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Portfolio Solutions® Launches Charitable Giving Program Assistance

Portfolio Solutions®, a provider of integrated wealth planning and investment management services for more than 600 clients1, announced today the launch of a new donor-advised fund program to help their clients with charitable giving and financial goals. With the new program, Portfolio Solutions® can facilitate the opening and management of a donor-advised fund account with Schwab Charitable™, an independent nonprofit organization2.

A donor-advised fund account allows investors to contribute cash or other assets to a charitable account to realize potential tax benefits3 and then support their favorite charities over time. The minimum contribution is $5,000. However, with an account size of $250,000 or more clients can designate Portfolio Solutions® to manage their donor-advised fund account using index investing strategies to lower their costs. Keeping investing costs low increases potential funds available for donation to charities. Portfolio Solutions® also simplifies the administrative burden associated with giving by assisting with account paperwork, transfer completion activities, and even grant processing if clients wish.

Donor-advised funds enable investors to transfer a wide range of assets beyond cash, including stocks and mutual fund shares. Donations of illiquid assets such real estate, artwork, collectibles and the like are also possible3. Investors can receive a tax break immediately in the year of donation, invest proceeds from assets that are donated for tax-free potential growth over time, and donate to charitable organizations in the amounts and time-periods they choose4.

“Our program allows us to provide clients with a structured approach that meets their charitable and giving objectives and is easy to implement,” said John Bergmann, President, Portfolio Solutions®. “Our clients want to be connected to their philanthropy, and we help by opening and managing donor-advised fund accounts that can produce social and financial returns while using index investing strategies which are already familiar to them.”

“We’re committed to helping our clients simplify their charitable giving needs as part of their overall financial planning,” stated James S. Gladney, Chairman & Chief Executive Officer, Portfolio Solutions®. “We can deepen client relationships by connecting them with our wealth planning experience and help them toward achieving their charitable goals. I have personally used these donor-advised fund accounts with Schwab Charitable™ to help charities that are important to my family, which led me and our team to create this service enhancement for our clients.”

Once a donor-advised fund account is established, clients can easily donate by recommending grants to the qualified charities they care about in minimum amounts of $50 up to the entire account balance. This process can be done online, using a mobile app, or by completing paper forms using traditional mail or fax methods. Qualified charities are notified with personalized letterhead or clients may remain anonymous at their option.

Portfolio Solutions’® charitable giving program assistance reinforces the firm’s commitment to serving others through its Servant Leadership philosophy and to improving investor education. Portfolio Solutions® will host a webinar in the coming weeks to highlight benefits of charitable giving and explain the firm’s personalized approach to advising investors so they can establish and manage donor-adviser fund accounts to help fulfill their charitable goals.

About Portfolio Solutions®

Portfolio Solutions® has been offering investors financial solutions since 1999. We provide integrated wealth planning and investment management services so that our clients can work confidently toward their long-term financial goals. We have a long-standing and enduring commitment to index investing strategies, with more than $1.5 billion1 in client investment assets under management. For more information, visit https://portfoliosolutions.com/ and follow us on LinkedIn and Twitter

1 As of November 6, 2017

2 Portfolio Solutions® is not affiliated with Schwab Charitable or the Charles Schwab Corporation. Schwab Charitable is the name used for the combined programs and services of Schwab Charitable Fund, an independent nonprofit organization. Schwab Charitable Fund has entered into service agreements with certain affiliates of The Charles Schwab Corporation. Schwab Charitable Fund™ is recognized as a tax-exempt public charity as described in Sections 501(c)(3), 509(a)(1), and 170(b)(1)(A)(vi) of the Internal Revenue Code. Contributions made to Schwab Charitable Fund are considered an irrevocable gift and are not refundable. Please be aware that Schwab Charitable has exclusive legal control over the assets contributed. Although every effort has been made to ensure that the information provided is correct, Schwab Charitable cannot guarantee its accuracy. This information is not provided to the IRS.

3 Schwab Charitable accepts illiquid assets for contribution on a case by case basis.

4 Portfolio Solutions® and Schwab Charitable do not provide specific individualized legal or tax advice. A donor’s ability to claim itemized deductions is subject to a variety of limitations depending on the donor’s specific tax situation. Please consult a qualified legal or tax advisor where such advice is necessary or appropriate.

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