Palo Alto-based AI and orchestration platform CogniCor announced the expansion of its Advisory Board by adding six industry leaders. Recently, the firm announced the addition of Chairman and Co-Founder of Beacon Pointe Advisors, Shannon Eusey.
The expanded board includes executives with experience in building and scaling RIAs, advising wealth management firms, wealth technology development and fintech investing.
“AI in wealth management is quickly moving beyond meeting notes and individual productivity tools,” said Sindhu Joseph, CEO and Co-Founder of CogniCor. “The next opportunity is much larger: bringing together intelligence across the entire household, the advisor’s book and the firm, and using it to drive advisor capacity, deeper client relationships and organic growth.”
The leaders joining Eusey on the board include Joseph Kuo, CEO and Founder of Haven Tower and Co-Founder and Managing Partner of Ascentix Partners, who will serve as the chair; Matthew Incitti, Vice President of Sales & Marketing, Hamilton Point Investments; Louis Diamond, CEO, Diamond Consultants; Allison Couch Pratt, Founder and President, Anchor Point Strategies; Jim Roth, Partner, Ascentix Partners; and Douglas Wilber, Operating Partner, SixThirty Ventures, which has been an active investor in the firm since 2017.
“We have deliberately brought together leaders who understand this opportunity from very different vantage points: building and scaling RIAs, advising industry leaders, creating and commercializing technology and driving strategic growth,” Joseph said. “Their collective perspective will be invaluable as we scale CogniCor and help define what the next generation of wealth management technology looks like.”
Firm Targets Broader AI Applications
CogniCor is positioning its technology around broader uses of AI across advisory firms, moving beyond tools designed primarily to automate individual tasks.
CogniCor is positioning its technology around broader uses of AI across advisory firms.
The company said early wealth management applications of AI have focused largely on point solutions such as note-taking and meeting planners. CogniCor is instead seeking to connect information across an advisor’s book of business and the broader enterprise to support additional capacity, client service and growth.
The firm pointed to results from its work with Plancorp Wealth Management as an example of that approach.
Earlier this year, St. Louis-based RIA Plancorp Wealth Management was the subject of a case study examining its use of CogniCor’s Advisor Copilot. During the 28-day study, Plancorp estimated that its client-facing users saved more than 700 hours, including time on meeting preparation and follow-up tasks. The study also reported efficiency improvements across 17 metrics.
CogniCor said the board will advise its leadership team as the company expands its work with RIAs and develops its technology.
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