Full-Time

Director of Trading

Execution Services

Confirmed live in the last 24 hours

Altruist

Altruist

501-1,000 employees

Platform for Registered Investment Advisors' operations

Fintech
Financial Services

Senior, Expert

Dallas, TX, USA

In-person position based in Dallas, requires up to 25% travel.

Category
Quantitative Trading
Quantitative Finance
Requirements
  • 10+ years in trading or execution services within financial services, especially in Equities, ETFs, Fixed Income, and Options, with at least 5 years of management experience.
  • Active FINRA Series 4, 7, 24, 57 (or commitment to obtaining within six months).
  • Strong proficiency in financial modeling, trading technology, and API/FIX protocols.
  • Resourceful and resilient, with strategic thinking, strong analytical abilities, and a data-driven approach to problem-solving.
  • Exceptional interpersonal skills, with a talent for building strong relationships across technical and non-technical teams.
  • Experience with digital asset platforms, additional industry certifications, and expertise in emerging trading technologies.
Responsibilities
  • Drive growth and scalability in trading operations, leading strategic planning, setting objectives, and shaping execution strategies.
  • Build and maintain relationships with market makers, exchanges, and dealers, ensuring high-quality execution services and alignment with business goals.
  • Oversee processes to meet regulatory requirements, including SEC 606 and 607 reporting, and continuously monitor performance against industry benchmarks.
  • Develop and oversee financial models and projections for trading P&L to optimize profitability and operational efficiency.
  • Work closely with product, engineering, legal, compliance, operations, and risk teams to ensure alignment with regulatory standards and trading policies.
  • Identify and implement technology enhancements to improve execution efficiency, transparency, and regulatory compliance.
  • Serve as an advisor on best practices for Trade Desk Operations, focusing on designing scalable solutions and enhancing operational efficiency. Stay ahead of market structure, trading execution trends, and regulatory developments to guide strategic decision-making and ensure industry-leading performance.

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 lowering costs, 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, aiming to build a large user base, and generates revenue 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

$437.2M

Headquarters

Culver City, California

Founded

N/A

Growth & Insights
Headcount

6 month growth

24%

1 year growth

38%

2 year growth

74%
Simplify Jobs

Simplify's Take

What believers are saying

  • The recent $169M Series E funding round indicates strong investor confidence and provides Altruist with significant capital to expand its offerings and market reach.
  • Partnerships with leading providers like Orion Advisor Solutions and Kwanti enhance Altruist's platform capabilities, making it more attractive to RIAs.
  • The addition of digital fixed-income trading broadens Altruist's service offerings, potentially attracting a wider range of clients.

What critics are saying

  • Competing against established giants like Schwab and Fidelity in the $128 trillion RIA market poses significant challenges for Altruist.
  • The reliance on a free service model may pressure Altruist's revenue generation if the vertically-integrated custodian service does not scale as expected.

What makes Altruist unique

  • Altruist's platform offers a unique combination of commission-free trading, automated rebalancing, and a model marketplace, setting it apart from traditional RIA platforms.
  • The company's vertically-integrated custodian service provides a seamless experience for RIAs, reducing overhead costs and enhancing operational efficiency.
  • Altruist's strategy of offering services for free to attract a large user base is a bold move in the financial services market, differentiating it from competitors who charge for similar services.

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