2010 Press Releases

Credential expands its wealth management services by partnering with Canada Gives

by User Not Found | Jul 30, 2010

July 30, 2010 – Vancouver, BC – Credential is pleased to announce that we are expanding our wealth management services to offer charitable giving using donor advised funds. Through a partnership with Canada Gives, a charitable not-for-profit organization, Credential will begin offering donor advised funds (DAFs) as part of its Credential Wealth Management Specialist Platform beginning in fall 2010.

Donor advised funds are the fastest growing charitable giving vehicle in the U.S. today, with $6.6 billion in annual contributions per year and an average size of USD $200,000. Fully 78% of DAF accounts are opened by financial advisors. In Canada, DAFs have been recently introduced through the major banks and some mutual fund companies and are rapidly gaining interest as an alternative to private foundations.

Credit union members can use donor advised funds to help create personal or family foundations that align their charitable giving to their unique philanthropic goals, a shining example of the cooperative values that distinguish the credit union member experience. While DAFs represent a valuable service to your members, philanthropy is also good business for credit unions and advisors. Donations into Canada Gives accounts at Credential are irrevocably given and create long-term loyal assets for the investment professional to manage.

As part of the roll-out of the donor advised funds program this fall, Credential advisors will receive a comprehensive Advisor Guide from Canada Gives covering the administration process, basic donation tax law, prospecting help, financial planning and insurance strategies for charitable giving.

The Specialist Platform on kXg is an integral part of Credential Wealth Management, and an essential tool for advisors to be more to their members by positioning themselves as the primary wealth expert who ‘quarterbacks’ relationships with various levels of experts.

For more information about Canada Gives donor advised funds, please visit www.canadagives.ca.

About Credential Financial Inc.
Credential Financial is a national wealth management firm, with over 20 years of experience in the Canadian financial services industry, offering a full suite of products and services to over 225 organizations and more than 1,300 advisors. Credential and its member companies (Credential Asset Management, Credential Securities, Credential Direct, and Credential Insurance Services) provide MFDA and IIROC dealer services, online brokerage, and insurance solutions to credit unions and independent financial institutions across Canada. For more information, visit www.credential.com.

For more information, please contact:
Armita Seyedalikhani, Manager, Strategic Communications
Credential Financial Inc.

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