Jason Wenk, the founder and CEO of Altruist, a modern custodian for independent financial advisors, is on a mission to shake up the asset management industry.
Building a Better Custodian
Wenk, a veteran of the financial services space, founded Altruist in 2019 with a simple goal: to create a more efficient, transparent, and cost-effective way for financial advisors to manage their clients’ assets.
So, what drove Wenk to start Altruist? “I was working at a traditional custodian at the time, and I saw firsthand the inefficiencies and high costs that were being passed on to advisors and their clients,” he explains. “I realized that there had to be a better way.”
Traditionally, custodians have been the middlemen in the asset management process, holding and safeguarding assets on behalf of advisors and their clients. But these middlemen often come with hefty fees and outdated technology. Altruist aims to change that.
Data-Driven Decision Making
Wenk’s vision for Altruist is to use technology to provide advisors with real-time data and insights that enable them to make more informed investment decisions. “We’re not just a custodian,” he says. “We’re a platform that provides advisors with the tools and resources they need to grow their businesses and better serve their clients.”
One key feature of the Altruist platform is its ability to provide advisors with detailed analytics and reporting on their clients’ accounts. This allows advisors to identify areas of opportunity and make data-driven decisions about their clients’ portfolios.
What this means for advisors and their clients is a more personalized and efficient investment experience. Advisors can focus on providing tailored advice and guidance, rather than spending hours digging through paper statements and phone calls to get the information they need. Clients, meanwhile, can rest assured that their assets are being managed with the latest technology and expertise.
A New Standard for Custodians
Wenk’s long-term goal for Altruist is to set a new standard for custodians in the financial services industry. “We want to be the gold standard for advisors and their clients,” he says. “We’re committed to providing the highest level of service, the latest technology, and the most competitive pricing in the market.”
With the launch of Altruist, Wenk is taking on the traditional players in the custodian space. But he’s confident that his vision for a more modern, efficient, and transparent asset management industry will resonate with advisors and their clients.
