Verdict
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.
Score breakdown
How Altruist is scored on criteria buyers in this category care about.
Buyer outcomes
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.
Company and commercial
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.
The field at a glance
Placement of Altruist by Overall Score among Wealth & brokerage platforms companies reviewed by us.
Use-case fit
| Use case | Fit | Notes |
|---|---|---|
| Breakaway advisor starting a new RIA | Strong | One provider covers trading, custody, reporting and billing. |
| Managing portfolios with models | Strong | Rebalancing, tax-loss harvesting and 500+ models come included. |
| Meetings and planning with AI help | Strong | Hazel handles meeting notes, financial planning and tax planning, and is available to firms custodied elsewhere. |
| Family office reporting and complex alternatives | Mixed | There is an alternatives marketplace, though the reporting targets advisory accounts. |
Who it's for
Good fit
- 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
Poor fit
- Firms needing a major institutional custodian
- Family offices that own complex private holdings
- Buyers who prefer waiting until Vanguard's deal closes
Key facts
| 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 |
Sources
- 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)
Methodology
This page sets out an independent evaluation of Altruist for companies choosing a provider in Wealth & brokerage platforms. The Fintech Index accepts no payment for placement, sponsorship or advertising, and Altruist paid nothing for this review.
The Overall Score averages eight criteria, each given a score from 0 to 10. Four measure outcomes that matter to buyers in this category, and four address the company, including its commercial terms.
Scores are our editorial reading of public information: filings, compliance disclosures, product documentation, and pricing and legal pages. Lab tests were not run and accounts were not opened for this review. We checked the facts on September 23, 2026.