Jason Wenk
@jasonwenk
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6,398
Following
1,223
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421
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Founder+CEO @altruist . Building technology to make financial advice better, more affordable, and accessible to everyone.
Los Angeles, CA
Joined March 2011
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Pinned Tweet
We have some news to share. It's been a wild and exciting ride building
@altruist
. We have awesome team members, investors, of our course - advisor partners. Thank you all. 🙏
We've raised additional funds to continue on our mission to make advice better, more affordable, and
We’re excited to announce our $169M Series E led by
@ICONIQGrowth
—empowering us to build enhanced functionality, scale our service organization, and improve platform experiences for advisors and clients.
We’re just getting started 🚀
Read more:
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@DanPriceSeattle
Followed your lead and implemented this as well. Business grew 400% in 4 years. People > profits, ironically leads to more profits. Continue leading the charge my friend!
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Spoiler alert, but I'm going to have my own podcast next year and it's going to be focused on helping early stage RIAs scale up. I'd love to talk to RIAs that have built new firms from scratch to $50m or more of AUM in the past 5 years. Shoot me a dm if your'e willing to chat.
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I recently dug up an old document I created back in 2010 to teach marketing to financial advisors. If you have ambitious plans for 2021, go download a copy. It's free and has the same techniques I used to build 2 multi-billion $ RIA firms. ✌️
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Big day for my
@altruist
team, our advisor partners, and the entire RIA community. Altruist is officially launching self clearing. Love you all ♥️
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Hi friends. Today
@altruist
is 3 years old 🥳. Doing a lot of pondering about our journey and can't wait to share some writing and musings soon. Until then, thank you to the many people I've met through Twitter that have helped make us possible. 🙏
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It’s been an incredible year, and we’re just getting started. I’m excited to share our Series D funding (and prev undisclosed C), enabling us to build the ultimate custodian for RIAs. We can change financial advice for the better, together.
💥 Exciting news to share today! We've raised a new $112M Series D round of funding led by Insight Partners and Adams Street, with support from existing investors.
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It’s a great time to be making financial advice better, more affordable, and more inclusive. Thank you to all our friends who have supported our mission. Together, we are taking financial advice in a whole new direction, and that’s a beautiful thing. 🙏🏼
Our $50 Million in Series B will amplify our mission.
Thank you to our community of advisors for jumping in with us and for believing in what’s possible.
There’s so much more to come 🚀
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More to come next week, but after reflecting on a big pricing blunder, and spending some time with customers and the RIA community at large, I'm fully nuking the
@altruist
fee schedule.
Expect the objectively lowest, simplest, and most customer centric schedule in the industry.
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How does every financial advisor not go full RIA now? Free tech + free trades makes going independent easier than ever.
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For financial advisors tempted to change client portfolios out of fear they will leave you:
Our job, as advisors, is to help clients make wise choices with their money. We shouldn't be advising them to make bad choices just to keep their fees.
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Thinking of hosting a small mastermind group in LA for financial advisors with ambitious growth plans. Would be free but only for RIAs with <$100m of AUM. Would probably be 1.5 days. Any interest?
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Many of my friends here don't know that I built a nearly $4b RIA
@FormulaFolios
before starting Altruist. Today we merged with another great RIA firm
@BrookstoneCM
led by my friend
@DeanZayed
. Together they will have some of the best people and tech any RIA has ever assembled. 🚀
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Breaking news from
#T32023
🗞️
@altruist
has acquired fellow RIA custodian
@SSG_Inst
. Read about it here, and at leading financial journals throughout the day.
@FinTechie
@t3techhub
@BobVeres
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I don't like how custodians currently give referrals to a very small group of RIA firms, based almost entirely on their AUM. We plan to change that and I have some ideas on how. If you're an advisor that would be interested in referrals from
@altruistcorp
shoot me a dm.
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Legit just shed a tear. So proud to partner with
@TR401
on a new show telling the stories of advisors who serve the underserved, and do so against all odds.
