Case Study: Kiplinger Wealth Advisors saves $140,000 a year with Altruist

How Kiplinger Wealth Advisors transitioned 500 accounts in one month and is now saving $140,000 a year with Altruist

Kiplinger Wealth Advisors, a wealth management firm, was facing a challenge to its profitability due to extremely high administrative and ticket charges from its previous custodian, which were costing over $140,000 annually. Seeking a more cost-effective and efficient solution, the firm initiated a search for a new provider and ultimately selected Altruist's custody and platform services after an extensive due diligence process.

By transitioning over 500 accounts to Altruist, the firm immediately addressed its primary cost challenge. The solution from Altruist provided a more advisor-friendly fee model and a tech-forward platform, resulting in annual savings of $140,000. These significant savings were reinvested into new technology to support the firm's growth, which now includes the ability to profitably serve clients with smaller account balances.

Kiplinger Wealth Advisors

Tyler Purcell

Head of Firm Operations