LOS ANGELES, July 7, 2021 /PRNewswire/ — Altruist, an all-in-one custodial solution for modern financial advisors, today announced new models on its Model Marketplace from BlackRock, Inc. (NYSE: BLK); Redwood Investment Management (Redwood); and State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE: STT). Altruist’s Model Marketplace launched earlier this year with Vanguard, Dimensional Fund Advisors, and the Altruist Simplicity Series (a free set of models for advisors designed to reduce risk and maximize return potential).
Blog post: More models, more choices: expanding impact
“Expensive outsourced portfolio management platforms have prevented RIAs from using top-tier models to build their clients’ portfolios. We’re here to change that,” said Mazi Bahadori, CCO and EVP of Operations at Altruist. “Advisors should have access to better choices for their clients, free from costly, archaic solutions. Altruist will continue to enable independent advisors to tap into turnkey portfolios from the world’s leading asset managers, all in one place.”
Altruist fully integrates brokerage services and essential practice management software (including the Model Marketplace) into a single platform. Advisors can open and fund accounts, invest, manage, report, and bill all in one digitally native place with Altruist, garnering substantial savings to operating their business. Now, with the latest marketplace additions, advisors using Altruist can access BlackRock’s Target Allocation ESG and Target Allocation ETF Series, Redwood’s Engineered Risk-Budgeted Series, and State Street Active Asset Allocation ETF Portfolios. The availability of BlackRock’s Target Allocation ESG Series broadens access to sustainable investment opportunities at a crucial time — 73% of advisors say that clients want ESG investments a part of portfolio strategies.
“Models are quickly becoming the vehicle of choice as advisors look for ways to spend more time with their clients. Altruist’s tech-enabled platform combined with its Model Marketplace enables advisors to do just that. We are excited to offer the first ESG model portfolios on the Altruist platform, providing advisors with solutions they need to help their clients incorporate sustainability risks and opportunities into their portfolios,” said Michael Lane, Head of iShares U.S. Wealth Advisory at BlackRock.
Jason Wenk, Altruist’s CEO and founder, added, “Offering a selection of high-quality, active boutique models empowers advisors to focus on giving their clients a better experience with money. That’s why the continued growth of our Model Marketplace is exciting—we’re offering more choice and flexibility to advisors, including sustainability models. We’re grateful to integrate with leading firms as we continue making financial advice better and more accessible.”
About Altruist
Altruist is a Los Angeles-based fintech company that makes independent financial advisors more efficient, affordable, and accessible to more people. The team provides advisors with cutting-edge tools through an investment platform that substantially lowers costs. As an entirely digital brokerage, Altruist helps advisors give their clients a better experience with money. Learn more at altruist.com and follow on Twitter @altruist.
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SOURCE Altruist
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