New private wealth management firm pioneers the use of AI chat assistant tech
A boutique wealth management firm launched this month plans to use cutting edge digital technology to provide expert face-to-face advice for its clientele.
City Wharf Private Wealth (CWPW), a new, modern UK wealth management firm backed by St. James's Place, is already making waves in the industry by pioneering the use of an enterprise-grade artificial intelligence (AI) chat assistant to provide 24/7 customer support to its clients.
"We believe that technology and AI can, and should be used to help firms and their clients effectively engage and communicate with each other. Through this pandemic, we have seen the importance of getting answers to customers quickly in order to reassure them, the need to make communication smarter and more digital, and the importance of being able to add value despite what is going on within the world," says CWPW Co-Founder, Ashlea Atigolo.
Ashlea's 15 years of operational and change management at director level and experience within firms such at St James's Place have positioned her well for this new endeavour. She and Co-founder Elemi Atigolo created the business with a mutual mission to ‘change the way that wealth is seen, felt and experienced through innovation, technology, and inclusivity'.
Elemi's career has also spanned over 15 years, advising CEOs, Directors, Entrepreneurs, and families at firms like HSBC, and St James's Place.
Both partners also have a broad background in fintech, private wealth management, business consultancy, startups, and artificial intelligence, which has had a profound influence on their business model and ethos.
Elemi says: "My experience and time within the AI innovation and Fintech industry enabled me to see first-hand what modern, tech-savvy clients are looking for, and the innovation that was available within fintech platforms. I noticed that many of these platforms still added a form of human advice to their offering. I believe that individuals still require and seek reassurance from human interaction. This is seen even more throughout this pandemic where people want to virtually see and engage with an adviser more often."
The two co-founders say they saw a gap in the market for a wealth management firm that caters to modern individuals who want a combination of online expert face-to-face financial advice, a firm that integrates environmental, social and governance (ESG) principles into their core values and access to an institutional investment approach.
"Right now, we believe people want to build a relationship with a firm with core values of making a positive impact on society and/or the environment. It is also important that the firm they choose represents a true reflection of modern society. The depiction of wealth for many decades has not truly represented all of modern society. We believe that there is a gap in the market for a wealth management firm that caters to individuals who want to see a firm that integrates environmental, social and governance (ESG) principles and reflects a more inclusive society at large," Ashlea says.
CWPW's digitally-led model should be attractive to busy, modern individuals, entrepreneurs, and professionals of all ages with complex needs, who are time-poor but still seek face-to-face advice, the reassurance of human interaction, access to responsible investment planning and solutions combined with the convenience of modern digital services and access to an institutional investment approach.
"CWPW was built with an omnichannel approach, a client-focused digital platform with video technology and an AI customer service. This offering enables our firm to resonate with today's digitally-led clients who also want; expert face-to-face advice, a full bespoke wealth management service, and access to responsible investment planning and solutions," says Elemi.