Abbas Shah, Founder of AllocateRite, joined Julie Cooling, Founder and CEO of RIA Channel, to discuss how AI can be used by advisors beyond simply summarizing information.
AllocateRite won the Emerging Technology Award at the March 2025 T3 Technology Conference for its innovative AI-driven wealth management platform. The platform assists RIAs, hedge funds, and private equity funds with operations, investment management, and client management. Shah’s experience includes hedge fund portfolio management and the development of fixed-income trading systems.
To date, many AI applications used by advisors have been used to summarize documents, create emails, and organize data from multiple documents. AllocateRite moves beyond those typical AI applications to provide services including direct indexing, rebalancing, risk forecasting, and tax optimization. The firm’s AI agent, Ask Newt, allows advisors to search for data across a fragmented tech stack.
The firm has created an infrastructure that secures client data while preventing the AI from hallucinating, which provides incorrect information. This includes the proprietary data management and logic layers. While the model trains on the advisor’s clients, no data from one client is used to train the model for another client. AllocateRite integrates with any large language model, including OpenAI, DeepSeek, and Gemini.
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