UBS and Foundation Source Enter into Strategic Agreement to Provide Customized Private Foundation Services for UBS Clients
UBS and Foundation Source Enter into Strategic Agreement to Provide Customized Private Foundation Services for UBS Clients
Expands UBS's U.S. Philanthropic Offering with Comprehensive Solution For Private Foundation Administration, Compliance Monitoring and Grantmaking .
FAIRFIELD, Conn. April 21, 2009 - Foundation Source, the nation's leading provider of support services for private foundations today announced a strategic alliance with UBS, one of the world's leading financial firms, to provide customized private foundation services for the financial institution's clients.
Through this relationship with Foundation Source, UBS clients will gain access to Foundation Source's suite of customized private foundation services which keep private foundations running smoothly and in compliance. Foundation Source reduces the cost and complication of operating a private foundation, resulting in a more enjoyable experience for donors, advisors, family and staff. In addition, the online tools used by UBS clients for managing day-to-day foundation activities will be customized to reflect the UBS brand for a seamless client experience.
"Our decision to partner with Foundation Source for private foundation services is based on providing clients with the best services available in the industry," said Michael Roberts, Head of Trust Services for UBS Wealth Management Americas." Since Foundation Source focuses solely on private foundations, they deliver efficiencies and innovations that greatly enhance our services to those clients."
"At UBS, we work closely with our clients to understand what they want to achieve with their giving, then align that passion with a personalized philanthropic plan of action that is part of the client's overall wealth management," said Bill Sutton, Head of Philanthropic Services at UBS Trust Company, N.A. "Foundation Source provides a level of service, expertise and attention to detail that allows clients to enjoy their philanthropy rather than dread the details."
Added Daniel M. Schley, Foundation Source Executive Chairman, "In the past several years, we have witnessed a dramatic emergence of strategic philanthropy as a core competency of the successful private wealth offering. Even with the current economic downturn, Americans continue to give generously. In fact, our private foundation clients increased their giving in 2008 by 30% over the previous year. UBS is ensuring that those clients who decide to pursue their philanthropy via a private foundation are able to do so efficiently and effectively."
About Foundation Source (www.foundationsource.com)
Foundation Source is the nation's leading provider of support services for private foundations. The company's back-office, online and support services ease the burden, freeing foundations to focus more on mission, strategy and family priorities and less on back-office administration and compliance tasks. The result: better run foundations with greater social impact. Foundation Source was recently named Philanthropic Group of the Year by the editors of Private Asset Management.
Today, Foundation Source provides its full range of award-winning services to nearly 900 private foundations coast-to-coast representing over $3.2 billion in foundation assets. Foundation Source provides its services through partnerships with the nation's leading private wealth management firms, trust and estate attorneys and CPAs. The company is headquartered in Fairfield, CT with regional offices in Atlanta, Boston, Chicago, Denver, New York City, Philadelphia, Salt Lake City, San Francisco and Seattle.