Together the firms will continue to provide RIAs
with exceptional service and easy-to-use software.
Altruist is acquiring SSG in March 2023 in an effort to accelerate a shared mission – to make financial advice better, more affordable, and accessible to everyone.
Advisors using SSG’s custodial services should expect business as usual with zero disruption to existing services.
The merger provides numerous benefits for advisors including expanded customer support, modern practice management software, and continuous innovation for independent financial advisors.
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After over two decades in leadership and accomplishing everything they set out to, the SSG founding team decided it was time to focus on the next chapter of growth. The leadership team was looking for an ideal partner they trusted would carry on their commitment to exclusively serving RIAs. After months of due diligence, SSG selected Altruist for their commitment to RIAs and novel approach to custody and RIA technology. The founding team believes Altruist has the team, product, and vision to meet the needs of SSG advisors and clients for decades to come and accelerate a shared mission – make financial advice better, more affordable, and accessible to everyone.
Altruist is the modern custodian built exclusively for RIAs. Our mission is to make independent financial advice better, more affordable, and accessible to everyone. To that end, Altruist has built a self-clearing brokerage firm vertically integrated with software for account opening, trading, reporting, and billing – all in one streamlined solution. Over 1,700 advisors across the U.S. have partnered with Altruist to reduce costs, save time, and grow their business. Altruist was founded by Jason Wenk, an industry veteran who built and led multiple RIA firms that grew to over $5B in AUM.
Altruist Clearing is a marketing name of, and brokerage products and services are provided by Altruist Financial LLC.
No. The initial priority post-acquisition is to seamlessly bring the two organizations together with a focus on optimizing technology and service delivery across the shared advisor base.
No. Advisors should continue to work directly with the SSG service team and will receive the same holistic, attentive service they have come to expect. Over time, Altruist and SSG will be integrating service teams to expand the breadth and availability of support for SSG advisors.
The acquisition will be announced publicly on March 15th, 2023 with an exclusive feature on Day 3 of the 2023 T3 advisor conference. Additionally, there will be a town hall style virtual event on March 23rd, 2023 where Jason, Peter, and Dan will be sharing more about the acquisition and fielding questions from advisors.
SSG and Altruist share a commitment to always operate in the best interests of RIAs. The acquisition forms a trusted partnership with a shared promise to never go direct to consumers or compete for advisors’ clients. In addition, SSG advisors will have access to innovative software and services that can help them reduce costs, save time, and grow faster and more efficiently. Altruist’s platform combines a self-clearing brokerage and easy-to-use software for digital account opening, trading, performance reporting, billing, rebalancing, and integrations, along with a beautifully designed client application. Within portfolios, advisors can benefit from commission free trading, fractional shares, and simple model and model-of-models trading, all built in at no cost to advisors or end clients.
SSG advisors can expect business as usual with no impact or business disruption. The initial priority post-acquisition is to seamlessly bring the two organizations together with a focus on optimizing technology and service delivery across the shared advisor base. Advisors should continue to work directly with the SSG service team and will receive the same holistic, attentive service they have come to expect. Altruist and SSG will be hosting a town hall style virtual event on March 23rd, 2023 with an open Q&A where you can ask any additional questions you might have.
SSG advisors should feel free to communicate at their discretion. Clients can rest assured there will be absolutely no impact.
Your clients may encounter the news via press and media communications, and you should also feel free to communicate the news at your discretion. Nothing will be sent directly to your clients announcing the acquisition. A client one-pager about Altruist is available upon request.
We recognize and value the contributions that Dan, Peter and the SSG management team have made over the last several decades to ensure the success of SSG. They’ve built a tremendous organization with a steadfast commitment to always operate in the best interests of RIAs. To that end, advisors should continue to work directly with the SSG service team and will receive the same holistic, attentive service they have come to expect. There will be no major organizational changes, and Peter, Dan, and key leadership at SSG are all planning to remain with Altruist and are excited to work alongside the Altruist leadership team. Altruist and SSG will be hosting a town hall style virtual event on March 23rd, 2023 with an open Q&A where you can ask any additional questions you might have.
The acquisition has no impact on advisor regulatory reporting requirements.
There is no action required from SSG advisors. SSG advisors can expect business as usual with no impact or business disruption. Advisors should continue to work directly with the SSG service team and will receive the same holistic, attentive service they have come to expect. Altruist and SSG will be hosting a town hall style virtual event on March 23rd, 2023 with an open Q&A where you can ask any additional questions you might have.
