BNY's Pershing is expanding its donor-advised funds platform for advisors that it says will provide clients with a more flexible and less costly vehicle for charitable giving.

BNY Mellon's Pershing is expanding its donor-advised
funds platform for advisors to provide clients with a more flexible and less costly
vehicle for charitable giving.

Pershing said its donor-advised funds solution and
educational resources will give advisors
the tools necessary to create and manage a donor-advised fund through an
alliance with Crown Philanthropic Solutions, a provider of donor-advised fund
technology.

This relationship is complementary to the current
arrangement with American Endowment Foundation, an independent sponsor of
donor-advised funds.

As an alternative to directing clients' assets to a
neutral platform, they now have the option to create their own, private-label
fund, Pershing said.

The collaboration will allow charitable
contributions to stay with the advisor while also enabling them to focus on managing
the assets rather than regulatory and legal matters, with
account minimums starting at $10,000, the firm added.