Pershing DAF configuration
Pershing-specific instructions for enabling multi-custodial DAF accounts
Curious how much time it will take? The total estimated timeline for initial setup is approximately 2-3 weeks from initiation.
If you are a firm program manager, and wish to set up Pershing multi-custodial accounts under your custom DAF program, contact your Charityvest relationship manager or the Charityvest support team ([email protected]) for guidance on completing these steps:
Open new client Pershing DAF accounts (titled in the name of the DAF sponsor: Charityvest, Inc.) for each client.
Establish one or more new Advisor Codes (IP Numbers) via Pershing.
Complete ROI authorization for BridgeFT (up to 10 business days).
Connect your new Pershing client DAF accounts to your custom DAF platform with help from your Charityvest relationship manager (up to 3 business days).
Validate and test account balance displays alongside the Charityvest support team.
For any future client external DAF accounts, desired after the initial setup process, you may contact your Charityvest relationship manager to coordinate:
Opening new client Pershing DAF accounts (titled in the name of the DAF sponsor: Charityvest, Inc.) on the Pershing platform.
Creating or assigning DAF-specific Advisor Codes (IP Numbers) to the new client Pershing DAF accounts.
Completing ROI authorization for BridgeFT for new Advisor Codes (IP Numbers) as needed.
Open new client Pershing DAF accounts
The first step in the process to enabling multi-custodial DAF accounts is to create new Pershing brokerage accounts on behalf of each of your clients.
You will need to open a unique account per client interested in a multi-custodial DAF arrangement. However, these accounts will be titled in the name of the DAF sponsor, Charityvest, Inc.
When creating the account, contact your Charityvest relationship manager to ensure you have the proper details on the forms:
Name: Charityvest, Inc.
Address: C/O Foundation Source, 55 Walls Drive, Suite 302, Fairfield, CT 06824
Tax ID: 81-2771871
The account opening forms must be signed by the President of Charityvest, Inc. Your Charityvest relationship manager can assist in getting this form signed.
Opening a new client DAF account? Make sure the account is titled in the name of the DAF sponsoring organization, Charityvest, Inc.
Establishing new Advisor Codes (IP Numbers)
Once the new client accounts have been created, your firm will need to establish at least one entirely new Advisor Code (known as an IP Number at Pershing), which will:
Create a dedicated container for your firm's DAF clients
Maintain complete separation from other client accounts
Provide maximum control over account organization
Your firm will need to create at least one new Advisor Code / IP Number that is specific to your firm's custom DAF program, as our system cannot accommodate Advisor Codes that include account data unrelated to DAF giving (i.e. not titled in the name of the DAF sponsor: Charityvest, Inc.).
Already have an Advisor Code (IP Number)? This new Advisor Code / IP Number should be added to the new client DAF accounts in addition to any of your firm's existing Advisor Codes / IP Numbers.
Looking to separate DAF clients by their advisor? At a minimum, you will need to create one new Advisor Code / IP Number for the aggregate of all Pershing DAF accounts. However, if you wish for further segmentation across your firm's advisors, you have the option to create multiple Advisor Codes / IP Numbers to represent each advisor with a DAF portfolio. Once created, you can assign the appropriate new Advisor Code / IP Number per their managed Pershing DAF account.
Pershing Release of Information (ROI) Authorization
In order to initiate the ROI authorization process for BridgeFT, your team responsible for account opening must send an email to [email protected]. You may also copy your Pershing relationship manager if desired.
This email must request Bridge Financial Technology (Bridge FT) to gain access to the new DAF-specific Advisor Code(s) / IP Number(s). You must include all Advisor Codes / IP Numbers that are associated with the new Pershing DAF accounts.
Before sending the ROI authorization email, contact your Charityvest relationship manager to request the BridgeFT Pershing Transmission Request Form. Charityvest will prepare and provide a completed form to your team. You will need to attach this form to the ROI authorization email below.
Here is the exact format required in the email to [email protected]:
From: Advisor or Firm administrator To: [email protected] CC: [email protected] + your Charityvest relationship manager + (optional) your Pershing relationship manager Subject: Release of Information Authorization for Bridge Financial Technology Hi Pershing Team,
I’d like to initiate an ROI data feed authorization for Bridge Financial Technology to gain access to my accounts data and Advisor Codes via a direct feed integration with BridgeFT. This includes any client and custodian portals that assist in data feed management and also all files that may be referenced as source material for troubleshooting.
My advisor code(s) to include are as follows: [INSERT ADVISOR CODE(S)]. Find attached the completed BridgeFT Pershing Transmission Request Form. Please hit the “Reply All” button and provide confirmation of receipt. For additional information or questions please reach out to [email protected].
Thank you, [Advisor/Admin Name]
Please make sure to CC: [email protected] along with your Charityvest relationship manager on this email to enable us to assist with follow-up. This process should take up to 10 business days, at Pershing's discretion.
Need to authorize multiple Advisor Codes / IP Numbers? You may include multiple Advisor Codes / IP Numbers in a single ROI data request email.
Connect your new external client DAF accounts
Once your firm's Release of Information requests have been processed, the Charityvest support team can assist with mapping the external client DAF accounts to the on-platform client DAF accounts:
Validate and test account balance displays
With the Pershing DAF account mapping process complete, clients can view their entire DAF balance, both on-platform and external, via their account dashboard. Your firm will have access to view individual as well as aggregate account values, all in one place.
Both the Charityvest support team and your firm can verify that the account balance displays are accurate, and report back any issues as needed.
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