Product Management Intern
About the job
- At least one previous Product Management Internships or Software Engineering Internship, preferably at a startup and/or a FinTech company.
- Ideally looking for a B.A. / B.S. degree in relevant fields such as Computer Science, Applied Mathematics, or similar.
- You’re technologically savvy and can easily get up to speed on modern technology.
- The pride you put into every aspect of your work is unparalleled and undeniable.
- Intentional dialogue is a superpower. You listen as well as you share your perspective with others.
- We’re inspired by your unwavering determination to achieve success, no matter the adversity you face along the way.
- Your confidence is brilliant, yet ego-less. You possess a strong knowledge base, the ability to discover the unknown, and are open to differing perspectives.
- Identifying the problem is simply not enough. You’re instinctually creative with your approach in finding solutions to roadblocks.
- Assist in defining and refining the product vision, roadmap, and strategy for trading, portfolio management, and rebalancing features.
- Work closely with product managers to conduct market research, gather user feedback, and identify opportunities for improvement and innovation.
- Collaborate with the engineering and design teams to ensure successful product development, testing, and deployment.
- Support product launch activities, including user documentation, training materials, and client communication.
- Analyze data and user behavior to assess the impact of new product features and identify areas for further optimization.
- Assist in creating detailed product requirement documents (PRDs) and user stories to guide the development process.
- Participate in agile ceremonies such as sprint planning, daily stand-ups, and retrospectives.
- Provide support in user acceptance testing (UAT) and help ensure product quality and reliability.
- Basic understanding of financial markets, investment products, and custodial services is a plus.
- Strong attention to detail, with a focus on user experience and product quality.
- Experience in data analysis using tools such as Excel, SQL, or Python is an advantage.
About the company
Altruist builds a tech platform for Registered Investment Advisors (RIAs) to run their practice more efficiently. Its core tools include a streamlined tech stack with live chat support, commission-free fractional share trading, a model marketplace, and an automated rebalancer, helping RIAs serve more clients at lower costs. The platform also offers fast onboarding and quick access to investment management information, plus original content for independent advisors. Altruist’s business model offers its services for free to attract a large RIA user base and then monetizes through a vertically-integrated custodian service that reduces overhead for RIAs. The company differentiates itself by combining a free, easy-to-use software suite with integrated custodial services and practical resources, focused specifically on the needs of RIAs. Its goal is to help RIAs grow their business, improve client experiences, and lower operating costs by providing a centralized, cost-effective platform.
Company Size
201-500
Company Stage
Series F
Total Funding
$601.5M
Headquarters
Culver City, California
Founded
2018
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Simplify's Take
What believers are saying
- Vanguard said the deal closes later in 2026, validating Altruist’s platform.
- InvestmentNews reported June 17, 2026 growth at roughly 140% of target.
- September 10, 2026 Arca chose Altruist as preferred custodian, expanding API demand.
What critics are saying
- Regulators can block the Vanguard acquisition, killing Altruist’s standalone exit path.
- Schwab and Fidelity still dominate custody, squeezing pricing and advisor switching.
- Altruist cut about 50 employees in October 2025, showing profitability pressure.
What makes Altruist unique
- Altruist’s August 2026 Vanguard acquisition gives it permanent scale and distribution.
- Its self-clearing custody plus software stack bundles trading, billing, reporting, and AI.
- Arca became the first firm using Altruist’s Realtime Custodial API on September 10, 2026.
