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Internship

Business Intelligence Apprentice

Posted on 7/22/2024

Altruist

Altruist

501-1,000 employees

Platform for Registered Investment Advisors' operations

Consulting
Fintech
Financial Services

Compensation Overview

$70k - $95kAnnually

+ Stock Options

Los Angeles, CA, USA

Category
Business Research
Business & Strategy
Required Skills
Power BI
Communications
SQL
Tableau
Business Analytics
Data Analysis
Requirements
  • Pursuing a bachelor's degree in finance, economics, business analytics, or a related field.
  • Strong analytical and problem-solving skills.
  • Proficiency in Microsoft Office suite, especially Excel.
  • Familiarity with BI tools such as Tableau, Power BI, or QlikView.
  • Knowledge of SQL and database management.
  • Excellent communication skills to present complex data in an understandable format.
  • Attention to detail and ability to work in a fast-paced environment.
Responsibilities
  • Data analysis and reporting: Assist in consolidating, interpreting, and presenting data in reports and dashboards for executives, team leads, and end users.
  • Database management: Work with database systems to extract, transform, and load data for analysis.
  • Data visualization: Create clear and informative visual representations of Altruist data using BI tools.
  • Process improvement: Identify opportunities to enhance data collection, analysis, and reporting processes.
  • Collaboration: Work closely with cross-functional teams to understand business needs and provide data-driven solutions.

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.

Company Stage

Series E

Total Funding

$449.5M

Headquarters

Culver City, California

Founded

2018

Growth & Insights
Headcount

6 month growth

6%

1 year growth

21%

2 year growth

46%
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Simplify's Take

What believers are saying

  • The recent $169M Series E funding round indicates strong investor confidence and provides substantial capital for growth and innovation.
  • Collaborations with leading providers like Orion Advisor Solutions and Kwanti enhance Altruist's platform capabilities, making it more attractive to RIAs.
  • Acquiring Shareholders Service Group expands Altruist's service offerings and client base, positioning it to compete with industry giants like Schwab and Fidelity.

What critics are saying

  • The competitive landscape in the RIA market includes established players like Schwab and Fidelity, which could limit Altruist's market penetration.
  • Rapid expansion and integration of new acquisitions may lead to operational challenges and potential service disruptions.

What makes Altruist unique

  • Altruist offers a simplified tech stack specifically designed for RIAs, unlike broader financial platforms that cater to multiple financial service providers.
  • Their commission-free fractional share trading and automated rebalancer features provide cost-effective solutions that are not commonly bundled together in competing platforms.
  • The vertically-integrated custodian service allows Altruist to streamline operations and reduce overhead costs for RIAs, setting it apart from traditional custodial services.
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