Opening an SMA for your BlueGive DAF
This article provides a step-by-step guide on how to open a separately managed account for your BlueGive donor advised fund.
Step 1: Invite Your Client to Join BlueGive
To get started with opening a BlueGive SMA, ensure the the client has completed the set up of their BlueGive account. Follow these steps to complete the account set up.
Step 2: Notify the BlueTrust & BlueGive Teams
Once your client's BlueGive account is live, contact Joni White (joni.white@bluetrust.com) and the BlueGive Support Team (care@bluegive.org) via email to notify them of the request to open a new BlueGive SMA account, using the subject line "New BlueGive SMA Request".
Step 3: Complete the Paperwork
Once the request is received, Joni and the BlueGive team will respond and ask for the following items to be completed by the advisor:
Schedule 1 details for the SMA, which requests account details for review and archival as stated in the GiveClear-BlueTrust Master Agreement. Below is an example of the details you'll be asked to provide:
A new account checklist (which can be found on the BlueTrust intranet site), detailing internal set up processes that includes CRM steps as well as instructions for the new account process and paperwork.
An internal BlueTrust IPS document which is required to be completed and signed by the requesting advisor and returned to Joni and the BlueGive team for additional signatures.
Funding a BlueGive SMA
Following the completion of the steps above, the BlueGive Support Team will notify the advisor and client confirming that the newly established SMA account is ready to be funded.
To fund an SMA account on BlueGive, a client or advisor/team member will login to the client's account and select Add Funds located on the Overview Page:
From there, you will be provided the option to transfer funds in several ways:
Add Cash Using Connected Bank Account
Add Cash Using Credit Card (client only)
Add Cash Via Wire Transfer
Add Public Securities
External Fund Transfer
When transferring external funds, please be sure to complete both steps 1 and 2 of the transfer instructions provided.
For External DAF Transfers, the delivery instructions will updated to display the recently opened SMA/IMA account number.
BlueGive accepts in-kind DAF-to-DAF security transfers so long as the client's external DAF provider will agree to transfer the securities in-kind.
How do I transfer money from my SMA to my BlueGive DAF?
Click on Invest on the homepage > click on Request Transfer in the top right
Switch the Transfer From to "Investments" and the Transfer To to "U.S Treasuries and Cash" > Enter the transfer amount & click Confirm
As a best practice, we suggest having at least 3 months worth of giving funds available in your DAF balance.
This step can be completed by either the client or an advisor. Once the transfer request is completed, it will take 3-5 days for the funds to be available in the client's BlueGive DAF.