Financial Planning Email Newsletter: Advisor tech that can do anything for everyone (July 25, 2024)

Advisor tech that can do anything for everyone

Wealthtech Weekly

July 25, 2024

By Rachel Witkowski Tech reporter

There's a bifurcated marketplace of tech offerings that focus on one specific area for advisors or act as all-in-one platforms.

The options seem limitless with startups like Powder, which launched an AI-backed chatbot to complement its document-analyzation platform; to tech platform Trustworthy, which has convinced thousands of households to upload documents for digital storage safekeeping and advisor analysis.

Whichever tech path you choose, innovators from firms like Morningstar and CongiCor say AI testing should happen "yesterday." Read more about their AI webinar here, along with more at Financial Planning.

Drop me a line at [email protected].

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Technology

All-in-one tech trend changing how financial advisors do business

Portfolio managers are shifting to platforms that offer an all-in-one, single point of entry for making different portfolio transactions. Cerulli reports the trend is picking up steam.

RIAs need to be using AI tools 'yesterday,' tech leaders say
Tech innovators from Morningstar, CogniCor and others share their experiences using AI and advice on how to get optimal returns as advisors experiment with different types of AI tools.

Tech spotlight: Powder aims to reduce workloads by being advisors' AI-backed eyes and ears
Powder launched last year as a generative AI-powered document reader for advisors. Now the growing fintech has released an AI-chatbot assistant on the heels of a $5 million cap raise.

Tech spotlight: How Trustworthy gets people to store life's data
Trustworthy, a digital vault for consumers to store and find documents, recently expanded its platform to advisors and financial professionals. Here's what's next for the AI-backed startup.

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