Schwab partners with Anthropic to bring AI tool to advisors

Anthropic has launched a new tool called Claude for Financial Advisors. This suite is designed to help automate tasks such as research, meeting preparation, and documentation for financial advisors.

The tool connects Anthropic's Claude chatbot to investment analytics and wealth-management software from various firms, including BlackRock, Charles Schwab, and Addepar, according to Investing.com. It also integrates with data and software from other companies like Envestnet, iCapital, Orion, Wealthbox, Wealth.com, and Zocks.

The launch of Claude for Financial Advisors comes after a similar product was introduced by rival OpenAI, which targets investment bankers and equity researchers. Anthropic's new offering aims to help financial services firms prepare for client meetings, review portfolios, and handle follow-up work.

Brief written by urgent.news from Finextra, Investing.com — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.