The organizations have entered a strategic partnership, driving harder to serve HNW and UHNW clients in the US with their philanthropy and foundation needs.
Foundation Source, the US support services provider for private foundations, has formed a strategic alliance with Endowment Wealth Management. The pact provides high net worth and ultra-HNW clients with foundation guidance and management – at a time when philanthropy support is particularly urgent amid the pandemic.
The firms began working together when an EWM client who was working through a community foundation required help transitioning to a family foundation model. EWM turned to Foundation Source's outsourced solution which includes foundation creation, administrative support and other offerings.
EWM is a registered investment advisor and multi-family office. Foundation Source serves more than 1,650 family, corporate, and professionally staffed foundations. It is based in Fairfield, Connecticut.
The COVID-19 crisis has ramped up the need for specific types of philanthropy, including questions of whether foundations and other sources should speed up distributions. (See an article here by noted expert Susan Winer, of Strategic Philanthropy. Susan is also a member of this news service's editorial advisory board.)