With a trend toward more demand for managed accounts, 401k advisors who are craving more tech and automation to drive efficiency in their businesses are exploring new options.
New York-based Vise, a technology-powered asset manager that allows financial advisors to build custom portfolios in minutes, today announced that RIA firms Greenstone Wealth Management and CPR Financial and Insurance Services are among those now using the Vise platform.
According to a recent Accenture study, 87% of advisors want to use more AI tools day-to-day.
At the same time, consumers face a lot of potential uncertainty and need great financial advice and smart strategies more than ever. Vise says having access to technology that can allow advisors to be more precise based on each client’s specific needs, and automate tax savings, is critical during this time.
Prosper, Texas-based CPR Financial and Insurance Services, an asset management firm, focuses on providing 401k plan solutions to businesses. Partnering with Vise has helped them add scale to the business as they’ve offloaded the intricacies of trading and investment management to the Vise platform. The firm, founded by Charles Rosen in 2008, manages about 500 clients with only four advisors on staff, a level of efficiency Rosen says they’ve achieved by combining the right tech with the right staff.
“Our clients like Greenstone and CPR are the reason I’m excited to get up and come to work every day,” said Vise Co-founder and CEO Samir Vasavada. “We’re looking forward to continuing to work with RIA clients of all shapes and sizes to grow their businesses by using technology to manage assets in a more personalized and automated way.”
Forest City, Iowa-based Greenstone Wealth Management is a financial planning business focused mainly on helping employees of local businesses save and plan for retirement. The firm manages over 130 client accounts and partnered with Vise as they were getting their business off the ground and realized they needed a solution to handle investment management.
“My clients hire me because they don’t know investments,” said Greenstone President Taylor Wilson, who is also the sole financial advisor at the firm. “When you start showing them there are actual companies behind the single securities they are investing in, they start to lose the idea that stocks are just equity in a company and develop emotional ties to and newfound interest in their investments and the work I’m doing for them.”
Vise’s asset management platform automatically creates custom investment portfolios and strategies tailored to life goals, personal values, and the daily ups and downs of the market. With 2500+ client accounts under management, the venture-backed fintech company has raised $128 million from investors like Sequoia, Ribbit Capital, and Founders Fund.
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