Altruist vs Fidelity Institutional
An independent advisory firm comparing Altruist with Fidelity Institutional is deciding where the client accounts sit, and which software still comes from another company. Altruist holds the accounts and runs the day-to-day software. Fidelity Institutional holds the accounts. The usual setup is custody at Fidelity plus portfolio software from someone else. Fidelity's brokerage platform for those accounts is Wealthscape, which covers opening accounts, moving money, and trading, and Fidelity also describes a setup that pairs Wealthscape with software from other companies. This site has not scored Fidelity Institutional.
Altruist
82 / 100
Best for
A firm that wants one company to hold the accounts and to run the software used on those accounts each day.
Fidelity Institutional
Not reviewed here
Best for
A firm that wants the accounts held at Fidelity and will keep portfolio software from another company. Wealthscape is Fidelity's brokerage platform for opening accounts, moving money, and trading.
Bottom line
Choose Altruist when one company should hold the accounts and run the day-to-day software. Choose Fidelity Institutional when the firm wants the accounts held at Fidelity and will use portfolio software from someone else. This site has not scored Fidelity Institutional.