In this episode, we sit down with Jason Wenk, Founder and CEO of Altruist. Jason shares the "lightbulb moment" he had watching Robinhood take off, realizing that Registered Investment Advisors (RIAs) were stuck using archaic, disjointed technology while consumers were getting sleek, digital experiences.
We unpack how Altruist is taking on the industry giants (the "Duopoly") through vertical integration and why Jason believes legacy custodians have zero incentive to innovate. We also dive deep into the controversial side of company building: the return of "hardcore" work culture, hiring for intensity, and why Jason believes the era of soft startups is over.
(00:00) Intro & The Origin Story: From starting at Morgan Stanley at 19 to the serial entrepreneur journey that led to founding Altruist.
(18:18) Disruption Thesis: The "Robinhood Moment" & Vertical Integration: How seeing the mobile trading revolution inspired Jason to rebuild the custodial stack, and why the "Duopoly" incumbents (Schwab/Fidelity) struggle to innovate due to high margins and inertia.
(39:22) The Playbook: Scaling to Billions: Altruist’s Go-to-Market strategy: How they gained initial traction by targeting the "hungry and underserved" small advisors that the giants ignored, and eventually moved upmarket.
(42:20) The AI Future: "Hazel" and The Bionic Advisor: Why Altruist is pivoting hard into AI agents, how "Hazel" renders traditional CRMs obsolete, and Jason's prediction on when AI will replace human financial advice (featuring the $15k fence story).
(57:03) Founder Mode: Culture, Intensity & Performance: A deep dive into building a "hardcore" culture, the return of the "996" mindset, and Jason's personal routine (including the gene mutation that lets him thrive on 4.5 hours of sleep).