Altruist Rolls Out Personalized Indexing for Client Portfolios
Advisers can customize portfolios without additional paperwork or trading surchargers.
Altruist Corp., a digital custodian for registered investment advisers, launched Altruist Personalized Indexing on Wednesday to assist with client portfolio customization.
Advisers can exclude industries, sectors, issues or securities across a portfolio, and the offering has minimums of $2,000 with no additional paperwork, accounts or trading surcharges.
“For too long, customization was limited to a small subset of accounts,” said Jason Wenk, Altruist’s founder and CEO, in a statement. “But no two clients are alike, and no two portfolios should be either.”
The addition also allows advisers to see how exclusions could affect portfolios, while maintaining various client portfolios with automatic rebalancing. The offering is also integrated into Altruist’s portfolio management tools and automated tax management tools.
Altruist was founded in 2018, and its investors included the investment firms Adams Street Partners, Granite Capital Management, Iconiq Growth Sound Ventures and Vanguard Group Inc. and the private equity firm Insight Partners. In March 2023, the company nearly doubled its roster of advisers to more than 3,000 through the acquisition of Shareholder Service Group.