SigFig, a digital wealth management solutions and technology provider, is rebranding as Tandems.
The firm announced the name change this week, along with the launch of an artificial intelligence (AI)-native wealth operating system for financial advisors. In what the firm calls its latest ecosystem, WealthOS aims to automate administrative tasks and manual work to free up time for advisors wanting to connect with clients.
“The financial advisory industry is at a crossroads in the US, with more Americans than ever being called upon to save for their own retirement and more people than ever before actively investing. Meanwhile, you have an industry that runs on outdated technology and is constrained by a slowly shrinking pool of advisors,” said Mike Sha, co-founder and CEO of Tandems, in a statement.
It’s not the first time the firm leans on AI technology. Last year, it announced new AI solutions to its financial advisor collaboration platform, Engage, built to blend human expertise and technology.
According to Tandems, the new ecosystem is built upon three core solutions, including:
- TandemsMeet: The solution uses specialized AI tools to improve meeting management, from scheduling through to all post-meeting administration activities, and includes a suite of tools for in-meeting collaboration.
- TandemsGrow: Integrates with the datasets and workflows of financial professionals.
- TandemsInvest: Offers frictionless investing and personalization at scale. The solution generates advice based on client goals and makes investment recommendations while automating portfolio operations with rebalancing and tax optimization.
Founded in 2006, the firm currently services over $60 billion in assets across two million accounts and 6,000 advisory professionals.
The rebrand and latest launch come at a pivotal moment in the personal finance and retirement planning industry, as more firms incorporate AI technology to streamline advisor tasks, and as some even utilize it to provide financial guidance on certain subjects.