Wealth technology startup Altruist has unveiled a fully digital fixed-income trading platform, designed to streamline bond trading for RIAs.
The firm, which bills itself as the modern custodian for independent RIAs, says its new product aims to address longstanding inefficiencies in fixed-income trading.
"Technology has propelled the financial advice industry forward, yet fixed income trading has lagged behind," Harpreet Ahluwalia, chief product officer at Altruist, said in a statement unveiling the platform. "When you make it easier for advisors to navigate the bond market, clients benefit from more predictable cash flows and deeper portfolio personalization."
Altruist says the fixed-income trading platform offers several key features, including a modern screener that provides real-time bond pricing and inventory. Advisors can filter results by categories such as US Treasuries, corporate bonds, municipal bonds, certificates of deposit, and government agency securities. The platform also improves data transparency by offering comprehensive reference data and historical yield and pricing information, saving advisors time during the research process.
In addition to enhanced data, the new system incorporates a one-click trading feature. This functionality allows advisors to create orders and execute trades with ease, while an automated smart-order routing system helps minimize transaction costs.
"Advisors should be able to screen and discover bonds, view data to understand their impact, then execute the buy in one click—all at low transaction costs," said Dylan Parker, CEO of Moment, Altruist’s infrastructure partner.
Altruist made headlines in May by raising $169 million in a Series E funding round. This capital infusion from a consortium of investors led by Iconiq Growth lifted the company’s valuation to over $1.5 billion, officially elevating it to unicorn status. The round also included new investments from Granite Capital Management and continued support from existing backers.
In the wake of that investment, the firm said it would introduce a series of expansions to its products and service offerings, including a 5.10% APY Altruist Cash account it first announced in April. In June, the firm introduced TaxIQ, a suite of tools designed to help advisors bolster after-tax returns for clients.
The firm says its latest fixed-income trading platform launch aligns with its "Simply Better Pricing" initiative, which offers competitive fees for advisors using its trading system. The challenger fintech platform looking to muscle into the turf held by the likes of Fidelity and Schwab, Altruist says over 4,000 advisors have chosen its platform to help grow their business.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
