How do I transfer a DAF?

Donor-advised funds (DAF) are a great way to put money aside for charity, but traditional providers often charge high administrative fees. For example, Fidelity charges a minimum of $100 a year or 0.6% of assets, whichever one is higher, in fees that go to the provider instead of the charities that the individual cares about. The fee also increases as the account balance grows. Daffy is a provider of DAF that charges significantly lower fees, starting at $36 a year and offering lower-cost investment options. It is easy to transfer a DAF account to Daffy and the process is free of charge, it can be done by visiting daffy.org and logging into an account. The step-by-step process of transferring a DAF account to Daffy is available on their website. Daffy's goal is to help individuals give more by saving them money on fees, and is designed to increase an individual's impact on the causes and organizations that they care about.

Donor advise funds are a great way to put money aside for charity.

Unfortunately, you're probably paying way too much in hidden administrative fees.

Let's take a donor advise fund provider like Fidelity.

Fidelity charges a minimum of $100 a year for a donor advise fund or 0.6% of assets, whichever one is higher.

Those are fees that are going to Fidelity and not to the charities and causes that you care about.

For example, a $1,000 account at Fidelity will cost you $100 a year versus just $36 a year at Daffy.

And it gets worse the larger your account gets.

A $100,000 donor advise fund at Fidelity will cost you $600 a year versus that same $36 at Daffy.

And that's not all that Fidelity charges.

Fidelity places a lot of very expensive investment options in their donor advise funds, charging an average fee of 0.55% of assets in the account.

At Daffy, our standard portfolios start at just 0.05%.

So that donor advise fund account at Fidelity could be costing you more than $1,000 a year.

But it doesn't have to be this way.

What if I told you that you could pay far less in fees for a donor advise fund and give more of your money to the charities and causes that you believe in? It's actually quite simple.

Move your fund to Daffy.

Most people don't realize that transferring your donor advise fund is free of charge and incredibly easy to do.

Let's look at how to transfer your donor advise fund to Daffy.

The first step is to just go to daffy.org and log into your account.

Select add funds and pick DAF transfer as your option.

Then just tell Daffy which provider you're transferring the money from and enter the amount that you're transferring.

It doesn't have to be the full account balance.

It could be any amount.

Lastly, just head over to your existing donor advise fund platform and make a grant to the Daffy charitable fund.

The good news is we're already listed on all of the existing and unfortunately expensive donor advise fund platforms out there.

And that's it.

Depending on your existing provider, unfortunately it can take seven to 10 days for them to deliver the funds to us.

But we will send you an email right away as soon as we have the funds and deposit them into the portfolio of your choice.

Daffy is designed to help you give more.

Saving you money on fees is just one of the ways that we help you give more to the causes and the organizations that you care most about.

Come join us.

Please note that the information contained on this page is for educational purposes only and should not be considered tax advice. Any calculations are intended to be illustrative and do not reflect all of the potential complexities of individual tax returns. To assess your specific tax situation, please consult with a tax professional.