Altruist is expanding its digital wealth platform to offer alternative assets, allowing advisors to provide more clients with greater access to private markets and other strategies traditionally limited to large investors, the firm announced Tuesday.
Altruist's alternatives marketplace includes private equity, real estate and infrastructure strategies from Blackstone, J.P. Morgan Asset Management, KKR and Pantheon. Advisors on Altruist can prepare and send clients documents for review and signature and manage reporting and billing without leaving the platform, the firm said.
"Advisors are competing for clients who want access to private markets, more personalized strategies and flexible ways to manage liquidity," said Jason Wenk, Altruist's founder and CEO. "Until now, delivering that access often meant working across multiple systems and inefficient workflows. We've built these capabilities directly into the Altruist platform so advisors can run their best practice in one streamlined experience."
Altruist later this year plans to add margin loans for liquidity, options for income generation, and expanded money movement capabilities, including direct deposit, physical checkbooks and third-party digital check distributions.
Altruist CEO Jason Wenk. Courtesy photo
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