Eton Solutions unveils industry-leading gen AI solution

Eton Solutions unveils industry-leading gen AI solution
The wealth tech provider's new solution, built to work with its flagship ERP product, promises to boost family offices' efficiency by 2x to 4x.
SEP 06, 2024

Eton Solutions, a software product and services firm based in North Carolina, is claiming a world-leading position in the generative AI space. 

The firm announced its launch of EtonGPT, which it claims is the first generative AI platform designed specifically for family offices. The new tool integrates exclusively with the company’s AtlasFive wealth management platform for family offices, which serves over 750 families globally, to streamline data management and enhance productivity.

Underpinned by patent-pending technology, EtonGPT's hybrid AI platform combines transactional capabilities with AI-driven data extraction and analysis to help family offices manage their investment and asset portfolios more efficiently. The platform allows users to search and extract information from over 250 types of documents, such as trust and estate plans, and it integrates that data with AtlasFive’s existing functions. According to Eton Solutions, this could result in a two-to-fourfold increase in operational efficiency for its clients.

Satyen Patel, Eton Solutions' executive chairman, highlighted the impact of AI on family offices, which have traditionally relied on manual processes.

“With the launch of EtonGPT, the world’s first family office LLM, we are embracing cutting-edge technology and reshaping the future of family office management across the globe,” Patel said in a statement, underscoring the potential of AI to make “resilient and future-ready” family offices.

Several family offices have already adopted EtonGPT. Timothy Macherone, chief operating officer at Shade Tree Advisors, noted that the platform has automated many processes, reducing human involvement by 50 percent. “We see countless opportunities to unlock efficiencies in our legacy processes through the use of EtonGPT,” Macherone said.

Andrew Hull, chief executive of Todd Family Office, acknowledged the challenges posed by AI but emphasized the importance of responsible use. “We’re working with Eton Solutions to pioneer a Responsible AI framework that harnesses the full power of AI with transparency, ethics, and trust at its core,” Hull said.

Eton Solutions is also focusing on addressing cybersecurity and other risks around AI, working with its Customer Advisory Board to ensure that its use remains ethical, secure, and transparent.

Latest News

In an AI world, investors still look for the human touch
In an AI world, investors still look for the human touch

AI is no replacement for trusted financial advisors, but it can meaningfully enhance their capabilities as well as the systems they rely on.

This viral motivational speaker can also be your Prudential financial advisor
This viral motivational speaker can also be your Prudential financial advisor

Prudential's Jordan Toma is no "Finfluencer," but he is a registered financial advisor with four million social media followers and a message of overcoming personal struggles that's reached kids in 150 school across the US.

Fintech bytes: GReminders and Advisor CRM announce AI-related updates
Fintech bytes: GReminders and Advisor CRM announce AI-related updates

GReminders is deepening its integration partnership with a national wealth firm, while Advisor CRM touts a free new meeting tool for RIAs.

SEC charges barred ex-Merrill broker behind Bain Capital private equity fraud
SEC charges barred ex-Merrill broker behind Bain Capital private equity fraud

The Texas-based former advisor reportedly bilked clients out of millions of dollars, keeping them in the dark with doctored statements and a fake email domain.

Trump's tax bill passes senate in hard-fought victory for Republicans
Trump's tax bill passes senate in hard-fought victory for Republicans

The $3.3 trillion tax and spending cut package narrowly got through the upper house, with JD Vance casting the deciding vote to overrule three GOP holdouts.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.