-

Altruist Welcomes Bone Fide Wealth, a $100M Millennial-Focused RIA, to Its Platform

Forward-thinking New York advisory firm chooses Altruist's modern custodian platform to enhance client experience and empower the next generation of investors

LOS ANGELES--(BUSINESS WIRE)--Altruist, the modern custodian for independent registered investment advisors (RIAs), today announced that Bone Fide Wealth, a New York City-based wealth management firm with approximately $100 million in assets under management, has joined the Altruist platform.

Founded by Douglas Boneparth, CFP®, Bone Fide Wealth is nationally recognized for serving high-achieving millennials and young families. To better meet the expectations of their tech-savvy clients, Boneparth switched to Altruist.

“When we tested Altruist, it was night and day: old tech rails versus new tech rails,” said Douglas Boneparth, President of Bone Fide Wealth. “It streamlines everything, and that’s exactly what we need to keep delivering for millennials now and Gen Z in the future.”

With Altruist, account opening and implementing direct indexing went from a multi-step process to just a few intuitive clicks. By consolidating portfolio management, trading, reporting, and billing into a single environment, Altruist is saving the firm significant time and eliminating the need for multiple third-party tools. On average, RIAs reclaim 10 hours each week when they switch from a legacy custodian to Altruist.

Heather Boneparth, Director of Business and Legal Affairs, emphasized that the switch aligns with the firm's goal of making finances more inclusive for couples and families. "It’s scary how often one partner controls the logins while the other is left in the dark,” Heather said. “You can’t call it comprehensive planning if both aren’t at the table. With Altruist, both partners can easily log in, see the same information, and stay equally engaged in their financial lives.”

Now, Bone Fide Wealth is positioned to keep delivering on the mission it was built for: helping millennials and future investors navigate life’s most dynamic decades.

"We are thrilled to welcome Bone Fide Wealth to Altruist," said Jason Wenk, Founder and CEO of Altruist. "Doug and his team have built an incredible practice by putting clients first and embracing innovation. The future of financial advice is all about access – access to great advice, access to intuitive technology, and access for more people to participate in their financial lives."

About Altruist

Altruist is the modern custodian for independent RIAs, offering a fully integrated digital platform that makes managing investments and serving clients simpler and more affordable. Altruist combines a self-clearing brokerage firm with intuitive software for account opening, trading, reporting, and billing. With Altruist, financial advisors can create custom portfolios, trade fractional shares, automate rebalancing, and provide clients with a sleek web and mobile app experience. Learn more at altruist.com.

About Bone Fide Wealth

Bone Fide Wealth, LLC is a boutique wealth management firm based in New York City, specializing in helping millennials and young professionals achieve their financial goals. Founded in 2016 by Douglas Boneparth, the firm manages approximately $100 million in client assets, providing comprehensive financial planning and investment management services.

Douglas sits on advisor councils for CNBC and Investopedia, and serves as a CFP Board Ambassador. Douglas and Heather Boneparth are the co-authors of The Millennial Money Fix (2017) and an upcoming book, Money Together (2025). For more information, visit bonefidewealth.com.

Contacts

Media Contact:
Samantha Walker
sam@gregoryfca.com
610-246-9928

Altruist


Release Versions

Contacts

Media Contact:
Samantha Walker
sam@gregoryfca.com
610-246-9928

More News From Altruist

Altruist Introduces AI-Powered Tax Planning in Hazel, Helping Advisors Deliver Tax Strategies in Minutes

LOS ANGELES--(BUSINESS WIRE)--Altruist, the tech-forward wealth platform for independent advisors, today announced the launch of a new tax planning offering within Hazel, its transformative AI platform. The new capability helps advisors create fully personalized tax strategies for clients by reading and interpreting their 1040s, paystubs, account statements, meeting notes, emails, and custodial and CRM data, and applying deep tax logic to the analysis. All of this is done within minutes. “Tax p...

Altruist Named Custodial Partner for $900M Lifeworks Advisors

LOS ANGELES--(BUSINESS WIRE)--Altruist, the tech-forward wealth platform for independent advisors, today announced that Michigan-based Lifeworks Advisors has selected Altruist as its custodial partner. Lifeworks Advisors, which serves more than 2,000 households, is focused on building a more efficient, technology-enabled advisory practice. After evaluating legacy custodial providers, the firm selected Altruist for its intuitive user experience and ability to materially reduce the cost and compl...

Altruist Debuts Industry-First Custodial Integration for its Transformative AI Platform, Hazel, Bringing Real-Time Account Data Into Every Advisor Conversation

LOS ANGELES--(BUSINESS WIRE)--Altruist, the tech-forward wealth platform for independent registered investment advisors (RIAs), today announced that Hazel, its powerful AI platform, can now uniquely draw on real-time Altruist account, beneficiary, household, holdings, and balance data to answer questions, respond to clients with speed, and provide a highly personalized financial planning experience. For example, Hazel can perform a household-level concentration analysis, surface asset-class or...
Back to Newsroom