Altruist, a wealth platform for independent advisors, has been selected by Michigan-based Lifeworks Advisors as its new custodial partner. Lifeworks Advisors, a registered investment advisory (RIA) firm serving over 2,000 households, chose Altruist to enhance its technology-enabled advisory practice and reduce operational complexities.
After evaluating various custodial providers, Lifeworks Advisors selected Altruist for its user experience and its reported ability to decrease the cost and complexity of RIA operations. The firm focuses on integrating technology to build a more efficient advisory practice.
Ron Bullis, Co-Founder and CEO of Lifeworks Advisors, stated that technology should support advice rather than force firms to adapt to outdated systems. He noted that the partnership with Altruist aligns the firm’s technology with its client service model, aiming to eliminate operational friction, empower advisors, and facilitate relationship-driven advice.
Lifeworks Advisors has reported a significant reduction in its administrative workload since implementing Altruist’s platform. According to the firm, the platform’s automations have eliminated over $1,800 in manual effort per client annually.
Jason Wenk, Founder and CEO of Altruist, commented on Lifeworks’ approach, stating that the firm is challenging the limitations of current technology by adopting tools that expand their capacity for client service and accelerate growth. Altruist is a digital platform for independent advisors that integrates a self-clearing brokerage with software for account opening, trading, portfolio management, billing, and reporting, offering features like custom portfolios, fractional shares, and automated rebalancing.
This collaboration also supports Lifeworks’ broader initiative, The Future of Advice® Academy, an educational portal designed to provide advisors with a roadmap for navigating the evolving wealth management landscape. Through the Academy, Lifeworks aims to create scalable training programs that prepare firms for the future and attract new professionals to wealth management. By recommending Altruist and offering purpose-built guides, tutorials, and templates, Lifeworks seeks to elevate advice standards nationally.
