Altruist

Altruist is an AI-forward custodian and wealth platform founded in 2018. The company combines a self-clearing brokerage firm with software for independent financial advisors, unifying account opening, trading, portfolio management, billing and reporting in a single system. Its technical work spans artificial intelligence, brokerage and clearing infrastructure, portfolio management software and data integration across custodial data, CRM, email and notes. The platform is used by more than 6,000 independent advisors.

Its flagship AI product, Hazel, draws on real-time custodial data combined with CRM, email and notes to support faster answers and more personalised advice. Other components of the offering include the Altruist Platform itself, a Model Marketplace of more than 500 model portfolios priced up to three times cheaper than typical TAMPs, commission-free trading and high-yield cash options.

The company has raised more than $600 million in total, including a $152 million Series F in 2025 at a $1.9 billion valuation. Investors include Insight Partners, ICONIQ, GIC, Venrock, Vanguard and Salesforce Ventures. Altruist is headquartered in Culver City, California, with offices in San Francisco and Dallas.

Founder Jason Wenk started his own independent advisory firm in 2004 and is a former financial advisor. The company describes its mission as making financial advice better, more affordable and accessible, with a product focus on removing inefficiencies such as paper-heavy workflows and slow funding.