Altruist

RIA custodian with built-in trading, billing and reporting software.

RIA custodians

Altruist is a custodian for independent advisers that combines account opening, trading, portfolio management, billing and reporting on one platform. The company also lists direct indexing, a model marketplace, cash management and an AI assistant called Hazel.

It was founded in 2018 and raised a $152 million Series F in April 2025, led by GIC, at a reported valuation near $1.9 billion.

In the filings

177 of 8,572 wealth-focused RIAs, or 2%, name Altruist as a custodian on Form ADV. See the full record.

What it does

Custody
Account opening
Trading and rebalancing
Fee billing
Portfolio reporting
Model marketplace
Direct indexing

Named by others in this directory

Coverage

Sowell brings in Scott Dooley to lead new investment office
Financial ADVSR, Oct 21
SEC filings show more than 400 registered RIAs below Fidelity's $100 million custody floor
Financial ADVSR, Oct 7
High rates are redrawing custody and private-market access, and small advisors are caught in between
Financial ADVSR, Oct 7
Schwab's Jon Beatty is one custody head offering a port in the storm after Fidelity unmoors its sub-$100M RIAs and Altruist's Jason Wenk , Apex's Bill Capuzzi and TradePMR's R. Scott Victoria are among others
RIABiz, Oct 6
Altruist builds donor-advised funds into its custody platform with no account minimums
Financial ADVSR, Oct 6

All our coverage of Altruist

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