Anthropic announced Claude for Financial Advisors, which connects Claude with advisor technology and adds workflow tools for research, meeting preparation and documentation. Anthropic said the offering is intended to reduce time spent on administrative work.
In a blog post, Anthropic cited Kitces research in saying a typical advisory practice spends just a sixth of its time in client meetings and spends the rest of its time mainly dealing with those meetings, “piecing together information across systems to prepare, plan, and document what was discussed.”
Claude for Financial Advisors features connectors that Anthropic said let Claude “access the custodians, asset managers, and wealth technology providers advisors rely on most, so an advisor can work with a client’s information in one place.”
The new AI suite also includes skills that it said use that client information to assist with specific tasks, including meeting prep, portfolio analysis and compliance checks.
Anthropic listed several firms that are supporting Claude for Financial Advisors: Addepar, BlackRock, Schwab Advisor Services, Envestnet, iCapital, Orion, SS&C Black Diamond, Vanguard, Wealthbox, Wealth.com and Zocks.
The bundled Claude for Financial Advisors plugin can connect to BlackRock, Schwab, Addepar, Envestnet, iCapital, Orion, Wealthbox, Wealth.com and Zocks. Advisors choose which services to connect during setup.
Some partners also have their own plugins. Anthropic said BlackRock is launching one for Advisor Center, while S&P Global and LSEG already offer plugins.
Schwab Brings Claude To RIAs
Schwab’s connector gives Claude access to custodial information such as balances, positions, transactions, cost basis, alerts and money-movement status. Anthropic said advisors can use the information to identify clients who need attention and prepare for reviews.
In a news release, Schwab said it is working with Anthropic to bring Claude for Financial Advisors directly to the more than 16,000 independent RIAs it serves.
“Independent advisors have always succeeded on the strength of their relationships, and relationships are built on advice, service and client experiences that stand apart,” Jon Beatty, Head of Schwab Advisor Services, said in Schwab’s news release.
“AI is exponentially powering the ability of advisors to stand apart in this way, even more so if it is integrated with the proprietary workflows and tech stacks advisors have already built.”
Beatty added, “Anthropic is building AI at the frontier of what’s possible. Bringing this solution directly to our clients, purpose-built for the environment they operate in, is how we help advisors claim the next frontier of advice.”
“Our goal is to bring the benefits of AI to as many families as possible, and a direct path runs through the advisors they already trust,” Peter Nolan, Head of Asset and Wealth Management at Anthropic, said in Schwab’s release.
Nolan added, “Collaborating with Schwab and the 16,000-plus independent RIAs it serves brings Claude to the firms doing that work every day, starting with a clear view of what has changed for each client.”
The new integrations joined other connectors already available in Claude, including Box, Microsoft 365, Morningstar and Salesforce, Anthropic said.
Anthropic said advisors must still review and approve investment recommendations, client communications, compliance determinations and other regulated activities.
Dynasty Builds AI Operating System On Claude
Separately, Dynasty Financial Partners announced the next generation of Dynasty AI, which it described as an AI operating system for wealth management that uses Anthropic’s Claude models.
Unlike the connector and plugin relationships above, Dynasty is embedding Claude models into Dynasty Desktop as part of its own AI system. Dynasty said the system can analyze information across an advisor’s book and generate proposals, reports, presentations and pre-filled paperwork for review.
Dynasty said Book-Level AI Chat is in early release with select firms, with a broader rollout planned later in the fourth quarter.
“This is the moment the industry stops adapting to AI and starts running on it,” Shirl Penney, Dynasty Founder and CEO, said in a separate press release.
Penney added, “We couldn’t be more aligned with Anthropic on helping to power the independent movement. Dynasty advisors demand simplicity, and now they have Claude’s frontier models built right into the Desktop where all their business and client data already live.”
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
