Fintechs aiming AI at advisers

Firms explore ways to improve client and adviser experience

Apr 14, 2018 @ 6:00 am

By Ryan W. Neal

It isn't just the large financial firms that are working on artificial intelligence technology for advisers. Several independent technology vendors are exploring how AI can improve the functionality of their products for financial planners.

Dream Forward deploys AI chatbots in its automated 401(k) platform, and is now beta testing a mobile-only version that can answer client questions via text message without requiring customers to log into their accounts.

Laserfiche develops automated workflows for advisers and later this year plans to go one step further with "robotic processes" that will automate even more of advisers' manual, repetitive front- and back-office tasks.

Orion Advisor Services is developing chatbots to answer basic client questions and a machine-learning engine that can tailor the user experience of its client portal to the tendencies of individual users.

(Watch: Children of AI, and when they are coming to financial advice)

United Capital is exploring how to use clients' financial information and data about how they spend their time online to recommend to advisers a set of services, products or content that could benefit investors.

Vectra uses AI to analyze data associated with cybersecurity breaches to reduce the time necessary to investigate, detect and respond to threats.


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