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Savvy Wealth Unveils Generative AI Platform for Advisors

By Jeff Berman

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What You Need to Know

  • Savvy Wealth’s new platform includes CRM system, client portal and compliance/back-office support.
  • The platform harnesses the power of generative AI to automate and streamline processes, the company said.
  • Advisors who partner with Savvy Wealth get equity ownership similar to tech industry employees and founders.

Savvy Wealth, the parent company of national registered investment advisor Savvy Advisors, on Thursday introduced a fully integrated platform for advisors with high-net-worth clients, which it said is powered by generative artificial intelligence.

The new, comprehensive solution will bring advisors’ daily workflows into an “intuitive, user-friendly dashboard,” the company said.

The platform harnesses the “power of generative AI” to automate and streamline processes including new account onboarding, client portfolio recommendations, ongoing financial planning and personalized communications across multiple marketing channels, the firm added.

“Wealth management industry data tells us that ‘all-in-one’ platforms have failed to gain significant market share,” said Ritik Malhotra, co-founder and CEO of Savvy Wealth.

“Realizing the largely untapped potential of AI-driven efficiency, we saw an opportunity for our … team to change that narrative and build our own solution from the ground up,” Malhotra said in a statement.

“Listening to our advisors, we designed our platform to eliminate the challenges caused by fragmented technology, double data entry, and manual workflows that have historically plagued advisors and hindered their growth,” he added.

Providing more details of some of the new platform’s key features, Savvy Wealth said its in-house-built client relationship management software consolidates several client and prospect data sources into one interface, significantly reducing the need for manual data entry.

The solution can run “powerful and complex automations, specifically tailored to the needs of Savvy’s advisors, to provide enhanced client engagement and relationship management,” it said.

Meanwhile, with AI technology including GPT-4 within its CRM, Savvy Wealth “ingests data from various sources to create personalized outbound marketing campaigns,” the company said.

The CRM also enables the generation of investment and planning recommendations that Savvy’s advisors can then use to “cultivate stronger relationships and establish trust with prospects and clients,” it said.

And the platform’s interface was “designed to increase client engagement by offering a unified experience that’s directly integrated into its technology stack,” the company said. The self-service portal boosts efficiency and eases “pain points” with document signing and sharing, reporting and advisor-client communication, it added.

Savvy Wealth’s technology stack also includes tax-optimized, risk-adjusted portfolios via the recently launched Savvy Direct Indexing. The tool helps Savvy advisors build personalized, tax-efficient, values-aligned portfolios customized to their high-net-worth clients’ environmental, social and governance preferences, it also said.

The platform also offers held-away retirement account management, trust and estate planning, financial planning, and investment management solutions that the company said will “provide access to several alternative asset classes.”

Noting that he tested the advisor platform in its early stages, Brent Boden, principal wealth manager at Savvy Advisors, who focuses on medical professional clients, said, “I’ve used other systems in the past, but none have come close to the efficiency and ease of use” that the new advisor platform offers.

Advisors who partner with Savvy Wealth get equity ownership similar to tech industry employees and founders, along with competitive compensation and revenue earn-outs, the company added.

Credit: Peshkov/Adobe Stock

Jeff Berman

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