Vestorly, a company whose platform allows advisers to sift through content to share with clients, is using the $4.1 million in fundraising it recently secured to implement artificial intelligence technology to its services.
With this type of AI technology, algorithms will assist advisers in curating content relevant to their clients, helping advisers save six hours a week in work hours, said Justin Wisz, co-founder and chief executive of Vestorly.
The company recently launched Vestorly Suggestions, an automated email that provides advisers with articles they may want to share with clients and prospects.
The company is also introducing a mobile experience for smart phones and tablets in a few weeks that will find relevant news throughout the day for advisers to share.
Jere Doyle, managing director at Sigma Prime, will join Vestorly as a board member.
Pershing added Vestorly’s services to its adviser offerings last summer.
Unlike the type of artificial intelligence well-known in Hollywood hits, where computers can use logic with all of the information on the web and become self-reliant, Vestorly uses “Artificial narrow intelligence,” which uses algorithms to find more relevant content quicker than an adviser could.