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Wealthtech startup Altruist ascends to $1.5B valuation
The LA-based fintech challenging goliaths Schwab and Fidelity secures new fundraising after its revenue quintupled in 2023.
Altruist launches high-yield cash product for advisors
The new product arrives as saving rates and returns are subdued.
Altruist helps advisors connect their tech with several powerful new integrations
The aim is to make critical workflows simpler and streamlined.
Another new custodian enters the RIA market
Innovayte is targeting RIAs with $100 million to $800 million in assets and will be led by Catherine “Cat” Davies, a clearing and custody industry veteran.
Altruist eliminates software fees for RIAs
Advisors who custody exclusively with Altruist will receive free software, while firms that work other custodians will get the first 100 accounts for free.
Altruist vs. Altruist: An RIA claims digital custodian violates his trademark
Michigan RIA owner says case is a 'true David and Goliath situation' and that company name has caused significant confusion in the market.
Ex-Vanguard CEO joins venture capital firm to guide investments in advisor fintech
McNabb believes there is still lots of opportunity for technology to help advisors become more efficient and serve clients better.
Altruist names former Pixar, Blend exec as new CFO
Marc Greenberg most recently worked at Blend, a white-label fintech that banks use to build consumer-facing digital products.
The latest in financial #AdvisorTech — April 2023
This month's highlights includes Altruist's purchase of Shareholders Service Group, BlackRock's closing of the retail arm of robo FutureAdvisor and Absolute Engagement's launch of an engagement tool.
Altruist raises $112 million to challenge Schwab, Fidelity
The Los Angeles-based custodian's latest funding round was led by Insight Partners and Adam Street Partners.
Custody newbie Altruist claims No. 3 spot with SSG acquisition
In less than two weeks, Altruist's custody business grows from zero to more than 3,000 RIA clients, with only Schwab and Fidelity having more RIA relationships.
Altruist hopes its fintech muscle helps it compete against custodial giants
The three-year-old fintech platform brings its custody and clearing business in-house for what it promises will be a fully integrated digital experience for RIAs.
Altruist to launch direct indexing model portfolio
Fintech sets $2,000 minimum for new offering, Altruist Strategist Suite, which will bow by June.
Riskalyze, Altruist integrate platforms
Advisers now have access to risk assessment and portfolio analytic tools.
The latest in financial #AdviserTech — September 2021
This month's #AdviserTech roundup includes Riskalyze’s recapitalization, RightCapital’s launch of retirement decumulation tools, Veriti’s crossing $1 billion of AUM, and American Express partnering with BodesWell to return to the financial planning business 16 years after spinning off Ameriprise.
What the $50 million Altruist funding means for RIA custodians
With a new funding round and support from the asset management giant Vanguard, Altruist increases its potential to break up the RIA custodial oligopoly.
