About

Truist offers a platform for Registered Investment Advisors (RIAs) to improve their operations and client services. Its features include live chat support, commission-free fractional share trading, a model marketplace, and an automated rebalancer, allowing RIAs to manage their businesses more efficiently and serve more clients at lower costs. Unlike competitors, Truist provides these services for free, monetizing through a vertically-integrated custodian service that reduces overhead costs for RIAs. The company's goal is to empower RIAs to grow their businesses and enhance client experiences.

Simplify's Take

What believers are saying

• Altruist raised $169M in Series E funding, boosting growth potential.
• Partnerships with Orion and Kwanti enhance platform capabilities and market reach.
• Increased demand for digital financial services aligns with Altruist's offerings.

What critics are saying

• Competition from Betterment and Wealthfront could erode Altruist's market share.
• Rapid tech advancements may strain Altruist's resources if not managed well.
• Integration with third-party providers may lead to data security vulnerabilities.

What makes Truist unique

• Altruist offers a simplified tech stack for RIAs, enhancing operational efficiency.
• The platform includes commission-free fractional share trading and automated rebalancing.
• Altruist provides original content, offering actionable insights for independent financial advisors.

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