Vanguard has agreed to acquire Altruist, according to a source report dated September 23, 2026. The deal has not yet closed. No purchase price was disclosed in the source.
The source describes the transaction as a change to the RIA custody landscape. Once the deal closes, the source states, breakaway advisors will be weighing three heavyweight custody platforms instead of two.
The source notes that custodian choice affects an advisor's technology stack, pricing and service model for years, and that more competition usually means better terms for advisors. It adds that the decision should be driven by fit rather than by whatever came bundled with a platform.
No further terms, advisers, closing date or rationale were disclosed in the source material.