An all-in-one platform for savvy financial advisors

Altruist is a full-service custodial investment platform that provides registered investment advisors (RIAs) with software for seamless account opening, trading, reporting, and billing.

Stats

Vention team members

years of active engagement

team growth since the project’s launch

Project description

In the RIA market, the focus has often been on saving a dime rather than saving time. That’s why advisors who are tired of legacy custodian (read: asset safekeeping) services, with their endless hold times and hidden fees, are shifting gears to Altruist, the only advanced custodian built solely for RIAs. The company offers seamless UX, top-notch automation, and high-touch support — all at a rapid pace and competitive price.

Following several successful funding rounds totaling $280M, Altruist scaled their in-house team with five Vention engineers to build out a proprietary self-clearing system, enabling users to handle their trades without any third-party involvement.

Additionally, they needed seasoned Java developers proficient in enterprise engineering, microservices, and event-driven systems. The outcome was a powerhouse team armed with 37 years of combined relevant experience — a feat that would have been impossible with local hiring.

Our team was split into several pods; one was tasked with building the clearing platform from scratch, which included everything from client and broker accounts to cashiering to background screening. Shortly after, Altruist expanded our team three times to link the existing system with the new platform and create a tech integration suite for future customers.

On top of that, we successfully executed the automated customer account transfer (ACAT), which allowed for an uninterrupted workflow during the transition from the legacy solution, as well as substantially reduced the risk of errors and time-consuming delays commonly experienced with manual transfers.

With Altruist's enterprise clientele rapidly growing, we also bolstered our team with a technical writer and a business analyst to produce detailed technical documentation for smooth customer onboarding and platform integration.

The result

Vention built a resilient, event-driven self-clearing platform featuring advanced tools for monitoring potential errors and performance. What’s more, we introduced a middle-office app for Altruist’s customer care team, boosting the company’s operational efficiency, compliance, and decision-making.

And the best part? The custom-built software suite enabled Altruist to become the industry's first all-in-one custodian and create a new revenue stream by offering clearing as a service.