Vanguard snaps up US wealthtech platform Altruist

Following the deal's close, Altruist is expected to operate as a standalone business, retaining its leadership, brand, adviser focus, and operating model under Vanguard's ownership. This structure is intended to preserve the speed, entrepreneurial culture, and proximity to advisers, while giving the company greater resources to invest and innovate, Altruist said. Meanwhile Vanguard will gain direct access to Altruist's technology and adviser platform. Terms of the transaction were not disclosed although the Wall Street Journal, citing people familiar with the matter, reported that ...