Vanguard and Altruist, an artificial intelligence–forward wealth technology and custody platform serving financial advisers, announced that they have entered into a definitive agreement under which Vanguard will acquire Altruist.
Altruist combines a purpose-built platform, specialized talent, established adviser relationships and deep expertise translating advice into better workflows and experiences. Under Vanguard’s ownership, Altruist will be better positioned to help advisers across the industry serve more clients, improve investors’ outcomes and bring high-quality financial advice to more people.
Vanguard first invested in Altruist in 2020 to bring greater competition to the registered investment adviser (RIA) custody space, to make advice more accessible and to deliver better outcomes for investors.
The acquisition should give Altruist greater capacity and long-term support to invest in its adviser technology and custody capabilities, while drawing o
