This Altruist One Agreement (the “Agreement”) sets forth the terms and conditions for a registered investment adviser (“RIA” or “Adviser”) to subscribe their end client (“Client”) to the Altruist One subscription (“Altruist One”), as described herein. 

Altruist One is a subscription-based membership through which Clients can receive access to certain premium features and benefits. These premium features and benefits include: 1) the ability to participate in the brokerage cash sweep programs (including through High-Yield Cash and the Bank Sweep Program)  with a preferred annual percentage yield (APY) rate; 2) the ability to receive reduced or waived fees on mutual fund transactions and fixed income transactions as outlined in the Altruist Financial LLC Fee Schedule; 3) the ability to receive reduced or waived fees on tax management as outlined in the Altruist LLC Fee Schedule; and 4) the ability to receive reduced or waived model marketplace fees. Additional details on the features and benefits are below.

Altruist One membership requires a subscription which generally costs 0.01% (1 basis point) of assets in a subscribed Client account per month (the “Subscription Fee” or “Altruist One Fee”). The Subscription Fee is calculated daily, using the Client’s daily average account balance multiplied by the Altruist One Fee rate, divided by the number of days in the calendar month (i.e., Daily Average Balance × [Altruist One Fee Rate ÷ Days in Month]).  The daily fees are then summed up at the end of the month. Altruist One Fees will be charged the first week of the following calendar month.

If a Client has a daily balance less than $10,000, they may be charged the minimum fee of $1.00 a month (the “Minimum Fee”). The minimum fee is also calculated daily, and the formula is $1.00 divided by the number of total days in the calendar month. The Subscription Fee and Minimum Fee are calculated daily for each account and the greater of the fees for each day is included in the month end calculation. As such, some accounts may be charged a blended rate for the month, as on some days, the Minimum Fee applies, and for others, the Subscription Fee applies.

Restricted or closed accounts, as well as accounts with a $0 balance, are not eligible for Altruist One and will not be billed. High-Yield Cash account(s) (formerly Altruist Cash) subscribed to Altruist One are excluded from the Altruist One asset-based fee and are subject only to the Minimum Fee.

Advisers have the ability to either pay the Altruist One Fee from RIA’s house account or pass the Altruist One Fee to the Client for payment from the Client’s account. If an Adviser chooses to pass the Altruist One Fee for payment from a Client’s account and the Client or RIA closes, liquidates, or archives the Client’s account prior to paying any accrued Subscription Fee, Altruist will debit the unpaid Subscription Fee from the Adviser’s house account.

Altruist Corp and its affiliates (collectively, “Altruist”) may at any time and in its sole discretion, alter the subscription fee and preferred rates and add or remove features from Altruist One. Altruist will provide Advisers and Clients with at least 30 days advance written notice of any increases to the Altruist One subscription fee. However, Altruist may at any time, in its sole discretion and without prior notice, post changes to other terms of this Agreement, and continued participation in Altruist One by Advisers and Clients after such changes will constitute acceptance of those changes. Altruist may also  terminate a Client’s Altruist One membership at any time in its sole discretion.

Advisers may enroll a Client’s account in the Altruist One membership at any time. Benefits associated with the Altruist One membership, including but not limited to the preferred APY, will generally become effective within four (4) business days following enrollment.

An Adviser may request a downgrade of their Client’s account at any time from Altruist One within the Altruist platform. A Client may request to downgrade their account at any time from Altruist One upon contacting Altruist’s Customer Support team at support@altruist.com. When a Client’s account is downgraded from Altruist One, the Client will lose access to any reduced or waived fees within two (2) business days and will stop accruing the preferred APY generally within four (4) business days from the day the request is received by Altruist. The subscription fee will stop accruing within one (1) business days from the time the Client’s account is downgraded.

Discounted or Waived Fees

Altruist Financial LLC Fees

Altruist One gives clients the ability to access certain reduced or waived fees as outlined below:

1. Transaction Fee: Mutual & Money Market Funds: Waived
2. Share-Class Conversions, Exchanges & Short-Term Redemptions: Waived
3. Periodic Investment Plan (PIP) & Systematic Withdrawal Plan (SWP): Waived
4. Vanguard & DFA: Waived
5. Certificates of Deposit, Corporates, Government Agencies & Municipals: Waived
6. Broker-Assisted Fee: Waived

Advisers and/or Clients should refer to the Altruist Financial LLC Fee Schedule for complete details on fees that apply to Altruist brokerage accounts and services. 

Altruist LLC Fees

Altruist One gives clients the ability to access certain reduced or waived fees as outlined below:

1. Model Portfolio Fee: Up to 12 basis point discounted per model 
2. Model Licensing Fee: Up to 15 basis point discounted per model
3. Tax Loss Harvesting: Waived

Altruist High-Yield Cash (formerly Altruist Cash) 

Terms and conditions governing the Altruist Financial LLC high yield cash program (cash management) can be found in the High-Yield Cash Program Disclosure Statement, available on altruist.com/legal. A Client or their Adviser may opt out of participating in the High-Yield Cash program at any time. The APY offered in the High-Yield Cash program is subject to change at any time.

Altruist Bank Sweep Program

Terms and conditions governing the Altruist Financial LLC Bank Sweep Program (“Bank Sweep”) can be found in the Altruist Bank Sweep Program Disclosure Statement, available on altruist.com/legal. Unless previously enrolled, Clients will automatically be enrolled in the Bank Sweep program upon starting an Altruist One subscription. A Client or their Adviser may opt out of participating in the Bank Sweep at any time by contacting support@altruist.com. If a Client or their Adviser opts out of the Bank Sweep program, the Client will receive the Free Credit Balances interest rate for any uninvested cash in their Altruist Financial LLC brokerage account. The APY offered in the Bank Sweep program is subject to change at any time.

Additional Terms                                                                           

Advisers enrolling Clients in Altruist One, and to the extent applicable to the Client’s account(s), acknowledge that Clients remain subject to all other terms and conditions provided in the agreements governing such account(s). Advisers further acknowledge that Clients may, in the future, receive supplemental disclosures, terms, and agreements pertaining to certain account types, features, or services. This Agreement is governed by the laws of the State of California.                     

By clicking the “Subscribe” button below, the Adviser acknowledges that they have read this Agreement and all incorporated disclosures, terms and agreements carefully and have retained copies for their records. The Adviser represents and warrants that it has the authority to accept the terms of the Altruist One program on behalf of their Clients. Additionally, the Adviser acknowledges that they have provided a copy of this Agreement to the subscribing Client, alongside all incorporated disclosures, terms and agreements. The Adviser further acknowledges and affirms their fiduciary duty to the Client. The Adviser on the Client’s behalf subscribes to Altruist One under all of the aforementioned terms and conditions.

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