Altruist has carved out a unique position in the increasingly crowded field of Pension Fund Management Software by focusing on a blend of digital account management and customer engagement tools. This focus aims to simplify the complexities of wealth management while enhancing the advisor-client relationship.
From the get-go, Altruist positions itself as an ally to Registered Investment Advisors (RIAs), promising to streamline the journey from independent advisor to thriving RIA. This is achieved through a suite of tools that address every stage of the customer lifecycle, from digital account opening and funding to portfolio management and reporting. Their platform is a one-stop-shop tailored to the needs of RIAs, with an emphasis on automation and efficiency.
One of Altruist's main selling points is its digital account opening process, which boasts speed and ease of use. This feature, alongside the automated rebalancer and fractional share trading, is designed to make the life of an advisor easier, freeing up time to focus on client relationships and business growth. For advisors looking to scale, Altruist provides a compelling argument with tools that promise to eliminate administrative inefficiencies and lower operational costs.
Altruist's commitment to customer service is another highlight. They offer a live chat support system that's not only fast but is staffed by well-trained customer service agents. This level of support is a significant advantage for advisors who need quick answers to ensure their business runs smoothly.
The company also understands the importance of a hands-on approach in today’s market. They offer self-guided tours of their products, case studies, and original content aimed at educating and informing advisors on best practices and emerging trends. Altruist seems to recognize that an informed advisor is an empowered advisor.
However, no platform is without its limitations. While Altruist excels in digital innovation and customer support, potential users should consider the depth and breadth of their investment solutions. While the company does offer a model marketplace and portfolio reporting, advisors with highly specialized or complex needs may want to explore how these features compare with other industry offerings.
In terms of distinguishing itself from other companies in the Pension Fund Management Software industry, Altruist's focus on RIAs and the simplification of their workflow is significant. They're not trying to be everything to everyone, which in a sea of jack-of-all-trades platforms, helps them stand out. Their digital-first approach aligns well with the direction the industry is moving, particularly in the post-pandemic world where online interactions have become the norm.
In conclusion, Altruist presents a compelling choice for RIAs looking to streamline their practice and focus on growth. Their platform offers a combination of ease of use, efficient customer service, and a strong emphasis on digital account management and client engagement. While they may not have the same breadth of investment management tools as some of the larger, more established players, for many advisors, the trade-off in favor of digital efficiency and customer experience will be worth it.
Altruist offers a comprehensive suite of digital solutions tailored for Registered Investment Advisors, providing an integrated platform that simplifies account management, trading, billing, and client engagement with a focus on automation, efficiency, and a high-touch customer service experience, all aimed at empowering advisors to deliver better client outcomes.
An efficient process for RIAs to open and fund accounts digitally, providing convenience and speed for both advisors and their clients.
An integrated solution for managing client billing and reporting, streamlined to facilitate financial operations for advisors.
Commission-free fractional share trading to enable investment strategies for clients of any account size.
A tool for advisors to implement investment strategies efficiently, ensuring portfolios stay aligned with client goals.
Provides a comprehensive platform with a highly efficient support team, boasting an average response time under 40 seconds.
Executes 99.89% of trades at the desired price or better, exemplifying a highly efficient trading system.
Offers a cost-effective solution for wealth management, including commission-free fractional shares and access to institutional managers.
The platform's focus on efficiency and low fees may come at the expense of more personalized service options.
With Altruist, after signing up, you will likely start by setting up your digital account opening and funding. Their platform is built to help RIAs manage portfolios and client relationships with ease. You can expect to use tools for automating billing and reporting, as well as engaging in high-touch support for digital bulk transfers. Altruist offers self-guided tours and webinars to ease the onboarding process. To get started, you can talk to their team directly through the Altruist website. If Altruist doesn't seem like a match, consider looking at the rest of our rankings.