ALTINasdaqInvestment AdviceUS GAAP · USD

AlTi Global, Inc.

AlTi Global, Inc. is an independent global wealth manager focused on fiduciary advisory services for entrepreneurs, multi-generational families, institutions, and next-generation leaders. The company combines discretionary and non-discretionary investment management with estate, trust, governance, philanthropy, and family office services, and it also gives clients access to alternative investments. In addition to its wealth management platform, AlTi operates an alternatives business that includes one internally managed fund and stakes in externally managed funds, serving a largely institutional client base. As of September 30, 2025, it managed or advised approximately $89.2 billion of combined assets and operated across 19 cities in 9 countries.

Revenue255m USD
+23.2 %y/y
Operating profit (EBIT)-73.9m USD
+14.9 %y/y
EBIT margin-29.0%
+13.0 ppy/y
Net income-120m USD
−16.2 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

-1000100200300m USD2021: 76 m USD2021: EBIT -1.0 m USD20212022: 77 m USD2022: EBIT -8.9 m USD20222023: 221 m USD2023: EBIT -48 m USD20232024: 207 m USD2024: EBIT -87 m USD20242025: 255 m USD2025: EBIT -74 m USD2025255-74
RevenueOperating profit (EBIT)

Business

Share of revenue
Wealth management advisory55 %

Discretionary and non-discretionary investment advice, portfolio construction, and ongoing client advisory services.

OCIO and institutional solutions20 %

Outsourced investment management and advisory services for institutions and complex family capital pools.

Trust, estate, and family office services15 %

Trust administration, estate planning, governance, education, and family office support for wealthy families.

Alternative investments and fund platform10 %

Access to private market and alternative strategies, including internally managed and externally managed funds.

Products

Reported · share of revenue
77.8%13.6%FY2025100 %
  • Management Advisory Fees77.8 %
  • Incentive Fees13.6 %
  • Distributions From Investments8.2 %
  • Other Fees Income0.4 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

AlTi serves affluent individuals and families that want a single advisor for portfolio management, estate planning, trust structures, and family governance. It also works with institutions that outsource part or all of their investment function through OCIO mandates and alternative strategy allocations. The company specifically highlights entrepreneurs, multi-generational families, and emerging next-generation leaders, which suggests a focus on complex, relationship-driven wealth rather than mass-market retail accounts. Its alternatives platform has a largely institutional client base, indicating a second customer pool that values access to specialized strategies and performance-linked economics.

Entrepreneurs and business owners

They buy investment management, liquidity planning, and succession-oriented advisory services to coordinate personal and business wealth.

Multi-generational families

They use trust, estate, governance, and family office services to preserve wealth across generations and align family decision-making.

Institutional OCIO clients

They outsource portfolio management and advisory functions to AlTi for investment oversight, manager selection, and governance support.

Next-generation leaders

They seek education, governance, and purposeful investing support as they inherit or begin to steward family capital.

Institutional alternatives investors

They invest in AlTi-managed or externally managed alternative strategies for specialized exposure and performance-linked returns.

Strategy

AlTi’s strategy is to deepen its position as a global fiduciary wealth manager by combining investment advice with broader family office, trust, and governance services. The company is also emphasizing alternative investments and impact or values-aligned investing, which helps differentiate it from more traditional wealth managers and can increase wallet share with sophisticated clients. Management is focused on scaling the platform, rationalizing costs, and deploying recently raised capital into accretive businesses, indicating a push toward operating leverage. The acquisition of Kontora and the sale of non-core investments suggest an active portfolio-shaping approach to build capability in targeted markets and simplify the business.

Scale the global wealth platformMedium term

A broader international footprint and more professionals can support larger client relationships and deepen recurring advisory revenue.

Expand alternatives and impact-oriented investingMedium term

Alternative strategies can differentiate the firm and create higher-value client relationships with performance-linked economics.

Improve cost efficiency and operating leverageShort term

The business has meaningful professional and compensation costs, so scaling revenue while controlling overhead is important to profitability.

Deploy capital into accretive businessesShort term

Management wants to convert recently raised capital into growth assets and capabilities that strengthen the platform.

Geography

2024

AlTi describes itself as a global business with operations in 19 cities across 9 countries on three continents, so its revenue base and client coverage are geographically diversified rather than concentrated in one market. The company does not provide a country revenue split in the excerpts, but its operating footprint implies exposure to cross-border wealth, local regulatory regimes, and international client mobility. Its alternatives platform includes strategies tied to Europe and Asia, including European Equities and Asian Credit and Special Situations, which broadens its investment and client exposure beyond the United States. The global footprint is strategically important because many of its clients are internationally mobile families and institutions that require multi-jurisdictional advisory capabilities.

United States65 %
Other countries (US filing)19 %
United Kingdom16 %

Share of the revenue the company reports by geography.

Risks

AlTi’s earnings depend on market values, client assets, and performance-based fees, so volatility in financial markets can quickly affect revenue and valuation assumptions. Because the firm operates across multiple countries, it faces regulatory, tax, and operational complexity, including cross-border compliance and local fiduciary requirements. Its use of incentive fees, fund distributions, and fair-value-based liabilities creates earnings sensitivity to assumptions, market multiples, and realized performance. As a wealth manager serving high-net-worth and institutional clients, it is also exposed to client retention risk, fee pressure, and competition from banks, boutiques, and larger asset managers.

Sorted by severity
AUM/AUA sensitivity to market movements and client flowsHigh

Management and advisory fees are tied to assets and client activity, so market declines or redemptions can reduce revenue quickly.

Exposure: Wealth management and OCIO platform

Performance and incentive fee volatilityHigh

Incentive fees are recognized only when performance thresholds are met and reversal risk is low, making revenue uneven.

ExposureCapital SolutionsInternational wealth managementFund strategies
Fair value and goodwill impairment riskHigh

Valuation assumptions for reporting units, earn-outs, and contingent liabilities can materially affect reported earnings.

Exposure: Business combinations and acquired platforms

Cross-border regulatory and tax complexityMedium

Operating in multiple countries increases compliance burden and can affect client onboarding, product structuring, and profitability.

Exposure: 19 cities in 9 countries

Competitive fee pressureMedium

Wealth management and OCIO services are relationship-driven and can face pricing pressure from banks and large asset managers.

Exposure: Advisory and fiduciary services

Accounting

Judgemental items
ASC 606 revenue recognition

Different fee types are recognized at different times, affecting revenue timing and comparability across quarters.

Impact: Management fees, incentive fees, arrangement fees

Incentive fee accrual and reversal risk

Performance fees are only booked when reversal is unlikely, so results can change materially with market performance.

Impact: Quarterly revenue volatility

Fair value of TRA and earn-out liabilities

These liabilities use unobservable inputs and discount rates, which can create non-cash gains or losses.

Impact: Reported earnings and balance sheet volatility

Goodwill impairment testing

Acquired businesses must be tested using valuation assumptions that are sensitive to growth and discount rates.

Impact: Potential impairment charges

Business combination purchase accounting

Acquisitions such as Kontora require allocation of purchase price to assets and liabilities, affecting future amortization and earnings.

Impact: Intangible amortization and goodwill

Publicly listed companies with a comparable business focus.

Last updated: 11/08/2026

AlTi Global, Inc. (ALTI) Revenue, Earnings & Financials 2025 – Clarifo