Altruist Secures $1B Civic Financial in Major Custodial and Tech Stack Win

Digital custodian Altruist has landed a major enterprise win as Boston-based Civic Financial announced it will transition its entire custodial and wealth management technology stack to the platform.

Civic Financial is a 100% partner-owned, multigenerational wealth advisory firm managing approximately $1 billion in client assets for high-net-worth individuals and families. The full-platform migration marks a significant shift for the RIA as it seeks modern infrastructure to support long-term growth.

“When a firm with Civic Financial’s sophistication, scale, and growth trajectory chooses Altruist for its entire business, that’s a meaningful signal,” Jason Wenk, founder and CEO of Altruist, said in a statement. “The firms building for the decades ahead are creating deeper client relationships and delivering exceptional outcomes.”

Beyond core custody, Civic Financial plans to integrate Altruist’s AI engine, Hazel, across its advisory workflows to automate administrative tasks, optimize tax planning, and build custom operational modes. As an official design partner for Hazel, Civic will collaborate directly with Altruist to test and refine enterprise AI capabilities across the advisory space.

The selection follows a comprehensive evaluation of legacy and emerging custodial providers. Scott DeSantis, CEO of Civic Financial, noted that the extensive diligence process validated the firm’s commitment to complete independence, with Altruist emerging as the clear choice due to its technology, cultural alignment, and client-centric model.