Despite the widespread adoption of generative AI across various industries, the fintech sector, especially financial advisors, has remained relatively untouched by this technology. However, Vise, the New York City-based fintech company, aims to change this narrative with the launch of its latest offering, Vise Intelligence. This conversational AI model is specifically designed to support human financial advisors by equipping them with comprehensive reports, answering their queries, and providing real-time information about investment portfolios.
Vise Intelligence: A Game-Changer for Financial Advisors
Vise Intelligence presents a groundbreaking opportunity for financial advisors to enhance their services and improve investment outcomes for their clients. By leveraging artificial intelligence, Vise Intelligence acts as a valuable assistant, enabling financial advisors to access crucial information and make data-driven decisions effectively.
In an interview with VentureBeat, Samir Vasavada, CEO and co-founder of Vise, emphasized the potential of AI in supporting financial advisors. He stated, “Supporting financial advisors with artificial intelligence that can help do their jobs better will create better investment outcomes for all the clients that use them, and make [the financial advisors] more accessible to more people.”
Vise Intelligence is seamlessly integrated into the Vise platform, offering this AI-powered service to all advisors at no additional cost. By utilizing Vise Intelligence, financial advisors can optimize their workflows and achieve personalized investment strategies tailored to their clients’ needs.
The Power of Vise Intelligence in Action
Let’s explore how Vise Intelligence can revolutionize the way financial advisors interact with their clients. Imagine a scenario where a financial advisor receives a call from a concerned client, Ava Harris, regarding potential investments in energy companies.
With Vise Intelligence, the financial advisor can quickly prompt the AI assistant by saying, “Ava Harris called with concerns about investing in energy companies.” Vise Intelligence then provides the advisor with detailed information about Ava’s specific portfolio and suggests potential adjustments based on her preferences. It even generates a draft email addressing the proposed changes in the investment strategy, allowing the advisor to maintain control and communicate effectively with the client.
Vise’s journey began in 2016 when Samir Vasavada co-founded the company alongside Runik Mehrotra, the current Chief Investment Officer (CIO). Since then, Vise has consistently focused on delivering highly personalized portfolios, automating investment management processes, and providing valuable insights for each investment decision. This commitment remains unwavering as Vise integrates Vise Intelligence into its existing suite of services.
While Vasavada didn’t disclose the specific AI technologies powering Vise Intelligence, he did mention that the platform utilizes cutting-edge large language models fine-tuned using relevant investment and portfolio management data. This ensures that Vise Intelligence can create custom insights for individual clients, irrespective of their financial backgrounds or goals.
Vasavada further explained, “Think about it as inputs from the market, the client, and the advisor.” Vise Intelligence incorporates market trends, client-specific information, and guidance from the financial advisor to provide comprehensive analysis and recommendations. The platform considers previous positions, trades, gains and losses, as well as factors like financial milestones and risk tolerance to deliver actionable insights.
Addressing concerns about data security, Vasavada assured that Vise places great emphasis on maintaining strict security measures to protect client information. Although specific details regarding data security protocols were not provided, Vasavada reiterated that “the data is very secure and protected.”
Vise envisions a future in which technology and investment management go hand in hand, creating a transformative landscape in wealth management. Vasavada believes that Vise can be the go-to platform for financial advisors seeking to serve more clients efficiently while maintaining a human touch. By leveraging Vise Intelligence, financial advisors can enhance productivity, manage larger client bases, and ultimately strengthen client relationships.
As scaling opportunities increase, Vise benefits from a business model that charges a percentage of assets under management on their platform, as stated in their Form ADV. By aligning with the evolving needs of financial advisors, Vise continues to provide its original services while integrating advanced AI capabilities, further solidifying its position as an industry leader.
In conclusion, Vise Intelligence represents a significant milestone in the financial advisory landscape. By leveraging the power of AI, Vise empowers financial advisors to deliver exceptional services, improve investment outcomes, and navigate the evolving demands of wealth management. As innovation and technology continue to reshape the industry, Vise stands at the forefront, ready to revolutionize the way financial advisors operate.
