Advisory industry AI provider CogniCor announced this week that its Wealth Co-Pilot now includes the firm's proprietary Insight Engine.
“This solution is designed to empower financial advisors to maximize client engagement by reducing repetitive, inactive tasks, but more importantly, it can take all of this information and deliver actionable insights for advisors to use directly with customers.” CogniCor Founder and CEO Sindhu Joseph said in a statement.
The company has been a pioneer in the use of artificial intelligence specific to the consulting industry.
In April 2021, it launched its first three digital assistants, one each for forms, navigation and call routing. In December of that year, it launched an industry-specific knowledge graph—a conceptual map of topics, terminology, and content to provide AI-enabled solutions with a knowledge base to interpret user intent and produce personalized guidance.
Since then, CogniCor has continued to work with the advisory industry, making itself available to RIAs working with custodian Charles Schwab in mid-2022. The $19.3 billion AUM Sequoia Financial Group was the first Schwab affiliate to begin using CogniCor's platform.
The company's Wealth Co-Pilot integrates with an advisory firm's existing CRM and technology stacks to automate a firm's repetitive tasks and workflows, which can include pre-meeting preparation, note-taking and follow-up, form completion, and customer service tasks such as resolving customer calls.
CogniCor's Insight Engine ingests all of an advisory firm's available data and enables personalized advice based on that information.
Venture-funded and founded by women in 2018, CogniCor won a 2024 WealthManagement.com Industry Award for Artificial Intelligence Technology Provider. Previously selected to participate in Morgan Stanley's 2021 Summer Multicultural Innovation Lab Cohort. Among its investors is Ramaswamy Nagappan, chief information officer for BNY Mellon Pershing.