Advisors in Philanthropy, or AiP, is a network of advisors who have a focus on providing their clients with customized philanthropic planning.

The partnership will be announced today at AiP’s Conference on Philanthropy in Las Vegas, NV.

The terms of the agreement will see members of AiP accessing Foundation Source’s resources in the form of a turnkey solution for clients’ philanthropic planning via foundations. Foundation Source will act as a “virtual private foundation services team,” to advisors and their clients, the organization said.

This will include preferential pricing on services such as setting up a foundation, as well as educational webinars and online tutorials on private foundations, one-on-one education sessions with senior executives at Foundation Source, and access to experts on the tax and legal issues around private foundations.

King McGlaughon, Foundation Source’s chief executive, said that advisors are often aware of the benefits of foundations to high net worth clients but lack the resources and expertise to provide a service to set up and manage these entities. The alliance, he said, would enable advisors to compete with many of the largest institutions in the US when it comes to providing these services to wealthy clients.

In this sense, it ties in with a movement of outsourcing in the industry, where many service providers are developing competitive platforms that allow smaller, independent firms to better compete with larger counterparts without the same internal infrastructure and resources.

“The strategic alliance with Foundation Source provides AiP advisors with preferential access to a powerful suite of tools and services that will enable them to fully support clients who are thinking of starting or already have their own private foundations,” said Enzo Calamo, co-president of the AiP board of directors.

Foundation Source works with over 1,100 private foundations, ranging in size from $250,000 to over $500 million.