

Latest News

SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees
SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees

Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.

Apella Wealth comes to Washington with Independence Wealth Advisors
Apella Wealth comes to Washington with Independence Wealth Advisors

The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.

Citi's Sieg sees rich clients pivoting from US to UK
Citi's Sieg sees rich clients pivoting from US to UK

The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.

US employment report reactions: Overall better than expected, but concerns with underlying data
US employment report reactions: Overall better than expected, but concerns with underlying data

Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.

Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading
Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading

"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.