Altruist Expands Leadership Team with New Chief Business Officer to Drive Growth and Industry Presence

Former Google and Meta Executive Brings Deep Expertise in Scaling Businesses and Bringing Cutting-Edge Technologies to Market

LOS ANGELES--(BUSINESS WIRE)--Altruist, the modern custodian transforming the registered investment advisor (RIA) industry, has named Rich Rao its Chief Business Officer (CBO). Rao, a recognized leader in scaling businesses and optimizing go-to-market strategies, has held executive roles at Google, Meta, and Intuit. He will drive Altruist's market expansion, strengthen advisor partnerships, and ensure sustainable growth as the company redefines custody for independent financial advisors.

"The best companies combine exceptional products with hyper-efficient go-to-market engines," said Jason Wenk, Founder and CEO of Altruist. "Rich’s career has been defined by taking transformative products to market in key leadership roles.”

Rao has helped scale some of the world's most recognized technology companies. At Google, he was instrumental in turning Google Workspace into a multi-billion-dollar enterprise solution. He later led the Small Business Group at Meta, driving a significant portion of the company’s revenue growth and scaling the organization. In his most recent role as Chief Sales Officer at Intuit, Rao led the acceleration of the company's growth by launching a new product and go-to-market motion to serve larger businesses.

"Altruist is at a defining moment, bringing innovation to an industry in desperate need of modern solutions to enable the growth of their businesses," said Rao. "I'm excited to accelerate and scale Altruist's impact in the multi-trillion dollar RIA market with a solution that advisors depend on."

Altruist's continued investment in top leadership underscores its commitment to long-term industry leadership. The recent addition of Sumanth Sukumar as Chief Technology Officer further reflects the firm's focus on building an enduring and trusted financial services platform.

About Altruist

Altruist is the modern custodian for independent RIAs. Altruist combines a self-clearing brokerage firm with intuitive software for account opening, trading, reporting, and billing – all in one streamlined solution. With Altruist, advisors can create custom models, trade fractional shares, automate rebalancing, and share performance insights with clients using a modern mobile app. Learn more at https://www.altruist.com and follow Altruist on Twitter @altruist.