Jason Wenk Net Worth Facts Investors Should Know

Jason Wenk Net Worth has no verified public figure, but his income links to Altruist, FormulaFolios, and long-term equity growth.

Nov 11, 2025

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Jason Wenk co-founded Altruist in 2019 and has served as CEO since its inception. Under his leadership, the company has raised major funding rounds, including a 2021 Series B led by Vanguard, and rapidly expanded its platform.

In April 2025, Altruist closed a $152 million Series F round that valued the firm at roughly $1.9 billion. As founder-CEO and the largest individual shareholder, Wenk’s personal wealth is closely tied to his equity in the company. Altruist’s growth from a startup to a near-$2 billion valuation makes Wenk’s substantial equity stake the central financial asset in his portfolio.

Fact	Details
Full Name	Jason Wenk
Jason Wenk Net Worth	Not publicly disclosed (2026).
Profession	Fintech entrepreneur.
Current Role	CEO and founder of Altruist.
Major Company	Altruist fintech platform.
Previous Venture	Founder of FormulaFolios.
Industry Experience	20+ years in wealth tech.
Education	Studied computer science at Grand Valley State University.
Early Career	Systems analyst at Morgan Stanley.
Major Achievement	FormulaFolios ranked #10 on Inc. 5000 (2017).

Jason Wenk helped drive Altruist’s digital custody growth as more independent advisors joined the platform and advisor assets continued to expand.

Digital Custody Revenue Tied To Independent Advisor Assets

Wenk has overseen rapid growth in Altruist’s custodian business for independent advisors. By early 2023, more than 1,700 advisory firms were using Altruist’s platform. By late 2025, that number had surpassed 5,100 advisors.

That client expansion has driven a sharp rise in assets under custody. Altruist reported that assets under management nearly tripled for two consecutive years, and by 2025, total assets had increased roughly 50% year over year.

Revenue has grown alongside that expansion. The company achieved triple-digit revenue growth in 2024, and Wenk said it was on track for more than 70% revenue growth in 2025.

Each new advisor and every additional dollar on the platform has increased custodian fee revenue, tying Altruist’s financial performance to the scale of advisor AUM under Wenk’s management.

Cash Sweep Economics Within Altruist’s Custodian Model

As part of building a full-service RIA custodian, Wenk introduced a high-yield cash sweep solution. Launched in 2024, Altruist Cash sweeps clients’ idle cash into an FDIC-insured network of banks, where it earns interest.

Under Wenk’s model, Altruist Cash has offered market-leading yields, historically 5.10% APY compared with a national average of about 0.5%. By pooling advisor clients’ cash in partner banks, Altruist can provide attractive returns while using scale to manage sweep risk.

The structure aligns incentives. Advisors retain access to higher cash yields through Altruist, while the firm strengthens its custodian platform. Proprietary details are not public, but Wenk’s strategy leaves room for Altruist to capture some portion of the interest spread from these sweep accounts as a recurring revenue component.

Altruist’s cash sweep economics are built into its custodian model, generating income from broad client cash balances while improving service for advisors.

Advisor Software Fees As A Recurring Fintech Revenue Stream

Beyond custody, Altruist offers integrated advisor software for account opening, trading, reporting, billing, and related functions under Wenk’s leadership. Wenk has emphasized a client-friendly fee model that allows new advisory firms to use the platform without fees until they reach 100 client accounts.

Once firms pass that threshold, Altruist charges recurring flat fees for its bundled technology and clearing services. Wenk contrasts that model with traditional custodians’ percentage-of-assets fees, saying Altruist’s lower-margin structure allows the company to innovate and support small advisors.

As advisors scale, Altruist earns growing subscription-like revenue. Fees from thousands of advisors using its all-in-one system have created a steady fintech revenue stream that has expanded with the number of participating firms during Wenk’s tenure.

Founder Compensation From Altruist’s Executive Leadership Role

Specific figures for Jason Wenk’s salary and bonuses remain private. Wenk has publicly said Altruist prioritizes reinvestment over short-term profit.

In October 2025, Wenk said the company could be profitable at that point but keeps all cash in the business to support growth. As CEO, he has favored scaling operations over maximizing near-term profit.

Wenk’s compensation is likely tied more closely to long-term company performance through equity growth than to high base pay. His statements describe a strategy of using capital to expand features and infrastructure rather than extract profit.