The latest technology news in the wealth management sector from around the world.

Zocks

Zocks, an AI platform for financial services, has launched a capability that lets advisors and firms find untapped organic growth opportunities and unmet client needs across their book of business.

The US-headquartered firm calls itself a privacy-first AI platform.

Called Zocks Client Queries, it can reveal opportunities to users within seconds.

The new offering enables advisors to ask questions such as “Which clients have a 401(k) with a previous employer we could consolidate?” or “Which clients have a review due this quarter with over $500,000 in held-away assets?” Within seconds, they receive a list of clients that fit those parameters. Advisors are then prompted with a set of automated next steps, for example sending a personalized email that Zocks has already drafted, creating opportunities in a CRM system, or scheduling a meeting, moving seamlessly from insight to action.

On the servicing side, advisors can identify and act on service gaps across their entire book at once. For example, advisors can ask, “Which clients have a significant age milestone in the next 90 days, and we haven’t spoken with them in the past 12 months?”

At a time when advisors want to be sure that they can increase growth and revenues, and improve client retention, they are being offered AI and other tech tools to prospect for opportunities. 

WealthAi
WealthAi, which says it is an AI operating system for wealth managers and family offices, has launched a new client management solution to replace fragmented records, notes and generic CRM systems.

The new offering – called WealthAi Client File – is integrated directly into the WealthAi Assistant. It continuously updates from meetings, live data feeds and WealthAi's AI notetaker.

The service is designed to reduce the amount of time – currently almost 40 per cent – that advisors spend daily on administrative chores, WealthAi said in a statement. 

"Traditional CRM platforms such as Salesforce and Monday.com were never purpose-built for wealth management or private banking. Firms have spent years adapting generic sales and pipeline management tools to support highly specialized client relationships, regulatory requirements and workflows,” Izel Ersoy, chief product officer and co-founder of WealthAi, said. “Consequently, their systems often become overly complicated, requiring advisors to navigate countless fields, workflows and screens, or too limited to capture the full complexity of a client relationship.”