Ritholtz Wealth Management has added Altruist as a custody partner, the RIA disclosed in a filing with the Securities and Exchange Commission (SEC) this month.
Ritholtz has existing custody arrangements with Charles Schwab, Fidelity and Betterment. The firm uses Betterment’s Betterment for Advisors platform to operate its Liftoff robo-advisor model, which offers automated portfolio management and access to Betterment’s ETF suite for a fee of up to 50 basis points, which Ritholtz splits with Betterment Securities.
A spokesperson for Ritholtz stated that ‘as a multi-custodial firm, Ritholtz Wealth Management has added Altruist to its list of custodians. The firm continues to maintain excellent relationships with its existing custodial partners.’