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Wednesday, January 23 , 2019, 1:48 am | Fair 42º


VIDA Wealth Partners Launches Economic Recovery Program for Charities

Asset management fees are waived for eligible 501(c)3 charities and select endowments

VIDA Wealth Partners has announced the launch of its VIDA Community Impact Service, said Rich Schuette, a principal with the Santa Barbara-based consultative wealth management firm.

The program waives 100 percent of the firm’s asset management fees for eligible 501(c)3 charities and select endowments to help the organizations facilitate a quicker recovery from the recent economic downturn.

“In this economy, not only are charities seeing their donations decline, but their assets have also significantly decreased due to market conditions, as well as other factors,” said Schuette, who has served on multiple charitable boards and investment committees. “Given the fact that every dollar a charity gives compounds into a deep impact on our community, VIDA Wealth Partners feels that waiving our fees can simply and clearly add 1 to 1.5 percent to the bottom line for these organizations. That often equates to half of what a charity uses from these funds annually.”

Matthew Lum, Schuette’s partner, added: “This is about making a heartfelt and substantial difference in our community. It’s a perfect way of taking the meaningful relationships and consultative process that we have with our individual clients and extending the care and stewardship deeper into the community.”

To qualify for this program, charities must meet certain guidelines and criteria. Please direct inquiries to Schuette at VIDA Wealth Partners at 805.962.8455 or .(JavaScript must be enabled to view this email address).

— Jennifer Goddard is a publicist.


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