“While the RIA industry has evolved rapidly over the past 20 years, the custodians serving them have not,” said Altruist CEO Jason Wenk in a statement. “Legacy custodians have little incentive to innovate and rebuild technology that would enable advisors to scale and reach as many people as possible.”

https://www.thinkadvisor.com/2023/04/13/altruist-raises-112m-to-take-on-schwab-fidelity-tech-roundup/