The CEO of the firm is in California this week to discuss with other senior figures, including the asset and wealth management head of AI business Anthropic, how AI will affect the industry in increasingly detailed ways.

Dynasty Financial Partners and Schwab continue to flex their AI credentials like so many other wealth managers and financial firms. For example, yesterday Florida-headquartered  Dynasty unveiled the next generation of what it calls Dynasty AI. 

This is an AI operating system for wealth management that uses the Claude models of Anthropic.

Advisors can ask a question across every client, account, and document in their book, get an answer, and turn it into a proposal, report, or pre-filled paperwork ready for their review without ever leaving Dynasty Desktop, the firm said in a statement. 

The new offering is being showcased at this week’s Future Proof conference in Huntington Beach in California. Shirl Penney (main picture), Dynasty founder and CEO, is slated to join Anthropic's head of asset and wealth management Peter Nolan, Charles Schwab’s head of advisor services Jon Beatty, and Ritholtz Wealth Management managing partner Michael Batnick at the event this week to discuss how AI affects the industry.

Separately yesterday, Schwab Advisor Services, Charles Schwab's business supporting RIAs, announced that it is working with Anthropic to bring Claude for Financial Advisors, Anthropic's new offering, directly to the 16,000-plus independent RIAs Schwab serves.

Ecosystems
Looking ahead, Dynasty is working on developing “deeper ecosystem connections” into the advisor experience, creating a “virtual chief of staff” to curate an advisor's working day.

“This is the moment the industry stops adapting to AI and starts running on it,” Penney said. “The way we see it, Anthropic is the engine, Dynasty builds the plane, and the advisor is always the pilot. We build the plane so advisors can fly it, at scale, safely, without ever touching the machinery underneath. The result is, we are not giving advisors another dashboard, we are giving them their time back!”

In the Schwab case, it explained that the Claude for Financial Advisors platform supports the work that advisors complete throughout a day, from prepping for a client meeting to helping explain a portfolio change. It features skills and new connectors to tools that the firm already uses to run their businesses, including CRM, custody, portfolio reporting, financial planning, estate planning, and meetings.