Full-Time
Platform for Registered Investment Advisors' operations
No salary listed
Junior, Mid
Nashville, TN, USA
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Truist provides a platform designed for Registered Investment Advisors (RIAs) to enhance 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. By using these features, RIAs can serve more clients at a lower cost, which can lead to improved profit margins. Truist also emphasizes a quick onboarding process and offers immediate access to essential investment management information, along with original content that provides valuable insights for independent financial advisors. Unlike many competitors, Truist 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 Truist is to empower RIAs to grow their businesses and enhance the overall client experience.
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
Life Insurance
Disability Insurance
Health Savings Account/Flexible Spending Account
Unlimited Paid Time Off
Paid Vacation
Paid Sick Leave
Paid Holidays
Hybrid Work Options
401(k) Retirement Plan
401(k) Company Match
Company Equity
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.