Portfolio reviews, client meeting prep: Anthropic launches Claude tool for financial advisers
Rival OpenAI already has a version of ChatGPT that targets investment bankers and equity researchers
Anthropic, an AI lab, announced on September 14 the launch of Claude for Financial Advisors, a suite of tools designed to assist financial advisers. This new product connects Claude, Anthropic's chatbot, to investment analytics and wealth-management software from firms like BlackRock, Charles Schwab, and Addepar. The primary purpose of the tool is to aid financial services firms in preparing for client meetings, reviewing portfolios, and managing follow-up tasks.
This launch follows OpenAI's introduction of a version of ChatGPT for the industry on September 10, which aimed to provide tools for financial research, modeling, and creating client materials for investment bankers and equity researchers. Anthropic's initiative is part of its broader expansion into financial services, where it has developed various tools based on Claude for tasks such as investment research, portfolio analysis, financial modeling, and client material preparation.
The new offering integrates Claude with data and software from companies including Envestnet, iCapital, Orion, Wealthbox, Wealth.com, and Zocks. This announcement arrives at a time when the rapid development and escalating costs of AI are under increasing scrutiny, with industry leaders questioning the sustainability of spending and the pace at which the technology should advance, considering concerns about potential misuse.
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Also reported by 1 other outlet
- Anthropic pitches Claude for financial advisors techinasia.com
