About

Altruist provides a platform designed for Registered Investment Advisors (RIAs) to improve their operations and client interactions. The platform includes a range of tools such as live chat support, commission-free fractional share trading, a model marketplace, and an automated rebalancer, all aimed at helping RIAs manage their businesses more effectively. This allows them to serve more clients while keeping costs low, which can enhance their profit margins. Altruist also features a quick onboarding process and offers valuable investment management information along with original content tailored for independent financial advisors. Unlike many competitors, Altruist offers its services for free to attract a large user base, monetizing instead through a vertically-integrated custodian service that helps RIAs reduce operational costs. The goal of Altruist is to empower RIAs to grow their businesses and enhance the experience they provide to their clients.

Simplify's Take

What believers are saying

• Altruist raised $169M in Series E funding, boosting its growth potential.
• The addition of digital fixed-income trading expands Altruist's service offerings.
• Partnerships with Orion and Kwanti enhance Altruist's wealth management solutions.

What critics are saying

• Competition from firms like Betterment and Wealthfront pressures Altruist to innovate continuously.
• Rapid tech advancements may increase Altruist's operational costs and resource allocation.
• Altruist's free service model may face sustainability challenges if user growth lags.

What makes Altruist unique

• Altruist offers a simplified tech stack for RIAs, enhancing operational efficiency.
• The platform includes commission-free fractional share trading, reducing costs for RIAs.
• Altruist's vertically-integrated custodian service streamlines operations and reduces overhead costs.

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