Vanguard is acquiring Altruist, the AI custody platform it backed six years ago

Vanguard is acquiring Altruist, an AI-powered custody and software platform for independent financial advisers it invested in since 2020. Altruist operates its own brokerage and uses AI to assist advisers with client data and planning. The acquisition keeps Altruist as a standalone brand to preserve adviser relationships, while Europe addresses advice shortages through regulatory changes rather than acquisitions.