News Summary

• Britain and the EU are addressing the same shortage of advice through rule changes rather than acquisitions.
• Altruist is not a layer on somebody else's custodian.
• It runs its own self-clearing brokerage, holding and settling client assets directly.
• Its AI component is called Hazel.
• It reads an adviser’s live custodial data along with their CRM, email and notes, then answers questions and drafts client plans from it.
• There is no price, no valuation, no figure for the 2020 stake, and the regulatory approvals the deal depends on are not named.