AI-powered robo adviser takes aim at the richest clients


It's another step in the march toward advice that erodes investors' needs for human help: A robo adviser focused on serving the high-net-worth client, powered by artificial intelligence and designed to automate their specific tax management concerns. The technology differs from other AI-enhanced wealth management tools, adds Kane, whose platform has started offering advanced features for its clients, such as providing loans as an asset class. "[Other] AI is built for a robo adviser client, [but] Hedgeable's AI is built for a private banking client," he says, adding that Katana's goal is to provide live financial planning and alerts, estate and trust services, and eventually full family office and legal functionality. To that point, Kane sees AI rapidly spreading across wealth management, as the technology has already found a footing in the banking industry.