Los Angeles-based fintech Altruist is planning to release a model portfolio suite that includes direct indexing. The company, which provides portfolio solutions to advisers, said the new suite will enable advisers to access direct indexing with as little as $2,000.
The new offering, Altruist Strategist Suite (Strategist), is planned for release sometime before the end of June. It will be the second Altruist-generated model portfolio suite in its model marketplace and the first to include direct indexing, the company said in a release.
Altruist’s model marketplace features portfolios from third-party asset managers, a set of free models known as the Altruist Simplicity series, and the new Strategist series.
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Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
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