UBS Adds Solution for Private Foundation Administration

UBS has joined with Foundation Source, a provider of support services for private foundations, to provide customized private foundation services for UBS clients.

UBS clients will gain access to Foundation Source’s suite of customized private foundation services, which aims to keep private foundations running smoothly and in compliance, according to a press release. In addition, the online tools used by UBS clients for managing day-to-day foundation activities will be customized to reflect the UBS brand.

In the past several years, we have witnessed a dramatic emergence of strategic philanthropy as a core competency of the successful private wealth offering,” said Daniel Schley, Foundation Source Executive Chairman, in the release. “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.”