{"id":515260,"date":"2026-06-28T15:29:26","date_gmt":"2026-06-28T15:29:26","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/515260\/"},"modified":"2026-06-28T15:29:26","modified_gmt":"2026-06-28T15:29:26","slug":"6b-ria-ritholtz-adds-altruist-as-custodian","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/515260\/","title":{"rendered":"$6B RIA Ritholtz Adds Altruist as Custodian"},"content":{"rendered":"

Ritholtz Wealth Management, an RIA with more than $6 billion in assets, has added Altruist to its custodian lineup, which also includes Schwab, Fidelity and Betterment.<\/p>\n

In a statement, Ritholtz said its decision to partner with Altruist will help it serve a broader pool of investors, \u201cnot just those with millions to invest.\u201d The firm has built a tiered service model to do so, and Altruist\u2019s technology will help the RIA scale that model.<\/p>\n

\u201cOur philosophy has always been that simple beats complex, and portfolios should be customized to a client\u2019s goals and circumstances,\u201d said Josh Brown, CEO of Ritholtz, in a statement. \u201cThat means meeting people where they are. We talk to 18-year-olds opening their first accounts and 88-year-olds planning their legacies, and everyone in between. What matters is that someone values advice and wants to engage in the process. Altruist gives us the ability to serve clients across generations seamlessly. This is where the industry is headed.\u201d<\/p>\n

Related:Zephyr’s Adjusted for Risk: Culture-Driven Leadership – The Secret to Steward Partners’ Rapid Growth<\/a><\/p>\n

With Altruist, advisors have access to account opening, reporting, trading, billing and custody on one platform. The custodian\u2019s account opening process typically takes a few days.<\/p>\n

Altruist was founded in 2018, and has evolved into a self-clearing custodial platform with integrated brokerage services including account opening, reporting, trading and billing. In April, the firm\u00a0raised $152 million<\/a> in a Series F funding round that valued the RIA custodian at $1.9 billion and brought its total fundraising to $602 million. At the time, company executives said the funding would go toward developing new technology, tools, products and other features.\u00a0<\/p>\n

In separate news, Altruist announced the launch of \u201cHazel,\u201d its artificial intelligence service resource for advisor clients. It marks the first AI product release since Altruist acquired Thyme, an\u00a0AI-powered assistant, in June<\/a>.<\/p>\n

With the new assistant, advisors can ask questions, and it will answer them based on a firm\u2019s recorded conversations, emails, documents and CRM systems, as well as market and regulatory information. It can also provide a daily snapshot, draft client emails, create tasks following meetings and sync them with the advisor\u2019s CRM system, prep advisors for meetings, take real-time notes and safeguard client data.<\/p>\n

Advisors can access Hazel as a standalone platform for $60 per seat monthly or $600 per seat annually. Altruist will integrate Hazel into its custodial platform in the coming months.<\/p>\n

About two years ago, Altruist launched its own self-clearing platform<\/a>, Altruist Clearing, the final step in becoming a full-service custodian. Just weeks later, it announced plans to acquire SSG<\/a>, adding more than 1,600 advisors to its platform. The firm now has about 5,000 advisors on its platform.<\/p>\n

Related:Deals & Moves: Cetera Acquires $300M Tennessee RIA<\/a><\/p>\n

Last week, Altruist won the Custodians: Technology category at the Wealth Management Industry Awards<\/a> for its work on feature integrations.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Ritholtz Wealth Management, an RIA with more than $6 billion in assets, has added Altruist to its custodian…\n","protected":false},"author":2,"featured_media":515261,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[114,268,85,46,266,267],"class_list":["post-515260","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-il","tag-israel","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/515260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=515260"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/515260\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/515261"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=515260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=515260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=515260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}