We’ve combined the essential pieces of software needed to manage your RIA inside our brokerage platform, so you can save time and lower costs.
Altruist is made for modern financial advisors who value simplicity. Your most critical business functions are built natively into our platform. This innovation means you get a seamless, fast, and delightful user experience. Spend less time managing your software and more time taking care of your clients.
At just $1 per account per month, with the first 100 accounts on Altruist being free*, you could significantly lower your software spend. With Altruist you can also trade fractional shares commission-free, so you can invest how you want no matter your client’s portfolio size.
Using Altruist, you can open an account in-person alongside your client, or you can queue up an invitation to send via email. You can complete as much or as little of the account opening details as you want and send it to your client to review, complete, and confirm.
No wet signatures. No paper. Blazing fast.
Account types supported—
With a simple log-in via our data transfer partner, Plaid, your client can establish a connection with their bank directly on Altruist and add funds digitally at any time. Clients can make transfers on a one-time basis or recurring, to be processed immediately or scheduled for a future date.
Preparing an ACAT on behalf of your client is a breeze. Simply navigate to the account, enter the incoming institution details, and submit. Your client will receive an email to approve the transfer.
Trade Individual Securities
Buying and selling securities on an Altruist account is easy. Simply navigate to the client account’s Holdings and click Trade, search for the symbol you’d like to buy, choose how many shares or how much you want to buy in dollars, and submit your order.
Rebalancing & Model Portfolios
By assigning a model portfolio to your client’s accounts, you can take advantage of our set-it-and-forget-it automated rebalancing. First, build a set of models to represent your desired exposure within different asset classes (e.g., Equity or Large-Cap Equity). Then combine your models into a model portfolio to create a complete asset allocation.
When building your model portfolio, you can set the minimum cash allocation and a custom drift setting to determine when a rebalance should take place. If a client account drifts out of the target allocation of its assigned portfolio, it will automatically trigger a rebalance to bring it back in line with your settings.
This helps you manage money on autopilot, freeing you up to focus on serving your clients better.
In addition to model portfolios from leading asset managers, we also offer a set of our own low-cost, tax-efficient, and highly-diversified models: the Simplicity Series. This series is free to use (no advisory fee).
Assigning a portfolio from our marketplace is as simple as navigating to your client account, clicking assign, and choosing the portfolio from the provider you’d like to use. The advisory fee assessed for each model portfolio will be automatically deducted each month, in arrears from your clients’ accounts.
Quickly drill into a household (client) to view balances, performance charts, returns, deposits, earnings, holdings, cost basis, and activity. You can also generate a printable (PDF) report to provide your clients with.
All of the most important information you need to monitor your client accounts in one simple, easy-to-use interface.
Creating your fee schedules can be done in minutes and assigned to your client accounts all in one spot, no separate fee billing software needed.
Fee schedules offered:
Give it a name, choose whether to bill in advance or in arrears, set the billing frequency and amount, and you’re done. When using AUM-based billing, you’ll also set your balance calculation and AUM tiers.
Once your fee schedule is ready you can assign by the household or by account. After your schedule is assigned, you allocate the fee evenly across all accounts or customize it for each.
Your fees will be debited from your client accounts and credited directly into your house (sundry) account on Altruist, which you can transfer directly into your bank account. Invoices are generated automatically and made available to both you and your client in their portal or mobile app.
A client can open an account in minutes, or even seconds depending on how much of the process you queue up on their behalf. Once they receive their invitation to join the online portal, they’ll create a login and review any new accounts you initiated. They can make changes to update information, or simply review and approve the account to finish the process.
Once the account is opened, they can approve an ACAT or begin transferring funds with a direct connection from their bank or with one of the other methods covered here.
This can all be done on their desktop computer or from the convenience of their phone via our Altruist Client app, available for download from the App Store (iOS) and Google Play Store (Android).
Our mobile app and online portal help you build trust with your clients through transparency. Clients can view balances, performance, holdings, invoices, documents, and activity whenever they want, from the palm of their hand.
Every advisor is a priority to us. Our goal is to ensure you and your clients have an amazing experience with Altruist.
This helps us ensure we’re building what our customers want. It’s also an opportunity for you to interact with the Altruist advisor community and take part in giving feedback directly to our product and design teams as we develop features and ask for your input. In this same portal, you’ll gain access to our roadmap so you can see exactly what we’re working on.
Altruist is an ever-evolving platform with dozens of engineers, designers, and product managers working hard to build the best experience possible for you and your clients.