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.
