Altruist Ends Portfolio Software Fee for Advisors

Jason Wenk, CEO of Altruist

Therefore, switching to Altruist could mean “tens of thousands” of dollars in savings for advisors who switch to the firm, it said.

Meanwhile, for advisors using non-Altruist accounts, “nothing is changing,” Altruist said. “They will continue to get their first 100 connected accounts for free, and remain subject to a $1 per account per month fee thereafter.”

In a blog post, Jason Wenk, Altruist CEO, said: “We strive to help RIAs grow faster, reduce costs, streamline operations, and elevate the client experience. The broader implication of these outcomes are clear: when quality financial advice becomes accessible to a wider audience, more people can make better decisions with their money. This fosters better outcomes and higher financial confidence for individuals, families, businesses, and the economy.”

Altruist’s decision to eliminate the accounting software fees on Altruist brokerage accounts comes as the firm launches new portfolio reporting features and enhancements, including holdings level analytics, additional rebalance insights, enhanced dividend reporting and a cash clarity tooltip, he added.

Pictured: Altruist CEO Jason Wenk

See also  Paul Quaranto Jr. Elected to Chair ACLI Board