Altruist Reviews & Product Details

I got started with Altruist around the end of 2021, when I took my advisory practice independent and left the hybrid BD/RIA platform that I had been serving clients through previously. Altruist has gained a lot of new capabilities in the time since then but I've always been steadily impressed with their quality of support for advisors and the pace they've rolled out new features.

As a vertically-integrated tech stack, Altruist substitutes for multiple other software tools which would have been impractical for me to use as I was starting up my own practice. They also have convenient back-end integrations with other advisor technologies, so it can be very open-ended. I came to Altruist having very little prior software tech stack, but I can also see how a larger practice could still integrate the tools they liked and keep using them.

Altruist's software saves me a ton of time and makes it easy to automate various aspects of practice management. There's a lot less drudgery involved with account opening, transfering, rebalancing, and so on - the sort of activities that drain time away from my main focus which is keeping up with the needs of my clients. Review collected by and hosted on G2.com.

Altruist is a relatively younger company and so its brand is not as well known as the bigger players in the advisor-custodian space. Review collected by and hosted on G2.com.

All-in-one custodian and portfolio management, easy account opening and transfer processes, very high-quality support, clean look and feel, advisor-focused and constantly seeking improvement, don't have to question their intentions or wonder if they're going to stab me in the back Review collected by and hosted on G2.com.

There have been a very few circumstances of technical trouble which has always been resolved quickly by support Review collected by and hosted on G2.com.

Altruist's processes and integrations are seamless and easy. There is not any noise on their platform - it's intuitive and saves us many hours a week by reducing the time spent on account openings, maintenance, trading/rebalancing, as well as billing. Customer support is also fantastic! Review collected by and hosted on G2.com.

There's nothing I dislike. The great thing is, any time I see room for improvement, Altruist listens to my ideas and will create a solution to satisy. Their roadmap for new features continues to impress, and help separate it from Schwab and Fidelity. Review collected by and hosted on G2.com.

I love the efficiency, simplicity, and intuitiveness of the platform. If you are an advisor that has ever dealt with clunky software or archaic processes and thought, "Why can't I just ____?", Altruist has likely already implemented that feature. Plus, their support team is quick, knowledgeable, and kind. Review collected by and hosted on G2.com.

Because Altruist is so new, they don't have some things that more established custodians have -- such as margin and certain account types. I'm confident those features are just around the corner as Altruist is continuously evolving and improving. Review collected by and hosted on G2.com.

Altruist is an all-in-one platform for RIA's (Registered Investment Advisors) and their IAR's (Investment Advisor Representatives) They have developed what should be the industry standard of 2022 for an "almost" all-encompassing package. The only things they don't cover are your CRM, financial planning, and compliance. They are currently considering covering the costs associated with two of these depending on your relationship with them.

-You can open accounts in less than 5 minutes.

-Portfolio software and performance software are included (create your own portfolios or use their model marketplace, including a newly minted direct indexing strategy). They use FRACTIONAL SHARES through Apex Clearing Corporation meaning you can diversify a client of any size into any portfolio you create or use.

-Support is very responsive

-Unlike Betterment, you can trade stocks for your clients and are not pidgeonholed into mutual funds / etf's -- meaning you can craft portfolios or use their own for much better targeting in client's accounts.

-Billing is included

-The UI is absolutely beautiful and clean for both the advisor and the client

-They clear through Apex Clearing Corporation and are a technology platform. Apex has over $100B under custody. It's an easy value proposition when your speaking to existing or new clients.

-They don't have a retail facing side and are not in competition with your firm.

-No fees or agreements you have to pay Altruist (other platforms charge wrap fees and $/mo per advisor fees to use their "modern" platforms which pale in comparison to Altruist).

-Their managed solutions you can tap into "aka model marketplace" only charge around 10-12bps/mo unlike SMA's on other platforms charging upwards of 50-75bps.

-They integrate with almost all third part tech stack solutions (including Right Capital, Wealthbox, ect.) and can pull your firms data from Schwab and other custodians into their system.

This, in my opinion, is the LPL Financial and Raymond James of 2022, and is a huge disruptor in the industry. When RIA's find out about Altruist it will be hard not to switch. Review collected by and hosted on G2.com.

There is nothing to dislike. New features are released every two weeks to a month and are based on the collective heartbeat of all the RIA's and their advisors on the platform, which can create new ideas and vote on them. They are extraordinarily responsive. Review collected by and hosted on G2.com.

I like the ease of being able to open accounts and initiate ACAT transfers. I also like the culture of the firm. Review collected by and hosted on G2.com.

With any new service provider operating in a complex environment, there are going to be bugs, gaps and miscues. Altruist has their share. But they are quick to own their mistakes and correct them. Review collected by and hosted on G2.com.

I love the all-online, low-paperwork approach that Altruist has taken, as well as the inexpensive ($24/year per account as of writing, and only AFTER 100 free accounts) set up. It's super easy to onboard clients, there's no paper forms/wet signatures required, and everything happens fast. Asset transfers are a snap, so long as you get the DTC numbers correct and the contra firm supports ACAT painlessly. This was exactly what I was looking for in an investment management platform, very happy here so far. Review collected by and hosted on G2.com.

There's still plenty of product features in development, so there are certainly things that would be 'nice' to do (but not essential) that might not be supported. (Ex: can't set up entity-level accounts yet, although by the time you read this that might be possible.) That said, so far I have high confidence that the dev team will build what is needed, and even in the few months since I've been using Altruist they've pushed several helpful features like allowing UGMA/UTMA accounts. Review collected by and hosted on G2.com.

Seamless technology that is simple, and intuitive, yet does everything that I need it to do. The trading/rebalancing functionality is top-notch and it is each to open and fund accounts. Add to it a slick mobile app and we've got everything we need to run a top-notch advisory business. Review collected by and hosted on G2.com.

Altruist is still in its formative years, so there are a number of account types that aren't yet available. However, based on the rapid development of the platform and that they seek out ideas from their users, I am confident in due time they will broaden access to new account types. Review collected by and hosted on G2.com.

Altruist is an excellent solution for RIAs looking to streamline their wealth management. With automated solutions for customized portfolio building, performance reporting, and fee billing, it's an essential tool for the modern advisor. Review collected by and hosted on G2.com.

Nothing! Altruist has lived up to its promises and is continuing to iterate and add new features. So far, nothing to dislike. Review collected by and hosted on G2.com.

Finally a custodian that values their clients and are building what advisors want/need. Altruist has replaced many of the previous tools I used in the past and has helped to streamline my business. Review collected by and hosted on G2.com.

Being one of the first users, we've had to wait for new features to be released, but they've been rolling out over time and keep making the platform better and better. Review collected by and hosted on G2.com.