Altruist has added donor-advised funds to its custody platform, letting advisors set up and manage client charitable accounts in the same system they already use for investment accounts. WealthManagement.com and InvestmentNews both reported the launch on October 6, 2026.
According to WealthManagement.com, advisors can open, fund, invest and manage the accounts in minutes without moving to a separate system. The same outlet reported that the product carries no minimums for account opening, balances or grants.
On pricing, WealthManagement.com reported that fees start at 50 basis points a year. It put that below the 60 to 65 basis points it described as typical among other donor-advised fund sponsors. InvestmentNews likewise framed the offering as undercutting typical DAF fees.
The accounts are sponsored by Endaoment, according to WealthManagement.com. Endaoment is a 501(c)(3) public charity, and it is the legal owner of the DAF assets and the customer of record on each account. That is the standard arrangement for donor-advised funds: the sponsor holds the assets, and donors and advisors recommend how they are invested and granted.
Investment flexibility is a selling point. WealthManagement.com reported that most DAF platforms limit investment choices to a fixed menu, while assets in Altruist's DAFs can go into any model in its marketplace, including custom portfolios and personalized indexing strategies. For an advisor, that could mean charitable assets run under the same models as the rest of a client's wealth.
Clients also get a direct role. WealthManagement.com reported that they can recommend grants from their Altruist account or mobile app, choosing from more than 1.8 million eligible charities, without waiting for the advisor to start the transaction. WealthTech Strategy quoted founder and CEO Jason Wenk saying the company wants donor-advised funds to be easy to navigate and access because giving is among the most personal things a client does with an advisor.
Altruist is a Culver City, California, custodian for independent RIAs, founded in 2018 by Wenk, according to Wikipedia. The same source says it served nearly 5,000 RIA firms as of 2025 and ranked as the third-largest custodian in the U.S. by number of advisors served. WealthManagement.com also reported that Altruist agreed in late August 2026 to be acquired by Vanguard for $4.6 billion.
Endaoment describes itself as a 501(c)(3) community foundation and DAF-as-a-Service platform with $0 minimums, according to its website. Its materials say it accepts a wide range of assets, including through the Ethereum blockchain. BNY Pershing's site separately lists Endaoment as a national DAF sponsor that lets advisors manage client charitable assets with custody at Pershing.
Market context comes from Endaoment's documentation, which says more than $120 billion has gone into nearly 750,000 U.S. DAFs since 2019. It says DAFs account for over 12% of total individual giving. InvestmentNews noted that incumbent platforms have posted record giving.