Overview

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, which help RIAs 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 and innovation potential.
• Partnerships with Orion and Kwanti enhance Altruist's platform integration and service offerings.
• Increased demand for digital transformation in financial services aligns with Altruist's tech solutions.

What critics are saying

• Competition from firms like Betterment and Wealthfront pressures Altruist to innovate continuously.
• Integration with Orion and Kwanti may pose operational risks if not seamless.
• New digital fixed-income trading could attract regulatory scrutiny if compliance is lacking.

What makes Truist unique

• Altruist offers a simplified tech stack for RIAs, enhancing operational efficiency.
• The platform includes commission-free trading and an automated rebalancer for cost-effective solutions.
• Altruist's model marketplace provides personalized investment strategies, catering to diverse client needs.

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Funding

Total Funding

$437.2M

Above

Industry Average

Funded Over

5 Rounds

Notable Investors:

Insight Partners

Notable Investors:

Insight Partners

$169,000,000

Series E

May 2024

Series E funding typically includes additional rounds after Series D if the company needs more capital. The business is usually stable, and these rounds are typically used for further expansion or to address market challenges.

Series E Funding Comparison

Above Average

Industry standards

Ind Avg. $100M

$30M

$169M

$245M

$250M

$1250M

$1500M

View all funding stages