Start-Up Custodian Altruist Raises $112 Million in New Funding

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Altruist, the start-up custodian for registered investment advisors, raised $112 million in new funding, the Los Angeles-based firm said.

The funding round was led by venture capital firm Insight Partners and includes new investor Adams Street Partners, an investment manager. Financial services leaders such as ex-Vanguard CEO Bill McNabb, Carson Group CEO Ron Carson, and Mariner Wealth Advisors CEO Marty Bicknell also participated, according to Altruist.

Altruist...

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