Automation, AI and operating efficiency

With Jason Wenk—Founder and CEO, Altruist

Watch…

Listen in…

> Download a transcript of this episode…

NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation.

About this episode…

For decades, advisors have built their businesses on custodial infrastructure that was never designed to support how modern firms actually operate. In many cases, fragmented technology stacks, paper-heavy processes, and economic factors often benefit the platform more than the advisor or client.

Jason Wenk saw that firsthand.

Before launching Altruist, Jason built and scaled FormulaFolios from zero to over $4B in assets—giving him a front-row seat to what works, what breaks, and where traditional custody and technology create friction as firms grow.

Rather than layering another tool on top of an already complex system, Jason made a far more ambitious bet: to rebuild custody, technology, and economics from the ground up as a single, fully integrated platform.

In this conversation with host Louis Diamond, Jason pulls back the curtain on what it really takes to build a next-generation custodian, including:

• The myths around custody and brand—and why the next wave of growth may belong to firms willing to rethink the infrastructure they build on.
• Challenging long-standing assumptions around custody—and why Altruist built a vertically integrated solution from the ground up.
• The advantages of vertical integration—and why simplification, automation, and aligned economics are becoming essential to advisor growth.
• The real cost of complexity—and why so many advisors and business owners underestimate it.
• The value of AI and automation—and how Jason sees it will reshape the next-generation RIA.

It’s a thoughtful, candid look at the future of custody and what it means for advisors who want to build scalable, modern businesses.

Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002.

Related Resources

The Future of Prospecting: How AI Is Powering the Next Era of Advisor Growth
FINNY Co-Founder Eden Ovadia shares how AI is transforming advisor prospecting: automating outreach, matching advisors with ideal clients, and freeing time for deeper human connection. A forward-looking conversation on what growth will look like in the next era of wealth management.

The Four Horsemen of the Independent Apocalypse
Model or partner misalignment is often the driver of these four common frustrations independent advisors encounter.

Wealth Management Landscape at a Glance
We created this “at a glance” continuum infographic—to help you navigate the different models and understand how their features stack up.

Jason Wenk
Founder and CEO

Jason Wenk is the Founder and CEO of Altruist, the only modern custodian that’s fully digital, vertically integrated, and built exclusively for RIAs. Jason has lived and breathed the financial services industry over the last 25 years as a financial advisor, investment systems developer, analyst, and founder of his previous company, FormulaFolios.

With Jason as CEO, FormulaFolios achieved a 13,927% 3-year growth rate and managed over $3.2 billion. This rapid growth ranked the firm as a fastest-growing private company in the country by Inc. magazine 4 years in a row, reaching as high as #10.

Jason was also recently named a national EY Entrepreneur of the Year in 2018.

Also available on your favorite podcast app and other media sites