Docupace, a back-office technology provider that serves broker-dealers and RIAs, has unveiled a roadmap to build what it says is the industry’s first agentic AI platform, designed to automate as much as 80% of manual processes across advisory operations.
In a new position paper, the firm lays out a vision for deploying “digital teammates” that can reduce onboarding time by 90%, accelerate account processing by 85% and cut compliance errors by 75%.
The rollout includes an advisor onboarding agent, account management agent and document extraction agent, with phase two introducing surveillance and compensation tools to reduce false positives and improve payout accuracy. Each agent is purpose-built for wealth management, rather than adapted from horizontal AI platforms.
According to a press release, the initiative targets a $50 billion annual inefficiency gap caused by paper-based workflows, not-in-good-order (NIGO) rework and compliance bottlenecks.
“Our vision is to bring intelligent automation to every operational layer, so firms can focus on what truly drives value: advice and client relationships,” said CEO David Knoch.
The release cites 2024 Cerulli data stating that more than 105,000 advisors are expected to retire over the next decade. Docupace argues that streamlining back-office complexity will be key to smooth succession and client retention.
By 2027, the firm projects AI-driven operations will be standard across the wealth management ecosystem.
James Miller, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at ContributingEd@wealthsolutionsreport.com.
