An IOOF subsidiary entered into a historic partnership with one of the world's leading global private foundations, which has been in operation for more than a century.
Australian Executor Trustees (AET), part of the IOOF group, will collaborate with Rockefeller Philanthropy Advisors (RPA), the philanthropic organisation that traces its roots to John D. Rockefeller Sr's 1891 decision to manage his philanthropy like a business.
The partnership will enable AET to develop enhanced and improved giving strategies for clients, using the expertise that RPA has developed while overseeing more than $3.8 billion in grants worldwide to date.
"We are delighted to be partnering with such an esteemed philanthropic institution as Rockefeller Philanthropy Advisors. The strategic alliance will support donors, and their advisers, in designing philanthropic strategies that are comprehensive and effective, through leveraging RPA's global expertise, granting advice framework and reference tools," AET general manager, trustee services Gary Riordan said.
RPA chief executive Melissa Berman added: "This is a win-win relationship that will further enhance the support AET provides to philanthropists and their advisers."
"Both RPA and AET are united by our common vision to help clients make lasting and effective contributions to charitable programs, projects or organisations that resonate with them," Berman said.
AET currently has about $32 billion in funds under supervision and provides estate and trustee services for private clients, superannuation funds and corporate trusts.