Layoff · Oct 21, 2025

Altruist cuts 50 jobs

DateOct 21, 2025

CountryUnited States

ReasonAI / automation

IndustryFintech (custody for investment advisers)

People affected

50

15% of the workforce

Coverage

1 source reporting this layoff. Previews load live from each site.

InvestmentNews
Altruist lays off 50 employees, but CEO says profitability is in sight
CEO Jason Wenk says Altruist's 15% staff reduction wasn't cost-driven but a strategic move to prioritize resources as the RIA custodian battles giants Schwab and Fidelity for market share.
investmentnews.com

InvestmentNews

Altruist lays off 50 employees, but CEO says profitability is in sight

CEO Jason Wenk says Altruist's 15% staff reduction wasn't cost-driven but a strategic move to prioritize resources as the RIA custodian battles giants Schwab and Fidelity for market share.

investmentnews.com