Bernstein Private Wealth Management Launches Bernstein Philanthropic Impact Fund
Bernstein Private Wealth Management (Bernstein), a unit of AllianceBernstein L.P. (NYSE: AB), announced the introduction of a private label donor-advised fund (DAF) program, the Bernstein Philanthropic Impact Fund. The DAF program will be administered by National Philanthropic Trust (NPT). NPT, established in 1996, is a public charity and the largest national, independent sponsor of DAFs.
Amid the growing popularity of DAFs with philanthropic individuals and families, this enhancement to the firm's platform will offer a high-touch and efficient solution for charitable giving across a range of assets and levels of complexity. DAF grantmaking has been on the rise for over a decade, more than doubling in the past five years, and this new offering will further expand the range of options available to Bernstein's charitably minded clients to support their goals of creating a lasting impact.
"Bernstein has partnered with NPT for many years to help clients make strategic decisions with their philanthropy. As our managed assets in DAFs have grown, we're excited to unveil a new solution that will improve the client experience," said Jennifer Ostberg, Director of Personal Philanthropy at Bernstein. "Our clients will enjoy a range of benefits from this new structure including faster grant-making capabilities, an intuitive donor portal, and superior client service. The Bernstein DAF will provide our clients with the ability to address complex giving situations and maximize their ability to give more to the causes and nonprofits that matter to them."
"We are pleased to partner with Bernstein to offer this new donor-advised fund program, making charitable giving more accessible and efficient for the firm's clients," said Eileen Heisman, CEO of National Philanthropic Trust. "Bernstein's extensive expertise in sophisticated wealth planning, combined with NPT's best-in-class philanthropic solutions, will offer clients a seamless philanthropic experience."
The Bernstein Philanthropic Impact Fund is now available to Bernstein clients as part of its broader suite of DAF products.
The preceding press release was provided by a company unaffiliated with NonProfit PRO. The views expressed within do not directly reflect the thoughts or opinions of the staff of NonProfit PRO.