Altruist expands alternatives marketplace with pre-IPO investment opportunities

Advisors can help eligible clients explore select late-stage private-company opportunities through special purpose vehicles within the Altruist platform.

LOS ANGELES--(BUSINESS WIRE)--Altruist, an AI-forward wealth technology and custody platform for financial advisors, announced today the expansion of its alternatives marketplace to include pre-IPO special purpose vehicles, or SPVs.

This new offering gives advisors a way to help eligible clients explore select opportunities to invest in late-stage private companies before they go public, without adding a separate platform to the advisor’s workflow. Advisors can browse available and prospective offerings, submit indications of interest for opportunities that may become available, and complete eligible subscriptions through Altruist when an offering opens.

The expansion comes as interest in private markets continues to grow and companies are staying private for years longer than they used to. Just 2% of companies that first raised venture funding in 2009 had gone public within seven years, down from 26% for the 1994 cohort, according to Nasdaq. For advisors, that means a widening share of a company’s growth happens before they hit public markets, and clients are increasingly asking their advisor to become a part of it.

“Advisors that custody with Altruist now have a simple way to support eligible clients who have expressed interest in investing in late-stage private companies," said Jason Wenk, founder and CEO of Altruist. “Access to new investment opportunities can be a real differentiator for advisors that are looking to grow their business and attract new clients.”

Access to pre-IPO investing has historically lived outside the custodian relationship, often requiring a separate broker, login, and process for every client. Altruist brings a streamlined approach to pre-IPO investing, with subscription paperwork that can be completed in minutes, not weeks.

Advisors can also track private companies ahead of time, so they’re ready to act when an opportunity opens. Through Altruist, advisors can complete the subscription workflow in one place, including digital signatures, and view pre-IPO positions alongside their clients’ other traditional and alternative investments.

About Altruist

Altruist is an AI-forward wealth technology and custody platform for financial advisors, offering a fully integrated digital experience 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, portfolio management, billing, and reporting. With Altruist, financial advisors can create custom portfolios, trade fractional shares, access alternatives and margin, automate rebalancing, and provide clients with a sleek web and mobile app experience. Learn more at altruist.com.

The pre-IPO opportunities available through Altruist Financial LLC (“Altruist”), member FINRA/SIPC, are sourced and sponsored by its partner, Monark Capital Management LLC. Altruist facilitates the subscription and custody process but does not sponsor or manage the underlying offerings. Availability is limited and not guaranteed. Availability of pre-IPO opportunities varies, and there may not always be a live offering available. Participation in each offering is subject to offering availability, limited capacity, fund-manager approval, applicable eligibility requirements, and the terms of the offering. Pre-IPO SPVs are available only to accredited investors; both the advisor and client must attest to the client’s accredited-investor status before a subscription can be completed. Fees and expenses vary by offering and are disclosed in the applicable offering materials.