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New in May 2023: Advanced analytics upgrade, Benchmark expansion

Advanced Analytics upgrades

As an independent advisor, you know that an ideal investment strategy focuses on diversification, risk management, and balancing yield and expenses. Fresh off of adding new breakdowns by asset class, sectors, and key metrics related to yield and expenses in March, we just released more characteristics in our Advanced Analytics modal on the holdings tab for each household and account: 

  • Equity style box exposure
  • Regional breakdown
  • Fixed Income yield metrics

With this upgraded portfolio reporting, you'll better convey your investment strategy to clients with easy-to-understand visuals, solidifying their confidence in your expertise and justifying the fees you charge. These improvements will also help you evaluate portfolio performance with several breakdowns and measures that will allow you to make well-informed decisions.

Fund substitutes added to Model Marketplace

Marketplace models now have designated substitutes for mutual funds and ETFs. This will enable Altruist advisors to use these models for tax or transition management.

You can view substitute designations by navigating to the Model Marketplace Holdings Drawer, where a new Substitute column will display any applicable substitutes for the ETFs and mutual funds in the model. 

The asset manager currently designates fund substitutes. In June, we plan to release an enhancement to this feature that will allow you to customize your own substitutes to Model Marketplace models.

Expanded Universe of Benchmarks

We’ve introduced an expanded universe of benchmarks to empower financial advisors to access a wider range of securities, enabling them to build custom benchmarks that track performance against client goals with greater context and precision. 

Key Features include: 

Increased Benchmark Options: Altruist advisors now have the flexibility to search for and select any ETF or mutual fund available in Morningstar as a benchmark component. This expanded universe of benchmarks provides advisors with a comprehensive selection of approximately 27,000 securities to choose from when creating or editing benchmarks.

Delisting Notifications: Our platform is now equipped to notify advisors promptly when a benchmark component security is delisted with daily refreshing. This ensures advisors are quickly aware of any changes in the availability of securities within their benchmarks. In-app notifications prompt advisors to replace the affected component with a suitable alternative.

Data Feed Integrity: We understand the importance of accurate and reliable data for benchmarking. To ensure transparency and reliability, our platform notifies advisors in-app if benchmark data becomes temporarily unavailable due to an interruption or error in our data feed from Morningstar. This proactive notification system ensures you are informed of any disruptions and can take appropriate actions accordingly.

Seamless Benchmark Sharing: To facilitate effective communication with clients, advisors can easily share a comprehensive view of benchmark data alongside portfolio performance and characteristics through two channels. Advisors have the option to set up a Performance Summary Email schedule, delivering comprehensive benchmark data directly to clients' inboxes. Alternatively, advisors can generate an Investment Summary Report PDF, which includes benchmark data, and share it via email.

By expanding the universe of benchmarks, we aim to equip advisors with the necessary tools to align investments with client goals by offering a comprehensive overview and facilitating more informed investment decisions.


New house account types: C and S corporations

We are thrilled to share that we can now onboard RIAs listed as C Corporation or S Corporation. This update removes the previous restriction that prevented these designated firms from working with us, allowing them to leverage our platform's capabilities fully.

New alerts when clients change their email address 

As a modern custodian committed to keeping your and your clients' personal information safe, we just enabled a new notification you can opt-in for to be alerted if your client changes their email address. 

To enable notifications for this or any other client activity, follow these steps: 

Step 1: Select your advisor avatar located in the upper right-hand corner of Altruist. 

Step 2: Select Settings and click on Notifications

Step 3: Toggle your notification preferences on or off.  The new notification is titled Change of Email.

Advisor 123 added to the Altruist Model Marketplace

Not just another fund shop, the Advisor 123 team leverages Altruist for their own client-facing RIA, giving them a unique perspective on what it takes to grow your practice. They are in the trenches alongside you, delivering practical and intentional guidance as a true partner.

We recently sat down with the founding team: Head of Investment Strategies Derek Prusa, Head of Business Development Andrew VanDerSchaaf, and Head of Financial Planning Benjamin Webster to discuss their unique ties with Altruist and Jason Wenk, how their thinking on investment management has evolved over the years, and key considerations when choosing investments.

Check out our Q&A with them here

Advisor 123 offers a rules-based, emotion-free approach to investment management, with an added focus on cost efficiency. You can access the wide lineup of strategies, ranging from passive to more tactical in nature between only 18 - 24 bps/yr starting today.

Advisor 123 is the 17th industry-leading asset manager to be added to our Model Marketplace, which now comprises over 330 total portfolios for advisors to select from–all at an industry-low price. To visit the complete list of available models, click on Investing → Marketplace when logged into Altruist. 

Improvements to how model/portfolio updates apply to accounts

Model and portfolio changes now process asynchronously in the background, so you can move on to your next task without waiting for the update to complete. And if you're unsure, you can verify the status of an update from the Models or Portfolios pages.

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