The company is eliminating its $1 per account per month portfolio accounting fee on Altruist brokerage accounts

In alignment with its mission to make independent financial advice better, more affordable, and accessible to everyone, the modern custodian is zeroing out the portfolio accounting software expense for all Altruist brokerage accounts. When advisors custody with Altruist, they now receive built-in performance reporting, fee billing, portfolio rebalancing, a modern client portal, and portfolio accounting at no additional cost.

The new pricing structure sits in stark contrast with existing options. For most advisors, portfolio accounting software is the most expensive part of their tech stack. According to Michael Kitces, advisors are spending between $40 to $70 per account per year. With the new advisor-friendly pricing model, switching to Altruist could represent tens of thousands in savings.

“Software and platform fees can become prohibitive to growth for large and fast-growing firms,” said Marc Greenberg, Chief Financial Officer at Altruist. “We are happy to offer a solution with scalable economics while simultaneously freeing up resources for more important things like client service, marketing, and operational efficiency.”

For advisors that work with other custodians, nothing is changing. They will continue to get their first 100 connected accounts for free, and remain subject to a $1 per account per month fee thereafter.

To learn more about Altruist’s pricing for advisors, please read CEO Jason Wenk’s latest blog here. Additional details can be found at altruist.com/subscription-pricing.

ABOUT ALTRUIST

Altruist is the modern custodian for independent RIAs. Altruist combines a self-clearing brokerage firm with intuitive software for account opening, trading, reporting, and billing – all in one streamlined solution. With Altruist, you can create custom models, trade fractional shares, automate rebalancing, and share performance with clients using a modern mobile app. Learn more at https://www.altruist.com and follow Altruist on Twitter @altruist.

Keep in mind, other brokerage fees, Model Marketplace fees and related expenses may apply on your client's assets. Please see the Altruist Financial LLC and Altruist LLC Fee Schedules and Subscription Pricing on altruist.com/legal to learn more.

Altruist Corp ("Altruist") offers technology and tools designed to help financial advisors achieve better outcomes. Advisory and certain other services are provided by Altruist LLC, an SEC-registered investment adviser, and brokerage related products and services are provided by Altruist Financial LLC, a member of FINRA/SIPC. Nothing in this communication should be construed as an offer, recommendation, or solicitation to buy or sell any security. Additionally, Altruist or its affiliates do not provide tax advice and investors are encouraged to consult with their personal tax advisors. Clearing and custody of securities provided by Altruist Financial LLC. © 2023 Altruist Corp 3030 S La Cienega Blvd Culver City, CA 90232.

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