Altruist, the modern custodian built exclusively for registered investment advisors (RIAs), announces the appointment of Marc Greenberg as the firm’s Chief Financial Officer.
Prior to joining Altruist, Greenberg spent 16 years in finance and strategy leadership at Pixar, and most recently served as the CFO of Blend where he led the company through critical growth stages and ultimately to their initial public offering in 2021.
Greenberg is joining the firm at a pivotal moment in Altruist’s evolution and one he has seen before. At Blend, Greenberg helped scale the company from 300 to over 2,000 full time employees and grew revenue to over $300M annually. The appointment comes on the heels of several major developments including the acquisition of award winning custodial platform Shareholders Service Group and the announcement of a $112 million series D. Having tripled assets under management in 2022 and posting revenue growth of over 1,700% year on year, Altruist is on track to achieve profitability in the coming months.
With a skillset that spans both innovative fintech enterprises and the creative powerhouse Pixar, Greenberg brings a dynamic perspective to Altruist's pursuit of redefining custody for independent financial advisors. His experience in corporate and product finance, budgeting, risk management, and strategic planning will be an accelerant to Altruist’s exponential trajectory.
“I greatly admire what Altruist has accomplished in just 5 years. Jason [Wenk]’s mission of making financial advice better, more affordable, and accessible to everyone deeply resonates with me,” said Greenberg. “In an industry that’s dominated by a few legacy players, Altruist’s growth signals a serious appetite for innovation. Nearing profitability in a capital intensive business in such a short period of time is a strong market validation.”
Altruist’s vertically integrated approach makes it the first company ever to offer RIAs a solution that combines a self-clearing custodian with a fully-digital suite of advisory software. With the rapid development of Altruist’s product capabilities and the addition of key executives, the company is positioned to disrupt the stranglehold that institutional giants like Charles Schwab and Fidelity have on the RIA market.
“Marc’s alignment with our core operating principles and commitment to understanding the nuances of our business make him an incredible asset to Altruist,” said founder and CEO, Jason Wenk. “As we scale, it’s essential that we’re assembling a leadership team with the powerful combination of day-to-day operational excellence and the ability to think in decades. Marc fits that bill perfectly. We’re excited to bring him onboard as we continue building the modern custodian that RIAs deserve.”