WealthTech Today Ep. 268: Digital Transformation in Philanthropy: Foundation Source’s Vision for Connected Giving with Joseph Mrak
Dec 17, 2024
Joseph Mrak, CEO of FoundationSource, shares his insights on the intersection of philanthropy and technology. With a solid background in wealth management and fintech, he discusses how digital tools are transforming charitable giving. The conversation highlights the recent acquisition of VenFi and its innovative features like gift cards for donations. Mrak emphasizes the importance of integrating philanthropy into financial planning, modernizing foundation management, and improving donor engagement through technology.
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Joe Mrak's Career Journey
- Craig Iskowitz and Joe Mrak reminisce about the wealth tech industry's past.
- Mrak's career includes Placemark Investments, Folio Dynamics, Refinitiv, and now FoundationSource.
FoundationSource Overview
- FoundationSource's technology simplifies foundation management, like QuickBooks for philanthropy.
- It automates tasks, calculations, and provides different views for advisors, clients, and enterprises.
Philanthropy and New Business
- Many advisors overlook philanthropy during client onboarding, despite its potential for new business.
- FoundationSource helps advisors connect with clients through philanthropy and win new business.