Fintechs aiming AI at advisers

Firms explore ways to improve client and adviser experience.
APR 14, 2018

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.

Latest News

WallStreetBets takes on the SEC — and makes a surprisingly sharp case
WallStreetBets takes on the SEC — and makes a surprisingly sharp case

The Reddit trading community's formal comment letter against the proposal is drawing widespread attention across finance and tech circles.

Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale
Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale

RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.

Beyond wealth management: Why the future of advice is becoming more human
Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up
Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up

Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.

UBS loses $1.2 million arbitration claim linked to variable annuities and margin
UBS loses $1.2 million arbitration claim linked to variable annuities and margin

UBS has a history of costly litigation stemming from the sale of volatile investment products.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline