Vanguard to Acquire Altruist to Expand RIA Custody and AI Wealth Tech

Vanguard has agreed to acquire Altruist, an AI-focused wealth technology and custody platform serving independent financial advisors, in a move aimed at expanding access to financial advice and strengthening Vanguard’s reach into the RIA market. Altruist combines self-clearing brokerage capabilities with technology for trading, portfolio management, billing, reporting and automated rebalancing. Following the acquisition, Altruist will operate as a standalone business, retaining its brand, leadership and advisor-focused model while gaining access to Vanguard’s scale and investment resources. Financial terms were not disclosed, and the transaction is expected to close later in 2026, subject to regulatory approvals.