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Benefits
Health Insurance
Dental Insurance
Vision Insurance
401(k) Company Match
Hybrid Work Options
Unlimited Paid Time Off
Paid Parental Leave
Stock Options
Growth & Insights and Company News
6 month growth
↑ 100%1 year growth
↑ 99%2 year growth
↑ 110%Q&A: State Street goes live with custody offering. 3 hours ago Britton, D. (2026, September 17). Q&A: State Street goes live with custody offering. WealthManagement.com. https://www.wealthmanagement.com/ria-news/state-street-launches-new-ria-custody-business * State Street went live this week with State Street Wealth Services, a new RIA clearing and custody business that the firm is now actively marketing to wealth managers. * The firm intends to bring on its first anchor client, a top U.S.-based RIA, within the next couple of months, and has approximately 40 additional RIA firms in the pipeline. * The offering is built on the digital clearing and custody platform of Apex Fintech Solutions, in which State Street took a minority interest last October, with State Street acting as introducing broker and adding its own layer of data, services and AI capabilities around Apex's APIs. * State Street sold a majority stake in its Wealth Manager Services business to FNZ about five years ago and continues to hold a minority stake in that business. * The unit hired Jennifer Stokes, former head of clearing operations at Altruist, as head of wealth custody and clearing, and Pete Dorsey, previously of LPL Financial, Altruist and TD Ameritrade, as chief revenue officer for wealth custody and clearing. * John Plansky, executive vice president and head of State Street Wealth Services, said the offering targets RIAs with $1 billion or more in assets rather than smaller firms, and that State Street has decided not to operate as a wealth manager itself. * Plansky cited legacy custodian practices such as charging ETF providers for platform placement, an issue analysts raised in connection with Vanguard's decision to buy Altruist, as an opening for a new entrant.
Arca, an AI-native wealth management firm that emerged from stealth in June 2026 with $64 million in funding, has partnered with Altruist as its preferred custodian and technology partner. Despite being recently launched, Arca already manages over $1 billion in client assets. The company has embedded Altruist's Realtime Custodial API into its proprietary platform. This integration enables Arca's AI agents to streamline operational workflows, allowing human advisors to focus on delivering personalised guidance to clients. Arca combines expert advisors with purpose-built AI to automate operational complexity in wealth management. The firm scales through acquisition and proprietary software rather than traditional growth methods. Arca is the first firm building on Altruist's real-time API, with additional tech-forward advisory firms expected to follow later this year.
Altruist launches AI financial planning agent. Janowski, D. (2026, August 31). Altruist soft-launches AI financial planning agent. WealthManagement.com. https://www.wealthmanagement.com/advisor-support-platforms/altruist-launches-ai-financial-planning-agent * Custodian and technology provider Altruist has soft-launched a financial planning agent within its Hazel AI platform that generates comprehensive financial plans within minutes. * The agent covers retirement planning, investment optimization, cash flow analysis, estate planning, tax strategy, and insurance and risk assessment. * The tool provides real-time scenario modeling and is available to firms regardless of their custody arrangements with Altruist. * Founder and CEO Jason Wenk stated that the agent allows a single advisor to do much of the work that a shop full of specialists would do, in a fraction of the time. * The platform gathers data from financial documents, client meetings, and connected sources under zero data retention agreements with AI model providers, using AI for data collection while relying on dedicated calculation programs for financial computations. * Pricing was not immediately available, though the company indicated it would mirror its tax planning capability, where Hazel Admin AI costs $50 per seat monthly annually or $125 monthly with tax planning included. * The announcement follows Vanguard's agreement to acquire Altruist for $4.6 billion in an all-cash transaction expected to close later in 2026. Knote: I like that they are only using AI for data collection and input, not the actual planning decisions.
Vanguard is pushing into Fidelity's turf.
Vanguard strikes deal for fintech platform Altruist. Published on 08/26/2026 at 08:52 am EDT - Modified on 08/26/2026 at 09:04 am EDT Aug 26 (Reuters) - Vanguard Group said on Wednesday it would acquire fintech platform Altruist, giving the asset manager greater access to independent financial advisers and expanding its wealth-management capabilities. Here are some more details: o While the terms of the deal were not disclosed, the Wall Street Journal said the transaction was worth roughly $4 billion, citing people familiar with the matter. o Founded in 2018, Altruist is a wealth-management technology platform used by independent financial advisers. It is a competitor to Charles Schwab and Fidelity's custody businesses. o "As more investors in Vanguard funds choose to work with financial advisors, we see a significant opportunity to build on the strengths of two highly complementary organizations to help advisors serve clients more effectively," said Salim Ramji, CEO of Vanguard. o The deal aligns with Ramji's strategy of expanding Vanguard's advice and wealth-management business as asset managers push further into serving affluent clients. o Vanguard, which managed about $12 trillion in assets as of March 31, also acquired wealth-management technology provider Just Invest in 2021. o Following the deal's close, Altruist will continue to run as a separate business under Vanguard's ownership. o The transaction is expected to close later this year. (Reporting by Pragyan Kalita in Bengaluru) (C) Reuters - 2026