Assessment
Altruist pairs its self-clearing custodian with everyday advisor software: fee billing, a client portal, performance reporting, 500+ models, tax-loss harvesting, automated rebalancing, whole or fractional share trades at zero commission, and account opening and transfers done digitally. Fee schedules are published in detail, covering outgoing transfer fees and options commissions, something uncommon in this category.
Hazel, Altruist's AI assistant, added an agent for tax planning in February 2026 and an agent for financial planning in September 2026, and firms can buy it even if they do not custody with Altruist. Ownership is the unresolved point: on August 26, 2026, Vanguard agreed it would acquire Altruist, and when we checked it was not yet closed, so pricing could change and product plans could too.
Scenarios
| Scenario | Suitability | Why |
|---|---|---|
| Breakaway advisor starting a new RIA | Well suited | One provider covers trading, custody, reporting and billing. |
| Managing portfolios with models | Well suited | Rebalancing, tax-loss harvesting and 500+ models come included. |
| Meetings and planning with AI help | Well suited | Hazel handles meeting notes, financial planning and tax planning, and is available to firms custodied elsewhere. |
| Family office reporting and complex alternatives | Partly suited | There is an alternatives marketplace, though the reporting targets advisory accounts. |
Built for
Independent RIAs, breakaway advisors and established firms alike, that want one provider for custody and portfolio software with published fees.
Less suited to
Firms needing institutional custody where relationships are very large or complex, or buyers who would rather wait for the Vanguard deal to close.
Who should consider it
Likely to suit
- Independent RIAs wanting custody and software from a single provider
- Advisors who prefer published fee schedules
- Firms wanting AI help on meeting follow-up and planning
Unlikely to suit
- Firms needing a major institutional custodian
- Family offices that own complex private holdings
- Buyers who prefer waiting until Vanguard's deal closes
Rating by criterion
How the eight criteria that form the rating for Altruist are each scored out of 100.
Sector criteria
Whole or fractional shares of US stocks and ETFs, mutual funds, options, structured products, fixed income and an alternatives marketplace, spread across 30+ account types.
The Hazel AI assistant, a client portal, fee billing, performance reports, 500+ models, personalized indexing, tax-loss harvesting and automated rebalancing.
Links with CRM, reporting and planning tools such as RightCapital, eMoney, Salesforce FSC, Wealthbox, Redtail, Black Diamond and Orion, and includes a Realtime Custodial API.
SEC-registered and self-clearing, Altruist Financial LLC is a broker-dealer and a member of FINRA and SIPC, and it carries excess SIPC coverage via Lloyd's of London.
Vendor criteria
It ships fast, with two AI planning agents that were added in 2026, and funding from a round of $152 million during April 2025; Vanguard's pending acquisition makes the roadmap less certain.
Advisors can reach support by live chat or phone on weekdays, 9am to 8pm ET; according to Altruist, response time averages under 60 seconds.
Published fee schedules list $0 commissions on stocks and ETFs, $0.50 per options contract, along with Hazel seat prices. The page for the software subscription is from 2023.
No annual fee for account maintenance; subscription terms are published, but an owner change is pending.
Against its peers
How Altruist compares with other companies we rate in Wealth & brokerage platforms.
Fact file
| Custodian | Altruist Financial LLC, SEC-registered broker-dealer, member of FINRA and SIPC Source |
|---|---|
| Advisors served | According to Altruist, 6,000+ independent advisors Source |
| Commissions | US-listed stocks and ETFs at $0; options at $0.50 per contract Source |
| Hazel pricing | $60 per month per platform seat; $160 and $300 per month per planning agent seat Source |
| Ownership change | Vanguard's deal to acquire Altruist dates to August 26, 2026; terms were undisclosed Source |
Source pages
- Altruist homepage: https://altruist.com/ (As of September 23, 2026)
- Altruist about: https://altruist.com/about-us/ (As of September 23, 2026)
- Altruist trading: https://altruist.com/trading/ (As of September 23, 2026)
- Altruist Financial LLC fee schedule, August 14, 2026: https://cdn.prod.altruistnet.tech/wp-content/uploads/2026/05/Altruist-Fee-Schedule-Aug-14-2026.pdf (As of September 23, 2026)
- Altruist One: https://altruist.com/one/ (As of September 23, 2026)
- Hazel pricing: https://hazel.ai/pricing (As of September 23, 2026)
- Altruist integrations: https://altruist.com/integrations/ (As of September 23, 2026)
- Altruist account protection: https://altruist.com/strength-stability-and-protection/ (As of September 23, 2026)
- Altruist contact and support: https://altruist.com/contact/ (As of September 23, 2026)
- FINRA BrokerCheck: Altruist Financial LLC: https://api.brokercheck.finra.org/search/firm/299274?wt=json (As of September 23, 2026)
- Vanguard to acquire Altruist: https://corporate.vanguard.com/content/corporatesite/us/en/corp/who-we-are/pressroom/press-release-vanguard-announcement-082626.html (As of September 23, 2026)
- Hazel financial planning agent launch: https://altruist.com/news/altruist-introduces-ai-powered-financial-planning-in-hazel-helping-advisors-build-personalized-financial-plans-in-minutes/ (As of September 23, 2026)
How this rating was made
This profile gives our own assessment of Altruist to companies selecting a Wealth & brokerage platforms provider. The Fintech Index receives nothing for featuring a firm, for sponsorship, or for advertising, and Altruist gave us no payment for the profile.
The rating equals the average of eight criteria, with every criterion running from 0 to 100. Four address buyer needs in this sector, and four address the company together with its commercial terms.
Ratings are our editorial judgment, made from public information: pricing and legal pages, product documentation, compliance disclosures, and filings. This profile had no lab tests, and no accounts were opened. Fact-checking took place on September 23, 2026.