The role that technology including AI will play in the wealth advisory industry of the future will depend heavily on how good the humans are that drive its innovation.
At Savvy Wealth, the ongoing success of its AI-powered technology platform relies on continued evolution and product development, and the firm has today (Feb. 26) announced its first chief technology officer to drive it.
Eric Hurkman has multiple years of fintech experience, most recently with Carta where he led software development of its venture capital platforms as VP of engineering. His four years in the role was his second time at the firm, having been its CTO early on before taking on the same position at Say Technologies, a financial services platform acquired by Robinhood.
Technology talent is in demand as the industry develops and expands AI offerings, while strategic partnerships are also a key part of the growing use of technology such as the Carson Group’s newly announced partnership with Zocks for AI-powered advisor insights.
In his new job as Savvy Wealth’s CTO, Hurkman will lead the expansion of the firm’s product development, design, engineering, and AI teams, and says that its tech already saves advisors time by bringing together functionality that reduces the need to toggle between disparate solutions.
“At this pivotal juncture in Savvy Wealth’s growth trajectory, I’m enthusiastic about the opportunity to unlock greater efficiency and scalability and build solutions that empower our advisors and advisory teams to deliver a more modern, tech-driven client experience,” he said.
Savvy Wealth announced earlier this month that it has hired David Weiner as chief growth officer, where he will focus on advisor recruitment and the continued expansion of Savvy Advisors, its national RIA which recently crossed the $1 billion AUM milestone.
Meanwhile, as advisors ramp up their use of technology including Generative AI, those who ensure standards in the industry are keen to keep up with developments. The CFP Board has issued an ethics guide for generative AI this week, coinciding with a separate report showing that most advisors are using the technology in some way.
Quarterly analysis of retirement accounts highlights positive behavior.
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
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