The board of trustees for the Fidelity Charitable Gift Fund has voted to lower the minimum asset requirement for its Charitable Investment Advisor Program (CIAP) to $250,000 from $1 million.
The CIAP, established in 2006, allows investment advisers to develop and implement investment strategies for the donors Giving Account at the Gift Fund as long the donors meet the minimum asset requirements. By lowering the minimum asset requirement, the board of trustees has made CIAP accessible to more donors.
Many of our high-net-worth donors rely on investment advisers for assistance with their financial planning, said Sarah C. Libbey, president of the Fidelity Charitable Gift Fund. Charitable giving is a key component of these plans, especially among those looking to establish a family legacy of philanthropy.
The Gift Fund offers advisors access to a wide variety of investment options, including publicly traded U.S. equity and fixed-income securities, Fidelity and non-Fidelity mutual funds, and ETFs. Qualified advisers are not required to have an existing relationship with Fidelity.