Broker Check

<br data-mce-bogus="1">A Delightful Experience


A Delightful Experience

At Lake Avenue Financial, we want to help you reach your financial goals quicker and with less stress. That's why we have partnered with Altruist, a technology platform that will remove the friction from managing your money and make it easy for us to do our best work.

<br data-mce-bogus="1">No More Complicated Software


No More Complicated Software

Altruist has brought together all the essential advisor tools into one easy-to-use platform, from opening accounts and managing investments to analyzing a portfolio and providing efficient client service. This frees up time and enables us to focus on serving you even better!

<br data-mce-bogus="1">More Efficient Investing


More Efficient Investing

With access to commission-free fractional shares using Altruist, we can invest your money in high-quality assets, no matter the price. By lowering costs and empowering us to be more efficient with your portfolio, you have the opportunity to reach your goals faster.

<br data-mce-bogus="1">Mobile App


Mobile App

Altruist gives our clients an all-access pass to their financial future. It’s a breeze to stay in-the-know about your portfolio and connect with us using the app. You can also open and fund accounts online in minutes with no paper at all.

FAQs


How do I set up my Altruist account?

First, you'll need to accept your invite. We will send you an email invitation from hello@altruist.com to create a login and set up your account. Watch the following video that will walk you through the steps to set up your account. 


How do I use the Altruist web portal?

Watch the following video to learn how to use the web portal. Click here to access the Altruist client portal. 


Does Altruist have a mobile app?

Altruist offers a mobile app in both the Apple App Store and Google Play Store.


How do I use the Altruist mobile app?

Watch the following video to learn how to use the mobile app.


How do I connect my bank account?

In the online portal, visit your settings, click Accounts, then click Add Bank. On the mobile app, click on Transfers and click through either deposits or withdrawals, to Add Bank. Once you have a bank linked, you can easily transfer funds in and out of Altruist.


How do I set up recurring transfers?

To set up recurring transfers, simply click on Add Funds on the website or Transfers on your mobile app. You can determine if you’d like to transfer weekly, bi-weekly, monthly, or quarterly.


How do I log into my Altruist account on the web?

Click here to access the Altruist client portal. 


What is Altruist's mission statement?

Altruist is on a mission to make independent financial advice better, more affordable, and more accessible. Lake Avenue Financial shares in this mission and aligns with Altruist's values.


Who are some of the big names backing Altruist?

Altruist is backed by some of the country’s top investors, including Venrock, Vanguard, and Insight Partners. Together, they're breaking down barriers into wealth management.


Who are the people behind Altruist?

Altruist is made up of amazing individuals that are motivated by doing what’s right. Meet the team.


Who is Apex Clearing?

Apex Clearing is Altruist’s custodial and clearing partner. They work with them to keep your securities and assets safe. Apex is an award-winning pioneer in financial technology with over 12.2 million investor accounts on the platform. Their clearing engine is built for safety, scale, and speed. You’ll receive monthly statements, trade activity notifications, and important tax docs from altruist@investordelivery.com.


Is my information secure at Altruist?

Altruist keeps your information safe with around the clock monitoring and AES 256 encryption. They engage a PCAOB independent auditor to conduct a report on their system of controls related to information security. Altruist earned a SOC 2 Type 1 Report under AICPA standards. This means that an independent auditor has examined their systems and controls for the security, confidentiality, processing integrity, availability, uptime, continuity, and privacy of your data. A SOC audit confirms that the systems and controls related to data security and privacy at Altruist are suitably designed and operating effectively to achieve their outcomes of ensuring safe, secure, and reliable transmission, storage and processing of data.


Who oversees Altruist?

Altruist Financial LLC is an SEC-registered broker dealer and a member of the Financial Industry Regulatory Authority (FINRA) providing brokerage related products and services. Altruist LLC is an SEC-registered investment adviser providing investment management and advisory services. This means we have oversight from multiple regulators in addition to our own internal compliance team, which ensures we always act in the best interest of our customers.


What protection does Altruist offer its account holders?

Altruist Financial LLC is a member of the Securities Investor Protection Corporation (SIPC), which means securities held in your brokerage account are protected up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org. We also participate in a bank sweep program, which means cash held in your brokerage account earns interest and becomes eligible for Federal Deposit Insurance Corporation (FDIC) Insurance up to $250,000 through an overnight cash sweep program where it is swept to FDIC member institutions. Cash balances are not eligible for FDIC insurance until they are swept to a member FDIC institution(s), and cash balances are not eligible for SIPC protection after being swept to a sweep program bank(s). This is to say that cash balances at any given time are covered by one type of protection or insurance or the other, but never both. Neither Altruist Financial LLC nor any of its affiliates are a bank.

As mentioned above, clearing and custody of all securities are provided by Apex Clearing Corporation (Apex). Like Altruist Financial LLC, Apex is a member of SIPC, and securities in your account will be protected up to $500,000 ($250,000 as to cash claims) under SIPC. Apex has also acquired, through an independent insurer, supplemental insurance coverage, additional coverage that provides protection for securities and cash up to an aggregate of $150 million, subject to maximum limits of $37.5 million for any one customer’s securities and $900,000 for any one customer’s cash.