Move illustrates how hard it is to offer low-cost advice to mass-affluent clients
Nevis's sales pitch makes sense but can the technology really deliver the productivity gains it promises
Deal gives users within ChatGPT access to proprietary data and research not available on the open web
It’s clear the market is not enough to sustain the 15-plus providers jostling to compete with each other
If AI tools become the solution for advisors' data integration woes, where should these tools themselves live?
Michael Kitces and Ben Henry-Moreland ask whether these long-term problems require a non-AI fix?
Who’s winning? The multifunctional ‘all-in-one’ tools or the ‘best in class’ standalone solutions?
Standalone AI notetakers are feeling the effects amid the presence of cheaper alternatives.
Michael Kitces and Ben Henry-Moreland analyze whether new AI financial advisor offering can overcome the perennial client acquisition cost problem.
Michael Kitces and Ben Henry-Moreland write that Schwab's intention appears to be to give retail clients the ability to create their own self-directed estate documents, powered by Wealth.com's technology.
Michael Kitces and Ben Henry-Moreland write that Altruist's growth has been driven heavily by its ability to attract newer RIA firms, a space where it has been highly competitive and benefitted by the fact that many of its competitors have asset minimums for firms to join.
Michael Kitces and Ben Henry-Moreland write that there are two ways agentic AI could theoretically be employed. Unfortunately, neither of them really seem to make sense for advisors and their businesses.
Advisor firms have grown in size and complexity, but CRM platforms have failed to keep up with the demands, leaving opportunities open for tech firms to serve RIAs.
TeaserGathering and analyzing client tax information remains a challenge to advisors, but current tools are capable of looking backwards as well as forwards in time.
Advisors have had to choose between generic and advisor-specific AI tools, but with only a 20% market saturation, there is room for Wealthbox and others to shift the competitive landscape.
Affected advisors must now decide whether to move to Black Diamond, highlighting the arduous nature of changing portfolio management software.
