Vanguard Agrees to Acquire AI-Forward Custody Platform Altruist

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Vanguard and Altruist announced a definitive agreement for Vanguard to acquire the wealth technology and custody platform serving financial advisors, per a Finextra release carried August 26. Altruist positions itself as AI-forward custody infrastructure, which makes this an incumbent asset manager buying an agent-era advisor stack rather than building one. Terms were not disclosed in the release and this is currently single-source, so treat the strategic read as provisional until the deal value and close conditions are filed.