AI provider to the advisory industry, CogniCor, announced this week that its Wealth Co-Pilot now includes the firm’s proprietary Insight Engine.
“This solution is designed to empower financial advisors to maximize client engagement while reducing repetitive, non-accretive tasks, but more importantly, can take all this information and deliver actionable insights for advisors to use directly with clients,” CogniCor founder and CEO Sindhu Joseph said in a statement.
The company has been a pioneer in the use of artificial intelligence specific to the advisory industry.
In April 2021, it launched its first three digital assistants, one each for forms, navigation and call routing. In December of that year, it launched an industry-specific knowledge graph—a conceptual map of topics, terminology and content to provide AI-enabled solutions with a knowledge base to interpret user intent and produce customized guidance.
Since then, CogniCor has continued working with the advisory industry, becoming available to RIAs working with custodian Charles Schwab in mid-2022. The $19.3 billion AUM Sequoia Financial Group was the first Schwab affiliate to begin using CogniCor’s platform.
The company’s Wealth Co-Pilot integrates with an advisory firm’s existing CRM and tech stacks to automate a firm’s repetitive tasks and workflows, which can include pre-meeting preparation, note-taking and follow-up, form completions and client servicing tasks like customer call resolution.
CogniCor’s Insight Engine ingests all of an advisory firm’s available data and enables the delivery of personalized advice based on that information.
Venture-funded and female-founded in 2018, CogniCor won a 2024 WealthManagement.com Industry Award for artificial intelligence technology provider. It previously was chosen to participate in Morgan Stanley’s Summer 2021 Multicultural Innovation Lab Cohort. Among its investors is Ramaswamy Nagappan, chief information officer for BNY Mellon Pershing.