Civic Financial Moves $1B in Assets to Altruist Platform
Event summary
- $1B in client assets transitioning to Altruist from Civic Financial.
- Civic chose Altruist after evaluating major custodians, citing tech and culture alignment.
- Firm plans to use Altruist’s AI engine Hazel for tax planning and workflow automation.
- Civic is a Forbes top Wealth Management team with 40%+ annual organic growth.
The big picture
This deal underscores the accelerating shift toward tech-forward wealth platforms among independent advisory firms. Civic’s choice of Altruist over established custodians signals growing demand for integrated, AI-driven solutions in wealth management. The $1B AUM transition also highlights how scale and growth potential factor into platform selection decisions.
What we're watching
- Platform Stickiness
- Whether Altruist can sustain Civic’s rapid growth trajectory post-transition.
- AI Adoption
- The pace at which Hazel AI integration reshapes advisory workflows.
- Competitive Response
- How traditional custodians react to Altruist’s win with a high-growth firm.
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