Innovation Awards: Innovation in Automation — Savvy Wealth
Since it launched in July 2021, Savvy Wealth has built an entire AI-backed advisor platform and software services based on one concept: time.
Savvy Wealth's "relentless focus is supporting advisors and giving them back time. This is theapproach we took" from the start, said the rm's founder and CEO Ritik Malhotra.
Savvy Wealth has built out a fully loaded bucket of software and services, including a customerrelationship management (CRM), billing, client onboarding, marketing software, investmentmanagement and operations capabilities. It supports more than 30 wealth advisors through its RIAafliate, Savvy Advisors, which manages more than $700 million in client assets.
Key to Savvy's growth has been its focus on reducing up to 35% of the time advisors spend on back-ofce operations by automating a large portion of those functions. This includes implementing an AI-powered Advisor Dashboard that automates critical functions like client communications, portfoliomanagement and the onboarding processes.
Unlike traditional systems, this platform leverages AI to actively manage client data, providing real-time insights and proactive alerts that guide the advisor on when and how to interact with clients. Italso uses a large language model similar to ChatGPT to draft communications and tailored nancialplans, freeing up the advisor to focus more on strategic and personalized advice for each client.
"The best strategy to really bring on advisors is having this very educative, consultative approach —really trying to understand their pain points. Don't force a sale," Malhotra said. "We're not trying tosell it. We're trying to see if this can actually help the individual's livelihood.
Innovation Awards: Innovation in Automation — Savvy Wealth
Since it launched in July 2021, Savvy Wealth has built an entire AI-backed advisor platform and software services based on one concept: time.
Savvy Wealth's "relentless focus is supporting advisors and giving them back time. This is theapproach we took" from the start, said the rm's founder and CEO Ritik Malhotra.
Savvy Wealth has built out a fully loaded bucket of software and services, including a customerrelationship management (CRM), billing, client onboarding, marketing software, investmentmanagement and operations capabilities. It supports more than 30 wealth advisors through its RIAafliate, Savvy Advisors, which manages more than $700 million in client assets.
Key to Savvy's growth has been its focus on reducing up to 35% of the time advisors spend on back-ofce operations by automating a large portion of those functions. This includes implementing an AI-powered Advisor Dashboard that automates critical functions like client communications, portfoliomanagement and the onboarding processes.
Unlike traditional systems, this platform leverages AI to actively manage client data, providing real-time insights and proactive alerts that guide the advisor on when and how to interact with clients. Italso uses a large language model similar to ChatGPT to draft communications and tailored nancialplans, freeing up the advisor to focus more on strategic and personalized advice for each client.
"The best strategy to really bring on advisors is having this very educative, consultative approach —really trying to understand their pain points. Don't force a sale," Malhotra said. "We're not trying tosell it. We're trying to see if this can actually help the individual's livelihood.
