Anthropic Targets Financial Advisers with New Claude Tool
Anthropic says the tool will speed research, administration and portfolio oversight for advisers while stopping short of direct investment advice.
- On Monday, Anthropic launched "Claude for Financial Advisers," connecting its chatbot to investment analytics software from BlackRock, Charles Schwab, and Addepar to streamline portfolio reviews and client meeting preparation.
- Building on its broader financial services push, Anthropic developed tools for investment research and financial modeling, following rival OpenAI's recent introduction of a ChatGPT version targeting investment bankers and equity researchers.
- BlackRock manages about $300B in model portfolios advisers increasingly buy off the shelf, while firms including Vanguard, iCapital, Orion, Wealthbox, and Wealth.com also integrated the chatbot into their platforms.
- Anthropic head of financial services Jonathan Pelosi noted the adviser community is shrinking, stating, "These people are retiring, there's not a ton of them," as the tool automates administrative capacity rather than providing investment advice.
- Regulatory bodies like ESMA maintain that using AI does not absolve firms of obligations under MiFID II to act in a client's best interest, even though the European AI Act does not specifically cover investment advice.
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IA Anthropic's laboratory launched on Monday (14) a set of tools for financial consultants, connecting its chatbot Claude to investment analysis and asset management software from companies such as BlackRock Charles Schwab and Addepar. Exclusive material for subscribers. To have full access, access the link of the subject and register.
Anthropic has built a Claude tool for financial advisers
Anthropic has launched Claude for Financial Advisers, wiring the chatbot into portfolio and research tools from BlackRock, Vanguard, Charles Schwab and iCapital, and says it will not give investment advice. Under MiFID II advice turns on a five-part test in which suitability can be implied rather than stated, and ESMA has told firms that using […] This story continues at The Next Web
Anthropic Pitches New Claude Tool for Financial Advisers
Anthropic PBC is pitching financial advisers on a version of Claude that blends the chatbot with financial analytics and risk management technology run by BlackRock Inc., Vanguard Group Inc. and other firms.
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