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American Funds Community Foundation Program
American Funds now offers a special benefit to financial
advisors who are licensed to sell mutual funds and refer
clients to The Norfolk Foundation.
If your client chooses to establish an endowment here but
have the Foundation invest the donated assets in American
Funds, American Funds will pay you both an upfront “broker”
fee and trailing (12(b)-1) fees for as long as the Foundation
continues to invest those assets with American Funds.
How it works:
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Any financial professional (licensed Series 7 or 6) who
uses American Funds may refer a client to The Norfolk
Foundation to set up a permanent endowment.
-
The client donates tax deductible asset to The Norfolk
Foundation to establish the fund.
-
The Norfolk Foundation owns the assets but contracts with
American Funds Group (AFG) to manage them in accordance with
the Foundation’s investment policies and asset allocation
model.
The benefits to your clients:
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Tax benefits of charitable planning.
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Expert counsel in charitable giving.
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Access to all of the Foundation charitable products and
services.
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The joy of “giving something back” to the community.
The benefits to you as a financial
advisor::
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Advisor adds charitable planning to his/her repertoire of
services.
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Up-front “broker” fee (paid by AFG) – 1% on the first $4
million held by the Foundation;
- 50 basis points on the next $6 million held by the
Foundation;
- 25 basis points thereafter.
-
Trailing fees (12(b)-1 fees).
Types of funds available to your
clients:
If you want to partner with southeastern Virginia’s most
experienced community foundation, please contact:
Nan C. Edgerton, Vice President of Development
The Norfolk Foundation
(757) 622-7951 or
nedgerton@norfolkfoundation.org
Collaboration. Philanthropy. Impact. |
to
download a sample Donor Advised Fund Agreement