Users of Fidelity Charitable, the nation’s largest donor-advised fund, recommended a record $7.3 billion in grants from their accounts in 2019, topping the previous record of $5.2 billion in 2018.
Organizations working in veteran support, disaster relief, environmental protection and civil discourse saw increased support, Fidelity said in a release.
Noting trends in granting, Fidelity said that 74% of the 2019 grants went to a charity the donor had previously supported, and 60% of grant recommendations were designated to be used “where needed most.”
Fidelity said that millennial donors account for 13% of new giving accounts opened in 2019, more than double the portion five years ago. It also noted that while most charitable contributions in the United States are made in cash, checks or credit cards, more than 60% of Fidelity Charitable contributions in 2019 were made in the form of noncash assets, including publicly traded securities, nonpublicly traded assets, such as private stock, restricted stock and limited partnership interests, and cryptocurrency.
The wealth tech platform says its newly secured patent represents crucial advances in digitizing outdated manual processes.
Financial advisors offer their thoughts on the President's widely anticipated executive order to open retirement accounts to private market assets.
The SEC says First Liberty lured investors with high-yield promissory notes, then used fresh cash to cover defaults and interest owed to earlier investors.
The agency's decision to stay the approval process just hours after signing off highlights ongoing ambiguity for new crypto-focused ETF offerings.
Meanwhile, Cetera has boosted its own recruitment numbers with new additions from LPL and Osaic.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
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.
