Bank of Singapore has unveiled its Legacy of Giving platform, a pioneering initiative that provides clients access to a bespoke donor-advised fund (DAF) through partnerships with the Community Foundation of Singapore (CFS) and TT Foundation Advisers (TTFA). This marks the first collaboration of its kind in Singapore between a private bank and independent philanthropic organisations, allowing clients to tailor their investment strategies for charitable purposes.
The bespoke DAF arrangement is a significant departure from traditional models, which typically restrict high- and ultra-high net-worth individuals to pre-set investment solutions. Instead, clients can now actively shape their fund’s investment approach, potentially enhancing their assets for charitable giving. This innovative platform is expected to meet the rising demand for DAFs in Singapore, which are projected to increase fivefold between 2025 and 2030, according to a report by the Wealth Management Institute.
Jason Moo, CEO of Bank of Singapore, highlighted the growing trend of wealth accumulation in Asia and the corresponding desire to create lasting impact through philanthropy. “Our Legacy of Giving platform offers a professionally managed avenue for clients to achieve meaningful impact, supported by the expertise of CFS and TTFA,” he stated.
Paul Tan, CEO of CFS, emphasised the foundation’s role in providing deep knowledge of the local charity ecosystem, enabling informed giving decisions. Meanwhile, Dickson Lim, Head of TTFA, noted the partnership’s potential to unlock greater impact through strategic philanthropy advisory services.
This platform not only caters to those seeking bespoke solutions but also offers straightforward structures for clients preferring pre-approved portfolios or grant-making DAFs without investment components. As more wealthy families embrace philanthropy, the Legacy of Giving platform positions Bank of Singapore as a leader in facilitating impactful charitable contributions.
