Los Angeles-based Alai Studios , along with Shaping Wealth , has launched an innovative new AI behavioral finance assistant called Lydia . Advisors can speak with Lydia about different scenarios impacting their clients and the technology will provide guidance on how to help improve their communication strategies and provide different outlooks using the psychology of financial planning .

The technology is based on Shaping Wealth ’ s content , and built on the appreciation that financial planning is a deeply emotional process , in which skilled advisors play a pivotal role in providing support and guidance . Lydia ( unlike legacy AI platforms ) remembers advisor identities and their interactions , enabling continuous follow-up on advisors ’ skill development .

Summit Opens Access To Private Markets

Summit Financial Holdings , based in Parsippany , N . J ., has introduced an open-architecture platform for private markets , enabling advisors to seamlessly access a broad array of alternative investments on behalf of their clients . Led by the firm ’ s co-CIO Noreen Brown , this initiative aims to further differentiate client portfolios and offer them a potential for higher returns , as well as reduced exposure to market volatility , while making advisors more competitive . Summit will integrate access to platforms like Opto Investments and Arch so advisors can confidently navigate the complexities of private markets , increase their wallet share from existing clients and attract new wealthy clientele .

The platform gives advisors access to private equity , private credit , real estate and venture capital opportunities . They will also be able to invest in deals directly through the platform the way an institutional investor would , but with lower minimums and fees .

Intention . ly Unveils New Sales Tool For Firms

Intention . ly , a Philadelphia-based firm that helps financial services and fintech companies , including startups , outsource market planning , has launched a new outsourced sales development representative service . The service brings together lead generation and combines it with the services that Intention . ly offers so that firms have a tool for growth .

The new service will save companies from having to hire and manage an internal sales rep so they can dedicate their resources to other parts of their business . Clients will be paired with an experienced sales development representative and pay a small fee and a monthly retainer .

Arch Tools Improve Advisor Experience

Arch , a digital admin platform that modernizes private investment operations and investor communications , has added new tools to its platform . These new functionalities are designed to give financial advisors , private investment firms , accountants and individual allocators a smart workflow solution with unique insights into individual investments and broader portfolios . In addition to enhanced insights , these tools will reduce the time users spend on the cumbersome administrative responsibilities typically associated with private markets investing . One tool allows users to receive shortened versions of long reporting documents . Another allows them to look at financial charts that specifically focus on each of their investment holdings . Here they can see such things as historical performance and any developing trends , the firm said .

A third tool gives users the power to view an updated table for all their portfolio holdings , which includes the ability to customize their views and improve the web search feature .

Axxes To Launch Interval Fund Axxes Capital , a private markets investment firm , is launching an interval fund that will seize opportunities in the public and private credit spaces .

The Coral Gables , Fla . -based firm has filed the new fund , called the Axxes Opportunistic Credit Fund , with the Securities and Exchange Commission . The fund seeks to capitalize on assets that are mispriced because of disruptions in the public and private credit markets , looking for securities selling at discounts and highlighting any distressed or stressed areas of credit .

Greywolf Capital Management , a $ 4 billion credit manager , will sub-advise the fund , which has a $ 25,000 minimum , the firm said .

Orion Launches New Estate Planning Tool

Orion , a wealthtech solutions provider for fiduciary advisors , has added a new estate planning tool to its platform , one designed to take complicated subject matter and condense it to easy-to-understand visuals . The tool also has a dedicated workflow so advisors can collect and share relevant information on estate planning . The tool ’ s visualization features allow advisors and investors to clearly see who inherits which assets ( and when ) without the need to navigate through confusing legal documents . The tool can also model hypothetical scenarios , allowing advisors and clients to assess the impact of different estate planning strategies and decisions . An exportable table view feature guides clients through the entire estate planning cycle , ensuring clarity and understanding at every step .

14 | FINANCIAL ADVISOR MAGAZINE | MAY 2024 WWW . FA-MAG . COM