Altruist Wins Datos Insights Award for Innovation in Clearing and Custody
Altruist has been named the winner of the 2025 Datos Insights Impact Award for Best Innovation in Clearing and Custody within the wealth management category. This prestigious recognition highlights Altruist’s breakthrough in creating a vertically integrated custodial platform—a system that unites real-time automation, embedded AI, and a mobile-first design to transform how registered investment advisors (RIAs) manage clients, streamline operations, and scale their businesses efficiently.
A New Standard for Custody and Clearing
Since its founding, Altruist has set out to reimagine the wealth management experience by combining advanced technology with user-first simplicity. In just seven years, the company has evolved from a disruptive startup to a full-scale independent custodian, capable of competing with the largest and most established firms in the financial industry.
Altruist’s end-to-end platform supports every stage of the advisor workflow—from mobile-first client onboarding and instant account validation to fractional share trading, automated rebalancing, and high-yield cash management. What sets Altruist apart is its proprietary AI assistant, Hazel, which empowers wealth professionals with intelligent insights, compliance automation, and data-driven recommendations designed specifically for advisory practices.
Record Growth and Industry Recognition
The award comes on the heels of a record year of growth for Altruist. According to the 2025 T3 Software Study, the company posted an impressive 119% year-over-year custody growth, making it the fastest-growing RIA custodian in the market. This milestone underscores how Altruist’s integrated model is reshaping advisor technology and delivering measurable business impact.
“Our approach to custody has always been about removing friction,” said Mazi Bahadori, Chief Operating Officer at Altruist. “We’ve redesigned every part of the advisor experience so that processes that used to take weeks—like account openings, funding, or compliance—now happen in seconds. We built Altruist from the ground up to help advisors work faster, smarter, and serve more clients without adding complexity. This award validates our belief that vertical integration isn’t just a technical choice—it’s the future of wealth management.”
Why Altruist Stands Out
Altruist’s innovation centers on solving the long-standing pain points of RIAs, who often juggle multiple systems for trading, reporting, and compliance. By consolidating these processes into one intuitive interface, the platform enables advisors to reduce manual work and refocus on what matters most: serving clients and growing their practices.
With its mobile-first design, Altruist enables advisors to onboard entire households in under 60 seconds, eliminating traditional bottlenecks in the client setup process. The embedded AI not only automates routine tasks but also learns from advisor behavior, suggesting optimizations that can enhance efficiency and improve outcomes for investors.
“Altruist’s platform demonstrates what’s possible when technology is purpose-built for advisors,” said Wally Okby, Strategic Advisor at Datos Insights. “Advisors using Altruist can save up to 10 hours per week on administrative tasks, while the company continues to post nearly 120% year-over-year market share growth and triple-digit AUM growth for three consecutive years. With a 45% increase in the average firm size served, Altruist has proven that modern, integrated infrastructure can drive both scalability and operational simplicity.”
Transforming the Advisor Experience
The Datos Insights Impact Awards recognize financial institutions that are raising the bar for innovation and client experience through transformative technology. In the Clearing and Custody category, honorees like Altruist are celebrated for redefining the advisor back office—traditionally a source of inefficiency—into a hub of digital speed, security, and intelligence.
For Altruist, this award represents more than industry validation; it marks a pivotal step toward reshaping the wealth management landscape. The company’s mission is rooted in democratizing access to better financial outcomes—not just for investors, but for the advisors who guide them.
By combining deep automation, intuitive design, and embedded intelligence, Altruist is proving that a modern custodial platform can deliver both scale and personalization. As wealth management firms face growing regulatory complexity and client expectations for digital-first service, Altruist’s model demonstrates how innovation can simplify operations while expanding impact.
As Bahadori noted, “Advisors today need infrastructure that keeps up with their ambitions. We’re not just modernizing custody—we’re building a future where every advisor, regardless of size, can offer institutional-grade experiences. This recognition from Datos Insights reinforces that we’re on the right path.”
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