North Little Rock, Arkansas-based RIA Sowell Management, announced a partnership with Los Angeles-based Altruist to offer custodial services and support to the firm’s advisors. Through the partnership, Sowell’s advisors will have access to Hazel, Altruist’s AI platform built to help advisors grow their businesses organically.
“Adding Altruist to our lineup of custodians gives our advisors greater flexibility to grow their business and service their clients,” said Daryl Seaton, CEO, Sowell Management. “The new Hazel platform is a game changer for advisors of all sizes. It offers them innovative and intuitive client-centric AI tools they can use to scale their practices, streamline their workflows and enhance their financial planning capabilities, all while giving them more time to devote to clients and prospects.”
In December, Altruist announced it connected Hazel to real-time account data. With direct access to data, such as beneficiaries, households, holdings and balances, the firm claimed that Hazel can quickly provide personalized answers and client responses and tap custodial records in seconds to reveal sector exposure, household-level concentration or beneficiary summaries.
“The executive team at Sowell understands the critical role the right technology can play in achieving success in wealth management and we are looking forward to partnering with them at this pivotal point in their firm,” said Jason Wenk, Founder and CEO of Altruist. “In addition to supporting Sowell’s ambitious growth plans, we are grateful to have Daryl Seaton join us as a featured speaker at Altruist’s Build to Grow Summit.”
In a news release, Sowell said that partnering with Altruist will allow the continued responsible integration of AI into its tech stack, and that these capabilities will enable small- to mid-sized advisory practices at Sowell to level the playing field with larger practices.
Sowell had over $6 billion in assets under management and advisement as of September.
Wealth Solutions Report can be reached at info@wealthsolutionsreport.com.
