Public company, workplace, funding, and market signals
Updated Aug 16, 2026
Altruist is a privately held fintech company that provides a self-clearing brokerage, custody, and integrated wealth-management platform for independent registered investment advisors (RIAs). Its mission is to make financial advice better, more affordable, and more accessible.
Primary product
An integrated RIA custody and wealth platform covering digital account opening, custody, trading, portfolio management, billing, reporting, client portals, integrations, and AI tools including Hazel.
Founded
2018
Headquarters
3030 S La Cienega Blvd, Culver City, California, United States
Team size
Approximately 300-400 employees; third-party sources reported about 398 employees in October 2025, following layoffs.
Work style
Hybrid
Industry
Financial services
Sub-industry
Fintech; RIA custody, brokerage, wealth-management software, and portfolio-management technology
Offices
Business model
Stage
Series F / late-stage private company
Total raised
$601.5M
Latest round
Series F · Apr 2025
Latest amount
$152M
Apr 2025 · GIC
May 2024 · ICONIQ Growth
Apr 2023 · Insight Partners and Adams Street Partners
Nov 2021 · Declaration Partners
May 2021 · Insight Partners
Series A / follow-on financing
Jan 2021 · Venrock
Nov 2019 · Venrock
Leadership
Chief Executive Officer and Founder
Chief Operating Officer and Chief Compliance Officer
Chief Product Officer
Amit Miglani
Chief Financial Officer
Piret Loone
Dan Petty
Chief Information Security Officer
Michelle Shotts
Senior Vice President of Customer Success
Anna Wiggins
Vice President of Marketing
Robert Mennow
Vice President of Sales
Adam Grealish
Vice President of Product
Nimesh Patel
General Manager of Enterprise
Kunal Joshi
Vice President of Engineering
Rich Rao
Chief Business Officer
The company describes itself as thoughtful, fast-growing, and oriented toward high achievers. Its stated culture emphasizes customer relationships, high standards, rapid product development, collaboration, and making financial advice more accessible. The company shifted from predominantly remote work to a hybrid model requiring most employees to work from an office three days per week.
Work style
Hybrid
Compensation
Public careers materials mention competitive compensation and equity for all employees, but do not provide standardized salary bands. Public job postings and sponsorship policy should be checked role by role.
Benefits
Pricing
Core software fees were eliminated for RIAs in 2023. Altruist generally uses transparent brokerage and custodial fee schedules, with $0 commission trading for stocks and ETFs, other brokerage/product fees where applicable, and optional paid products. Altruist One is priced at 0.01% per month per household, or 1 basis point monthly. Hazel has been reported at $60 per seat per month or $600 annually when purchased as a standalone product.
Differentiators
Technology
Customers
Competitors
Estimated revenue
Approximately $30M-$40M annually; one third-party estimate lists $37.5M. Other data providers publish substantially higher, less-supported ranges, so this should be treated as directional rather than reported revenue.
Estimated monthly visits
418K
Traffic estimate as of Jun 2026
Altruist cut approximately 10% of its staff, reported as about 37 employees from a starting workforce of roughly 460. The company characterized the action as a strategic effort to align roles with its mission and focus investment on product, growth, and innovation.
SourceFollow-up reporting described the January cuts as approximately 8% and said the company was simultaneously hiring for engineering, AI, product, and go-to-market roles.
SourceAltruist confirmed a second 2025 reduction affecting at least 24 employees, leaving headcount just under 400 and approximately 16% below its late-2024 peak. The company said it had broadened its focus too much and was reprioritizing resources.
SourceAltruist acquired Shareholders Service Group (SSG), adding more than 1,600 advisors and supporting its move into self-clearing custody.
SourceAltruist acquired Thyme, an AI-powered assistant for financial advisors, with plans to relaunch it as Hazel.
SourceThe company announced a transition to a hybrid work model in which most employees would work from an office three days per week. The change created potential retention and relocation risk for remote employees.
SourceInvestmentNews · Oct 2025
InvestmentNews reported that Altruist reduced staff by roughly 15% in a second 2025 layoff round, while CEO Jason Wenk said revenue growth remained strong and the company had a path to profitability.
Altruist · Jun 2025
Altruist announced its acquisition of Thyme, an AI assistant for financial advisors, and said it would relaunch the product as Hazel.
Reuters · Apr 2025
Altruist raised $152 million in Series F funding led by Singapore sovereign wealth fund GIC, bringing total reported funding to $601.5 million and valuation to approximately $1.9 billion.
Altruist · Mar 2025
Altruist announced Sumanth Sukumar as CTO, highlighting his prior engineering leadership at Coinbase, Uber, and Facebook and his mandate to build a high-performance engineering organization focused on AI and infrastructure.
Business Wire · Apr 2024
Altruist announced a simplified pricing schedule, eliminating or zeroing more than 50 fee line items and emphasizing commission-free equity and ETF trading and lower-cost mutual-fund trading.
47 jobs at Altruist