Bernstein Private Wealth Management (Bernstein), a unit of AllianceBernstein L.P. (NYSE: AB), today 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."
About National Philanthropic Trust
Founded in 1996, National Philanthropic Trust (NPT) is the largest national, independent public charity that manages donor-advised funds and one of the leading grantmaking institutions in the US. Since its founding, NPT has raised more than $45.6 billion in charitable funding and has made more than 600,000 grants exceeding $23.6 billion to nonprofits around the world. NPT annually publishes the Donor-Advised Fund Report, the sector's authority on the state of DAF philanthropy. Visit NPT's resource library to learn what you can do with a DAF and about NPT's impact investing solutions. More at NPTrust.org and NPTGivingPoint.org.
About Bernstein
Bernstein Private Wealth Management advises ultrahigh- and high-net-worth clients on planning for—and living with—the complexities that come with significant wealth. Bernstein is distinguished among major wealth managers by its expertise in navigating life's transitions through a holistic approach. A flexible process—paired with innovative research, sophisticated modeling, and cutting-edge investment solutions—also sets Bernstein apart. Headquartered in Nashville, Bernstein is a business unit of AllianceBernstein, which ranks among the largest investment managers in the world, with offices in major world markets across 26 countries and jurisdictions and over $676 billion in assets under management. For additional information visit Bernstein.com.