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Creating a new household, opening a new account, setting up an ACAT, and inviting a client on
@altruistcorp
. Took ~2 minutes. Maybe tomorrow I'll do the client portion, which takes ~30 seconds. Still in very rough form, will get much better next few weeks.
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Super happy to report we've hit 10,000 downloads of the
@altruistcorp
mobile app. This is approximately 10,000 more downloads than any other custodian app made for clients of financial advisors. 🚀
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If your marketing didn’t work without testimonials, adding them won’t fix the problem.
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Super proud of the
@altruist
team!
#2
most promising
#fintech
#startup
in the US! ☺️
@theinformation
🙏🏼
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Dropped into
@altruistcorp
HQ today. Virtual work is cool and all, but gotta say, I miss this place.
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Incredibly proud of our
@altruistcorp
team. Making steps everyday to build the best (and only) 100% digital solution for RIAs and their clients. 💪🏼
Today we're excited to release the first version of our client app for Altruist users! Check it out on the App Store📱
#fintech
#financialadvice
#clientsfirst
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We may have the shitiest location but we have to dopest booth and the best software in the room. Come find us if you can 😜
#T32020
@t3techhub
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I have a great deal of respect for both Schwab and TDA. Gotta say, though, this wasn’t the way I thought it would go down. RIP E-trade and Pershing (for RIAs). There’s a new “big 3”, Schwabatrade, Fidelity, and
@altruistcorp
. 😜
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Thrilled to announce that Altruist has earned a spot on
@FastCompany
's Most Innovative Companies of 2024 list!
We're proud to empower advisors with modern software, dedicated service, and tools built to drive better client outcomes.
Read more below.
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Next week
@altruistcorp
will be the first ever to trade fractional shares, commission free, for RIAs. Pretty stoked. ✌🏼
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As promised.... 🥁
Simply better pricing.
Last week was a great opportunity to learn and get better. The result is the objectively simplest and most advisor and client friendly fee schedule in the industry. Thank you all for making us better. 🙏
Today, we’re introducing straightforward pricing that’s better for clients and for advisors.
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I was OOO for a few days but evidently there was some big RIA conference this week where all the advisors kept talking about
@altruist
. It created a huge surge in signups.
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Dear Financial Advisors,
Can't wait to change the world together.
Cheers,
jw
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RIA friends. I'm working on a collection of tips you'd offer an advisor thinking of breaking away from a bank/wire/indy b-d/etc and launching their own firm. What is one thing you wish you'd have known before starting your firm?
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Time is the only thing in life you can’t get back.
Probably best not to use it doing your custodian’s paperwork or waiting on hold for for them for 45 minutes.
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We’ve been very fortunate to have the best brand & marketing team in the business, and it just stronger. Stoked to welcome
@zackolantern
(former
@Spotify
Head of Global Brand) as CMO at
@altruistcorp
! 🚀
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It was an honor to be on
@MichaelKitces
’s podcast 🙏 We talked for hours and could’ve easily talked a couple more. I hope advisors and entrepreneurs gain some insights that lead to breakthroughs from this one.
My guest on Ep350 of
#FASuccess
Podcast is
@jasonwenk
, CEO of
@altruist
, an RIA custodian that has quickly grown to serve more than 3,500 advisory firms across the country. He shares how he built Altruist as an "all-in-one" custodian platform for RIAs
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Our first integration. 🤝 🎉
Super stoked to work with
@AaronKlein
and the
@Riskalyze
team to help make financial advice better, more affordable, and available to all.
📣 Riskalyze | Press Release: Riskalyze and Altruist Partner to Empower Today’s Financial Advisors
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Just watched The Compound and realized
@ReformedBroker
referred to me as “that kid he knows”. I’m gonna call this a new high point for me. JB and MB, y’all are legends.
