Full-Time
Platform for Registered Investment Advisors' operations
$203k - $249k/yr
Senior, Expert
Company Historically Provides H1B Sponsorship
San Francisco, CA, USA
Hybrid work schedule for most positions to promote strong, in-person collaboration and a healthy work-life-balance.
Altruist offers a platform for Registered Investment Advisors (RIAs) to streamline their operations and enhance client experiences. Its features include live chat support, commission-free fractional share trading, a model marketplace, and an automated rebalancer, allowing RIAs to serve more clients efficiently. Unlike competitors, Altruist provides these services for free and monetizes through a vertically-integrated custodian service. The company's goal is to empower RIAs to grow their businesses while improving client interactions.
Company Size
501-1,000
Company Stage
Series F
Total Funding
$601.5M
Headquarters
Culver City, California
Founded
2018
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Health Insurance
Dental Insurance
Vision Insurance
401(k) Company Match
Hybrid Work Options
Unlimited Paid Time Off
Paid Parental Leave
Stock Options
Altruist, a US-based custodian platform for registered investment advisors (RIAs), has raised US$152 million in a Series F funding round led by Singapore's sovereign wealth fund GIC.
Altruist, a modern custodian for RIAs, raised $152 million in Series F funding led by GIC, valuing the company at approximately $1.9 billion. Other participants included Salesforce Ventures and Baillie Gifford. The funding follows a year of significant growth, with Altruist launching new products and expanding its executive team. The company now serves over 4,700 advisors and has tripled assets under management for two consecutive years.
Altruist, a custodian and software company for investment advisers, raised $152 million in Series F funding led by GIC, valuing it at $1.9 billion. This follows Robinhood's acquisition of custodian TradePMR for $300 million last year. Altruist was previously valued at $1.5 billion in May 2024. The RIA custody space, dominated by Charles Schwab and Fidelity, is seeing new entrants aiming to capture market share with innovative tech and lower fees.
RIA custodian upstart Altruist this week announced the hiring of Silicon Valley insider Sumanth Sukumar as its chief technology officer.
To establish a hub for engineering innovation and strengthen its technology leadership, Altruist is expanding its presence with an office in San Francisco.