How AI helps wealth management professionals perform due diligence
More recently, the business’s chief executive and founder, John Cushing, explained why such an offering matters to the wealth management community.
“An industry trend over the last few years is how the largest investment houses have come down the food chain to acquire more interesting and faster-growing businesses,” he told this news service in a call. Another force at work is that family offices and other UHNW investors want to cut out a layer of management fees and go direct, but to do that they need the calls.
The digital tools offered by mnAI have prompted a big flow of inquiries, Cushing said. “We have first-mover advantage,” he said.
“Lots of firms [investors] are still using Google and a spreadsheet [in performing investment due diligence],” he continued.
AI can provide valuable data to investors in the early rounds of financing requests – however, it does not eliminate the need for human interaction and some manual checks and awareness, Cushing said.
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