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Struggling to find the perfect RIA custodian? Fret no more. Altruist x Apex is advisor and client UX bliss. 🧘♀️
We are thrilled to announce our new partnership with
@altruistcorp
! Together, we are delivering frictionless investing through a conflict-free, tech forward experience—as it
#oughttobe
.
Learn more about the integration, here:
#AdvanceWithApex
#RIA
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It's possible
@altruist
has released more features than all other RIA custodians in the 10 yrs, combined. 🤔
April was pretty awesome on that front. Big thanks to the thousands of advisors using our Ideas feature and co-creating the best platform possible.
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Say hello to TaxIQ 👋
The most intelligent and automated tax alpha for RIAs, natively built into the
@altruist
platform.
Just two clicks and you’re pretty much a tax genius. 🤓
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Great timing for this article to be published. Jane was one of the first writers to ever interview me 10 or so years ago. Was very cool to come full circle and catch up. 🙏🏼
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@altruistcorp
v1 releases today. It’s just a start, not even close to where we’ll be in a few months, much less by year end. But, I couldn’t be more proud of what our team has built, or more excited for advisors to finally have a solution that puts them and their clients first.❤️
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Tyrone Ross Jr. has become one of the most influential and positive people in finance, as well as one of my closest friends. His journey is beyond inspiring. Please watch it next week. We can all be better, you’ll see. ✌🏼 ❤️
Next Tuesday a Human Advisor Podcast episode releases that you will not want to miss. Host
@TR401
sits on the other side of the table and is interviewed by Altruist CEO,
@jasonwenk
.
#financialadvisors
#inspirational
#motivation
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If you’ve never been to
#Excell
, the scale and quality is mind blowing. Stoked (but also a little nervous tbh) to take the stage at 9:30am today. Ruckus is likely 😆 If you’re here, let’s connect!
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There is no greater reward as a founder than to see your team thriving. I don't care much for awards, but this one is pretty special. ♥️
Altruist has been named one of
@BuiltInLA
’s best places to work!
#2022BuiltInBest
Oh, and did we mention we’re hiring? Check out our open roles and get in touch if you want to join a kind, brilliant team:
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Join ~480 of your advisor friends on the first ever
@altruistcorp
webinar this Wednesday. Walking through the platform and showing how to be sign up. We're releasing all features to our beta group and letting 50 more RIAs join from the waiting list.✌️
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I've been hearing from advisors affiliated with mega firms a lot lately, often because they are thinking about or planning to leave and start their own RIAs. If this turns into a larger trend the large RIAs (and aggregators) could be in for some challenges.
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Having Bill McNabb join our Board of Directors has been pretty surreal.
@NickBeim
@Venrock
you've been the best partners any startup could ask for.
@rchusker
couldn't be happier to have your support.
@Mike_Thrasher
thanks for sharing our story.
2021 🚀
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Back in 2008-2010 I noticed a huge increase in free dinner seminars being used to pitch complicated index annuities by bad salespeople. Started blogging about it and it not only helped thousands of people, it was the catalyst for transforming my business forever. (1/3)
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The team crushed it with this 🙌🏼
Can’t wait to see how many clients advisors help with Altruist Cash!
Introducing Altruist Cash 💰
Your clients get 5.10% APY on cash.
💲11x the national average
💲No more pushing clients to 3rd party solutions
💲Provide attractive yields without sacrificing visibility into your client's entire financial picture
Read:
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I suspect a good chunk of RIAs will make the move by this summer. Of those who stay through the schwabitrade conversion, another good chunk will decide to move before next summer. Either way, when the time suits you, come have a look!
Are you an RIA considering a switch from TDA to Altruist? Get your questions answered and check out this thread below 👇
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Some huge feature drops/enhancements this month from
@altruist
! Can't wait to share the release notes with our users soon. 😊
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Found this on LinkedIn today and nearly shed a tear of joy 🥲. Super proud of our team and the difference they are making.
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Awfully cool day for me.
