The Mankato Area Foundation Investment Partners Program creates a value-added partnership between financial advisors and MAF. The financial advisor can assist its clients with charitable gifts and still maintain management of the gifted funds. MAF then hires the advisor to manage the gifted funds. The advisor helps MAF and the Greater Mankato area by guiding clients with charitable interests to MAF.
Benefits for the Advisor’s Client
Benefits for the Advisor
Who Can Participate in the Investment Partners Program?
Advisors whose clients have established charitable funds at MAF totaling at least $200,000 are eligible. The Investment Partners Program relationship may begin with smaller charitable funds, and the $200,000 threshold may be met by the advisor with aggregate funds over a three-year period of time.
Investment Options and Minimums
– Separate fund accounts must be maintained for reporting.
– The advisor accepts discretion and signs MAF’s standard Agency Agreement.
– The advisor agrees to abide by the Investment Partner Reporting Requirements.
– MAF agrees to advisor’s standard account management agreement.
Other Key Points
To establish the fund, the client signs a fund agreement with MAF and requests that assets be managed by the advisor. The fund will pay MAF’s standard allocation and investment management fee. The financial advisory firm is not party to this agreement. MAF and the advisor enter into advisor’s standard investment services agreement, and the advisor manages the newly gifted funds according to MAF’s Investment Policy. The charitable gift is irrevocable and the assets are property of MAF.
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