Reduce client taxes with TaxIQ. Learn More.
Case Study
Why Windle Wealth is moving $150m to Altruist

Learn more about DJ Windle's decision to take his business from TDA to Altruist.

See for yourself
explore product
Take a self-guided tour
Get time savings and personalization without the 50+ bps price tag. Explore product

What the T3 survey says about the future of custody

With the Kitces Advisor Tech map growing at an exponential rate, where should advisors turn for guidance around technology decisions? The short answer: T3.

T3’s annual survey addresses the most fundamental and important questions about advisor technology. The survey is a source of rich insights, providing data not only around the tools the advisor community uses today, but also the solutions firms are considering for the future, and the overall direction of the fintech marketplace. 

This year’s survey collected data from nearly 3,000 respondents, with a 55/45 split between firms doing less than $1M in revenue annually and more, respectively. The survey is the most robust data set in the industry, with broad promotion through neutral 3rd parties to eliminate bias. 

How did Altruist score?

Very well. Regarding the scoring methodology, the T3 authors note that “any rating of 7.25 or above represents a high degree of user satisfaction, and a figure above 8.0 should be considered remarkable”. In 2023, Altruist’s average rating was 8.23. 

In 2024, on the heels of our self-clearing conversion and broad expansion of features and functionality, Altruist’s rating rose to 8.51. While this was an incredible result, there is still work to be done to make switching to Altruist the obvious and objectively best decision for interested RIAs. 

Advisors looking to switch

Despite the perceived pains of “repapering” clients, nearly 20% of Schwab-affiliated advisors and 17% of Pershing-affiliated advisors are currently considering a new custodian or custodial relationship. Amongst all advisors considering a change within the next 18 months, Altruist was the top choice. 

As authors Bob Veres and Joel Bruckentstein explain, “[W]hat we see is that almost 12% of advisors who custody with Schwab are considering adding or switching to Altruist.” We believe this can be attributed to the ease of transition, and the results advisors are seeing for their firms and their clients. For example, switching to Altruist from Schwab helped Steward reduce client onboarding time by 91%.  

Built for RIAs (and designed for better client outcomes)

"I love that Altruist is truly on 'our side' as fiduciaries (and fee-only advisers). It gives me hope that there is now a choice: an honest company that wants to truly help serve advisors and their clients."
Kathleen Owens, Aurora Financial Planning and Investment Management

In the 5 years since launch, Altruist has ascended to the third-largest custodian by advisors served – a testament to the RIA market’s desire for a modern, service-oriented, and purpose-built custodian. 

By innovating across technology and service, we aspire to create a future where any person can easily find a perfect-fit advisor, and where every RIA, whether established or emerging, can easily discover and serve clients who align with their expertise, at their desired scale.

To learn more about Altruist, connect with our team today and see if you’re a fit.

New call-to-action

Altruist and our affiliates did not pay for this testimonial, but we do earn revenue from financial advisors who use our platform. This customer review may not represent the experience of others and it isn’t a guarantee of results, but we’d love the opportunity to show you firsthand.

Never miss an Altruist blog post.