Altruist
Brokerage trading platforms
Investment accounting software
Investment portfolio management software
Financial services software
- Features
- Ease of use
- Ease of management
- Quality of support
- Affordability
- Market presence
Take the quiz to check if Altruist and its alternatives fit your requirements.
$1 per account per month
Free Trial
Free version unavailable
Small
Medium
Large
-
What is Altruist
Altruist is a custody and brokerage platform designed for registered investment advisors (RIAs) to open and service client accounts and place trades. It combines brokerage operations with advisor workflows such as account onboarding, trading, rebalancing, and performance reporting. The product targets advisory firms that want an integrated, advisor-centric alternative to using separate custodians, trading tools, and reporting systems.
RIA-focused custody and brokerage
Altruist is built around RIA workflows such as client onboarding, account maintenance, and advisor-directed trading. This focus can reduce reliance on separate brokerage portals that primarily serve self-directed traders. The platform supports day-to-day servicing needs typical of advisory firms rather than charting-first trading experiences.
Integrated trading and rebalancing
The platform includes tools for implementing model portfolios and rebalancing across accounts. This supports portfolio-level execution and ongoing maintenance, which is a common requirement for advisors managing many households. Compared with trading-centric platforms, the emphasis is on operational execution tied to advisory portfolios rather than discretionary active trading features.
Unified client reporting workflows
Altruist provides performance reporting and portfolio views within the same environment used for custody and trading. This can simplify data reconciliation versus stitching together exports from multiple systems. For firms seeking a single operating system for client accounts, the integrated approach can reduce handoffs between tools.
Not built for active traders
Altruist is designed for advisors and managed portfolios, not for high-frequency or highly technical trading. Users looking for advanced charting, extensive order types, or trader-focused analytics may find the feature set limited. Firms with active trading desks may still need specialized trading terminals alongside Altruist.
Custody ecosystem constraints
Using an integrated custodian-broker model can limit flexibility compared with firms that prefer multiple custodians or highly customized integrations. Some third-party tools, data feeds, or niche workflows may not be supported to the same depth as more open ecosystems. This can matter for larger firms with established vendor stacks and bespoke processes.
Reporting/accounting depth varies
While the platform includes reporting, firms with complex investment accounting needs (e.g., specialized tax lots, alternatives, or highly customized reporting packages) may require additional systems. Capabilities can differ from dedicated investment accounting platforms that focus exclusively on reconciliation and accounting controls. Prospective buyers typically need to validate coverage for their specific asset types and reporting requirements.
Plan & Pricing
| Plan | Price | Key features & notes |
|---|---|---|
| Base platform (Altruist brokerage accounts) | No additional portfolio-accounting fee (built-in; $0 listed for portfolio accounting for Altruist brokerage accounts) | Built-in performance reporting, fee billing, rebalancing, client portal; commission-free trading on US-listed equities/ETFs/warrants/treasuries (other fees may apply). See Altruist Financial LLC Fee Schedule for transaction and service fees. |
| Connected third-party accounts (accounts custodied elsewhere, connected to Altruist) | $1.00 per account / month | First 100 connected third-party accounts free every month; prorated billing when accounts added/removed; billed monthly after trial. |
| Altruist One (optional subscription) | 0.01% per month (asset-based) | Household-level subscription: boosted cash yields, automated tax-loss harvesting, $0 transaction fees on many securities, discounts/waivers on Model Marketplace fees; $1 minimum monthly fee per account for participation in High-Yield Cash (High-Yield Cash accounts are not included in the 0.01% asset-based fee). Cancel any time. |
Usage-based / marketplace & other fees (labeled format) Pricing model: Model Marketplace & tool fees vary by model / feature (percent-of-assets/annualized basis points; some tools are fixed-dollar service fees listed in the broker-dealer fee schedule) Free tier/trial: N/A (model fees depend on chosen models; some models are free) Example costs (model & tool examples from Altruist LLC Fee Schedule):
- Tax Loss Harvesting Tool Fee: 10 basis points annual (waived with Altruist One).
- Representative Model fees (annual): Altruist Strategist – 12 bps/year (1 bps/mo); Altruist U.S. All-Cap Direct Index – 15 bps/year (1.25 bps/mo); Markin Asset Management Total Return Income – 87 bps/year (7.25 bps/mo). Many models show reduced or waived fees for Altruist One subscribers.
- Model Marketplace fees range from 0 bps (no fee) up to the high double-digits for certain providers; fees are charged as a percentage of assets (annualized) and billed pro-rata monthly in arrears. Discount options: Altruist One reduces or waives many Model Marketplace and TLH fees (see Altruist One terms and fee schedule).
Other Altruist Financial LLC sample service fees (downloaded fee schedule):
- ACAT & Non-ACAT Transfers Out (full): $50; Partial transfers: $0.
- Annual account maintenance: $0.
- Mutual fund transaction fee (trades >= $1,000): $20 (Vanguard & DFA reduced fee $5); many equities/ETFs/treasuries: $0 commissions.
- Wire (online): $15; Wire (form): $30. (See Altruist Financial LLC Fee Schedule PDF for full list.)
Seller details
Altruist Corp.
Culver City, CA, USA
2018
Private
https://altruist.com/
https://x.com/altruist
https://www.linkedin.com/company/altruist/
