If you want specialist and bespoke advice on philanthropy from your main wealth adviser, Bank of America Private Bank is an obvious place to go in North America. It is the region’s best for philanthropic advisory this year. Its in-house philanthropic strategy team offers both breadth and depth of experience. The service is also provided to its clients with no additional fees.
Team members in the division have an average of more than 25 years of experience working with philanthropists and the nonprofits they support. Across the US, it maintains relationships with more than 1,300 clients with assets of at least $10 million, at the end of September 2024, up from 1,200 a year earlier.
Through trusts that it administers, Bank of America Private Bank is one of the largest grant-makers to the nonprofit sector, distributing around $600 million annually. Its foundation and endowment team includes 186 specialists serving clients with over $79 billion in outsourced chief investment office (OCIO)assets.