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Vanguard to acquire wealth tech platform Altruist
Altruist raised $601.5 million across seven rounds, including a $152.0 million Series F in 2025, before agreeing to the acquisition.
Vanguard has entered into an agreement to acquire Altruist, a wealth technology and custody platform that serves registered investment advisors, according to Coverager.
The article says financial terms were not disclosed. Founded in 2018, Altruist has raised $601.5 million across seven funding rounds, including a $152.0 million Series F in 2025.
Altruist’s platform includes self-clearing custody and tools for account opening, trading, portfolio management, billing, reporting, and automated rebalancing, Coverager reports. It also operates Hazel, an AI platform that combines real-time custodial data with information from advisors’ CRM systems, emails, and notes to support financial and tax planning.
After the transaction, Altruist will operate as a standalone Vanguard business, retaining its brand, leadership, advisor focus, and operating model. The article also notes that Altruist’s later-stage funding adds to a previously undisclosed $110 million Series C raised in November.