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.
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.
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".
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 or vice-versa?
To transfer funds to and from an SMA or BlueGive DAF, click on the Invest page > click on Request Transfer in the top right corner.
Switch the Transfer From to Investments & Transfer To to Cash & Cash Equivalents > Enter the transfer amount & click Confirm:
To transfer cash from the BlueGive DAF to the SMA, you would do the opposite of the steps above (Transfer from would be Cash & Cash Equivalents > Transfer To would be Investments).
Transferring funds can be completed by either the client or an advisor. Once the transfer request is complete, it will take 3-5 business days for the funds to be available on your BlueGive DAF.
Changing the Target Allocation for your SMA
To change or update the target allocation for your SMA, please contact the BlueGive Support team at care@bluegive.org and provide the following details:
DAF Name
Updated Target allocation, for example: 50% cash and 50% investments
Once the allocation has been updated, any future contributions will be allocated based on the target allocation. For example, if the allocation is 50/50 and you contribute $1,000 then $500 will go to the cash pool and $500 will go toward the SMA investments.
Note: changing the target allocation has no affect on the current allocation. You will need to submit a transfer request if you want the current allocation to align with your target allocation.
As a best practice, we suggest maintaining at least 3 months worth of giving finds in your DAF balance.