Anthropic targets financial advisers with new Claude tool

AI company Anthropic introduced new tools on Monday designed specifically for financial advisers, integrating its Claude chatbot with investment analytics and wealth-management software from major firms such as BlackRock, Charles Schwab, and Addepar. The product, called Claude for Financial Advisors, aims to support financial services firms in preparing for client meetings, reviewing portfolios, and managing follow-up tasks.

This launch comes shortly after OpenAI released a version of ChatGPT tailored for the industry, which focused on investment banking, equity research, and generating financial materials for clients. Anthropic's move expands its growing presence in the financial sector, where it has already developed Claude-based tools for investment research, portfolio analysis, financial modeling, and creating client materials.

The company's new offering connects Claude with data and software from Envestnet, iCapital, Orion, Wealthbox, Wealth.com, and Zocks. As the rapid pace and costs of AI development come under increasing scrutiny, industry leaders are debating whether the spending can be sustained and how quickly the technology should advance, given growing concerns about potential misuse of the technology.