@altruistcorp
official release and officially closing on my latest venture
@OceanaGolfClub
. Super excited about the people and work we'll be doing at both. computer💻+⛳️
Congratulations
@jasonwenk
proud golf course owner
@OceanaGolfClub
thank you
@shelbystatebank
@ericfixattorneyatlaw
@klotz6
@KaylaWenk
. Ink might not be dry, but neither are my eyes. 🙏
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If you’re pursuing what is right, keep doing it. Relentlessly. Not just to spite the haters, but for the good of those you’re trying to help. 🤟🏼
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Hard to believe I’ve been at it 21 years, trying to make financial advice better and more inclusive. If you need a nudge in your own journey, have a watch,
@DasarteYarnway
is a masterful interviewer.
The origin story you’ve been waiting for.
Altruist’s CEO + Founder
@jasonwenk
spoke with
@dasarteyarnway
on his decades-long mission to serve more people with great financial advice. Tune in to The Human Advisor →
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Thursday is going to be a fun day. Altruist office hours in the morning, and....
My first Reddit AMA at Noon Pacific! Jump in and use any identity you want to ask any question you want. Be serious, make fun of me, it's all fair in an AMA. :)
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Last week I was using
@altruist
to do some end of year TLH, wrap up a couple fully digital RMDs, and make some allocation changes for clients to make sure they were properly setup for 2024 and beyond.
Even though I get a front row seat and have an active role in building the
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Happy to be hosting a live demo of Altruist on January 15. Showing all the v1 features, and revealing how you can sign up to be one of the first 50 RIAs with full access on January 21. Register here 👇🏼
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“Nearly 20% of Schwab-affiliated advisors said they plan to change or add custodians in the next year…the most attractive alternative appears to be Altruist; Almost 12% of advisors who custody with Schwab said they are considering adding or switching to Altruist.”
The
@t3techhub
survey revealed a dynamic shift among Schwab RIA custody clients.
RIAs looking for change, Altruist was named as the top custodian advisors are considering switching to 🔥
Read more about it from
@CitywireRIA
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The
@altruist
team is now 150+ and growing fast. If you want to help make financial advice better and more inclusive, check out the nearly 40 openings we have, including many that are fully remote.
#fintech
#peoplefirst
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I don't do many appearances and pass on most speaking gigs. So most people don't know I've built some rather large RIA firms, rather unconventionally. When
@pbrewcfa
asked me to be on his show the timing felt right. Hope it helps inspire the next wave of great FAs and innovators.
Model FA Podcast S2 EP07: Produce Meaningful Business, Not Just Popularity. “Are you wanting to help people or are you wanting to only help RICH people?”
Listen to the podcast ==>
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Just watched
@des_linden
casually whoop every human in the field at the
#JeffDrenthMemorial
5k in 16:47 🤯
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Just saw 2 financial advisors that looked like my dad using TikTok to create weird marketing videos. I don’t even know how to respond but feel a little nauseous.
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My heart hurts for anyone facing racism and innequity. The killing is infuriating. Change is overdue and we all need to do our part. If you’ve been struggling with how you can help, please visit to learn, donate, and organize.
#BlackLivesMatter
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I've had no less than a dozen VC's reach out on the heels of
@viseinc
's capital raise with lots of "seems like validation of needed disruption in the advisor space" type messages. Kudos
@samir_vasavada
and
@RunikM
on fueling the fire in this space. 👊
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Looking forward to San Diego with a few hundred friends this week 😎
It’s the day before the kickoff of the first-ever Advisor Summit, and San Diego is gracing us with a beautiful day ☀️
Who's ready to join us tomorrow?
Let us know below 👇
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More to come, but to tease what we’re up to, we’ll be turning client acquisition on its head. No more expensive lead programs and no more client referrals only for the largest RIAs (like old custodians). Welcome to the crew
@Brittneycastro
, looking forward to disrupting together.
