Altruist

RIAs who work with Charles Schwab have long worried Schwab competes with them for business. Could Vanguard's pending purchase of Altruist put Altruist RIAs in the same position?

After his firm agreed to one of the most impactful deals in wealth management of 2026, Altruist CEO Jason Wenk sat down with FP to discuss the negotiations, his firm's strategy and the new tool he says can build higher-quality plans in much less time.

Industry experts say custodial firms' services have largely become "commoditized." The acquisition of Altruist opens the door for Vanguard to have cutting-edge services related to tax planning, cash sorting and more.

Altruist has earned legions of fans among financial advisors for sleek technology and low, clear fees. But its critics question whether that is enough to catch up to the giants that have dominated the business for decades.

Wealth management and tax planning stocks tumbled after Altruist launched an AI tool for tax strategies, stoking investor fears of disruption and fee compression.

Founder Jason Wenk discussed the rapid rise of his firm, his plans for AI, a coming Netflix show with a "cool" name and more.