Vanguard's Altruist Deal Could Be a Warning Shot for ETF Platform Fees The recent acquisition of fintech powered RIA custodian Altruist by Vanguard has sent ripples through the asset management industry.
This deal is not just about expanding market share or increasing revenue; it's a deliberate move to challenge the status quo on platform fees that issuers pay to custodians.
In recent years, the shift towards exchange traded funds (ETFs) has led custodians to rethink their compensation models.