Tifin AG, a provider of artificial intelligence and machine learning solutions for the wealth management industry, has announced another strategic partnership.
Under its alliance with GenWealth Financial Advisors, the fintech provider will help drive organic growth at the financial advisory firm serving Arkansas and Louisiana, by integrating AI-powered insights directly into its customer relationship management platform.
According to Tifin AG, the partnership will help GenWealth’s advisors expand their existing client relationships and improve new client acquisition. The focus will be on leveraging advanced AI and machine learning models to generate growth opportunities and provide data-driven insights to streamline the prospecting process.
The fintech firm officially came into its own as an advisor-growth focused platform in January this year, which is when it spun off from the larger Tifin digital platform headed by Vinay Nair.
John Shrewsbury, co-founder of GenWealth, expressed optimism about the new collaboration.
“This partnership aligns perfectly with our commitment to innovation and providing personalized wealth management advice to our clients,” Shrewsbury said in a statement.
Jeannette Kuda, president and COO of Tifin AG, highlighted the potential impact of the AI solutions on GenWealth's business.
“GenWealth is renowned for its client-centric service and strategic growth. Our AI-driven solutions will equip their practice with precise growth signals, enabling them to efficiently identify and convert prospects, and expand client wallet share,” said Kuda, an LPL alum who joined Tifin AG's C-suite just this past April.
Tifin AG said it's seen strong results from its AI models, noting that prospects in the top twenty-five percent of scores were six times more likely to convert into clients. Beyond that, it said existing clients identified by the models were 17 times more likely to consolidate assets, showcasing the efficacy of Tifin’s data science capabilities.
Beyond those targeting and personalization capabilities, GenWealth's new AI partnership may help insure its relationships with younger high-net-worth individuals, who according to one study are likely to view artificial intelligence and other emerging technologies as must-haves for financial advisors.
Tifin AG's newly minted relationship with GenWealth builds on the other partnerships it's forged so far this year, including its deal with Sowell Management last month and its extended tie-up with RBC Wealth Management in February.
The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.
The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.
Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.
With more than $13 billion in assets, American Portfolios Advisors closed last October.
Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
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.