So excited to join
@altruistcorp
as their Head of Education where I will spearhead their upcoming content network & investor learning segment titled “Advice by Humans.”This will be amazing work in addition to the client work I do to help more become financially wise & educated!
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In other RIA custody news,
@altruistcorp
is hiring. If you or someone you know is kind, brilliant, and has the grit to work at a startup, check out our open roles. ✌️
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Industry first fully digital move money for advisors! 🎉 Send ACH or wire to clients bank, a couple clicks. Transfer from NQ account to fund Roth, a couple clicks. It’s a giant leap in both client experience and advisor productivity.
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Really proud of the team behind our direct indexing solution. We’re setting a new industry standard on accessibility ($2k min) and affordability. And, we’re just getting started.
💥 We’re excited to announce that the Altruist Strategist suite is now available! Advisors, give your clients access to direct indexing via our model marketplace for more choices to deliver low-cost, tax-aware ways to invest their money.
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If you’re planning to start your own RIA (congrats!), have a read. Our very own CCO, Mazi Bahadori, shares how easy it is to launch with a simple RIA startup checklist.
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A thought about the future of financial advice 💭
In 20 years, millennials will be old. 10 year olds, today, will be your future clients.
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If, hypothetically,
@altruist
hosted an annual conference, what would make it the most impactful event for financial advisors? Any must-see speakers? Favorite authors?
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Pretty surreal to have
@MichaelKitces
join
@dasarteyarnway
and I on the podcast and get to pepper him with questions! And he was awesome!
Listen to a new episode of The Advisor Journey as
@JasonWenk
&
@DasarteYarnway
delve into the brilliant mind of
@MichaelKitces
.
From AI to advisor tech & content creation, Michael shares best practices for today + insights for the future of advisory.
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Incredibly proud of my friends
@emilesmattingly
and
@DasarteYarnway
on the launch of
@onyxadvisors
!
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Whoa. Based on this math when we launch free advisor lead gen, client intros, and automated referrals at
@altruistcorp
, it's going to completely change the game.
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👀
The team is in NYC this week for an exciting announcement.
More to come shortly, stay tuned! 👀
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With a few exceptions I find industry events a bore. The same content over and over. We try our best to make these smaller, regional events different.
Lots of personal time with guests, and a focus on 3 core themes: how to be a better planner/advisor, how to grow your business,
Day 1 of Altruist Academy Nashville was off to a great start yesterday.
A keynote on the future of custody by
@jasonwenk
, followed by Altruist's Head of Investments, Adam Grealish, discussing how to maximize value, capped off with a happy hour.
Who's ready for Day 2?
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Very sad day. I’ll be off Twitter a bit just trying to spend some time with my kids. ✌🏼
#ripkobe
We all want our kids to be the best version of themselves and dream as big as they can to reach their highest potential. But chasing a dream takes a lot of courage. That’s what I want kids to learn by reading our novels.
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Fintech vendor: What’s your biggest pain point?
Advisor: Costs
Fintech vendor: What can we build you that you’d pay us more for?
Advisor: 🤬
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Our first planning integration is now live. Stoked to bring
@RightCapitalHQ
and
@altruist
together for modern advisors that love delighting their clients.
🎉Our new integration with
@RightCapitalHQ
is live! Keep your clients on track with up-to-date financial information and automatic financial data syncing from Altruist. And did we mention no more manual data re-entry?
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I've gotten an unusual amount of
@XYPlanning
members reaching out, wanting to know if
@altruistcorp
would be joining the network. We'd be more than happy to support these planners.
@R_Alan_Moore
&
@MichaelKitces
, let me know when/if you wanna chat.
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It was real and more than I could’ve asked for. Thanks
#WealthStack
for an amazing conference. ✌🏼
#xypnlive
bound ✈️ see you all soon.
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Dang
@robertsofia
and
@SnappyKraken
knows how to host a conference 🙌🏼. Thanks for letting me snag time with the crowd this morning. Incredible energy. So good to see all my virtual friends irl. 🙏🏼
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