Ken Lotocki, Chief Product Officer at Conquest Planning, joined Noam Tasch, Head of Platform Sales at BNY Pershing, to discuss the firms’ strong partnership and the strength it brings to end clients.
Conquest’s mission is to make financial advice accessible to a wider audience, focusing on both improving the planning process and ensuring clients can execute on their financial plans. A critical part of their platform is gathering accurate data, which is made easier through Conquest’s partnership with BNY Pershing’s Wealth Platform, Wove, allowing them to access reliable custodian data.
Central to Conquest’s approach is their Strategic Advice Manager (SAM), an algorithm designed to offer personalized financial strategies based on individual client needs, preferences, and risk tolerance. SAM is further enhanced by large language models, which help identify new opportunities and streamline tasks like plan analysis and onboarding.
Tasch and Lotocki say that using AI to complement human advisors enhances the ability to offer personalized advice at scale, allowing advisors to provide faster, more effective, and fiduciary-driven advice.
Looking ahead, Conquest and BNY Pershing aim to broaden their reach, particularly to the mass affluent market, where access to quality advice is limited. By integrating AI with client-facing tools, Conquest hopes to engage clients more effectively and help advisors serve a larger pool of individuals, making financial planning more inclusive.
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