‘AI-native operating systems’ get buy-in from mega-RIAs

A pair of AI startups targeting financial advisors announced funding rounds this week, with both companies positioning themselves as “AI-native operating systems.” 

Avantos, a startup founded by former partners from McKinsey and KPMG, raised $25 million in Series A funding this week led by Bessemer Venture Partners, with participating investors that include Vanguard, insurance firm Guardian Life, and custody services provider SEI, which is in the process of taking over the hybrid RIA Stratos Wealth. 

“The most annoying thing in onboarding is that it’s so fragmented. You have to do it across different systems, with a lot of swivel‑chairing and data re‑entry,” Avantos co-founder Rabih Ramadi told InvestmentNews. “In our case, from the first interaction with the client all the way through to the integration, we have an AI agent that helps with pre‑filling notes from meetings, pre‑filling the data, and then carrying it all the way to opening the account itself.” 

Vanguard, SEI and Guardian Life, as well as the $96 billion AUM mega-RIA Mercer Advisors, are using Avantos to streamline onboarding and other workflows for advisors, which Ramadi expects will eventually expand into AI-generated product recommendations for clients. Avantos brands itself as an “AI-native operating system,” which is the same description Jump CEO Parker Ence used in today's press release announcing Jump’s new $80 million Series B funding. 

“This new funding will allow us to invest aggressively in product research and development as we accelerate our vision for an AI-native operating system,” Ence said in a statement. “We are grateful for the trust our customers, partners and investors have placed in us, and we are excited about the days, months and years ahead.” 

This week's dual funding announcements from Jump and Avantos signal the latest language for how AI startups are marketing their products in the crowded fintech space. Jump’s AI tool, which advisors use as a meeting assistant and notetaker, is deployed by leading RIA aggregator Focus Financial Partners and Merit Financial Advisors, one of the most active RIA acquirers over the past year. Broker-dealers LPL, Cetera, and Osaic also have partnerships with Jump. 

“Jump is approved as an enterprise tool at Merit and has been rolled out broadly, with initial adoption focused on advisor teams and client‑facing roles where meeting documentation and follow‑up matter most,” Merit’s head of product Brian Green told InvestmentNews. “We’ve been intentional about how it’s deployed and have been prioritizing teams that can benefit immediately, while pairing usage with training and clear compliance guidance rather than forcing firmwide adoption all at once.” 

Jump’s software provides AI-generated action items and follow ups for advisors after meeting with clients or internal staff. Green notes that Merit is still “early in the adoption curve” for Jump but says the AI has saved approximately 64,000 hours of work on an annual basis across the RIA, which manages roughly $25 billion across over 55 offices.  

“Advisors report spending less time on post‑meeting administration and more time focused on clients,” Green said. “From an operational standpoint, documentation is more consistent and timelier, which supports both internal review and compliance expectations. The value for us has been less about replacing judgment and more about reducing friction in everyday workflows.”