Ritholtz Wealth Management, a national RIA with over $6bn (£4.43bn) in assets for high net worth clients, has announced a partnership with RIA custodian Altruist to expand access to its financial advice offering.
Ritholtz has build a a tiered service model to meet clients wherever they are in their financial journey, and it said Altruist has the technology to support scaling up this offering.
Josh Brown, CEO of Ritholtz Wealth Management, said: “Our philosophy has always been that simple beats complex, and portfolios should be customised to a client’s goals and circumstances. Altruist gives us the ability to serve clients across generations seamlessly. This is where the industry is headed.”
Altruist enables clients to open accounts and be onboarded in “minutes”, the firms said, adding that it can support account opening, reporting, trading, billing and custody on a single platform.
“By minimising operational complexity, Ritholtz can now bring on more clients and accelerate growth without sacrificing personalisation,” the business said in a statement. “Advisers gain efficiency, clients benefit from straightforward digital experiences, and both share in the potential for better long-term outcomes”.
Jason Wenk, CEO of Altruist, added: “We share the belief that everyone deserves access to great financial advice, and together we’re offering a new way forward for the industry.”
