Altruist, a fully-integrated digital investment platform, announced the release of a new marketplace for financial advisors to use turnkey portfolios from leading asset managers. Advisors can build custom model portfolios on Altruist or assign models from providers in this new marketplace, initially featuring Vanguard and Dimensional Fund Advisors.
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“Many outsourced portfolio management platforms are hard to use and expensive. We recognize the tremendous value we can offer by seamlessly integrating portfolio management from the top brands into our existing brokerage and portfolio accounting software,” said Jason Wenk, CEO of Altruist. “Advisors save time, compress costs and ultimately do more for their clients. This is a big step in making quality financial advice more accessible to more people. We’re excited to launch with Vanguard and Dimensional and will be adding many more of your favorite providers soon.”
By using Altruist, an advisor can dramatically or completely eliminate other disparate software and brokerage vendors. With the addition of this new marketplace, an advisor can open and fund accounts, invest, manage, report and bill all in one place. Under the new marketplace, advisors are expected to save anywhere from 60-90% compared to other currently available solutions.
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“Advisors we work with have touted Altruist as a platform that can help their firms offer more efficient service and investment delivery,” said Bryce Skaff, Co-Head of Dimensional Global Client Group. “Investors benefit from additional industry participants offering low-cost, tax-efficient and highly-diversified investment solutions. We are excited that advisors working with Dimensional will have another option in their toolkit.”
As part of the marketplace launch, Altruist also released its own set of low-cost, tax-efficient and highly-diversified models, deemed the Simplicity Series.
“The Simplicity Series offers our advisors an easy-to-use and free set of models that have been carefully designed to reduce risk and maximize return potential,” said Altruist’s Quantitative Researcher, Gokul Ramanathan. “The goal of the Simplicity Series is to benefit from the liquid, broad market performance of diversified asset classes over a long investment horizon to avoid excessive taxes and fees. The Simplicity Series is a balanced approach that’s suitable for a wide array of investors.”
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