The wealth management group has launched an AI tool that is designed to boost advisor productivity dramatically.

Carson Group, overseeing more than $42 billion in AuM, has launched its new AI assistant, “Steve”.

The AI assistant is designed to save advisors time by analyzing data in real time and providing rapid answers to their queries. Carson expects “Steve” to help advisors double the number of households they can serve over the next five years. 

Such a figure demonstrates why wealth managers are putting money into AI and exploring a variety of use cases, such as the “co-pilot” models of AI. AI is changing the value chain of the private wealth sector, right up to the level of single-family offices, as was discussed at this news service’s family office forum in Manhattan, in April. (See here and here.) The productivity benefit also fits with concerns that the average age of North American advisors is rising, creating questions about a talent shortage.

“Our new AI assistant showcases how much value in innovation, efficiency and growth tools we are bringing to advisors at Carson Group,” Dani Fava, Chief Strategy Officer of Carson Group. “This chatbot isn’t just about faster answers—it’s about smarter conversations, deeper understanding and delivering real value at scale. Our goal with Steve AI is to make expert content truly on-demand for advisors. We’re reducing friction, accelerating onboarding and letting advisors focus on what they do best—building client relationships.”

“We’re proud to offer this new solution that empowers advisors to find information faster and with more confidence through conversational AI. Advisors can clarify follow-up questions in real time by asking for examples or more specifics, and it updates the answer on the spot,” Fava said. “Steve is the first AI tool developed by Carson Group, and we were able to do so because we own our proprietary data.”