AI company Anthropic has launched a new suite of tools designed specifically for financial advisers, connecting its Claude chatbot with investment analytics and wealth-management software from major firms including BlackRock, Charles Schwab and Addepar.
The new product, Claude for Financial Advisors, is designed to help financial services firms prepare for client meetings, review investment portfolios and handle follow-up tasks more efficiently.
The launch expands Anthropic’s growing presence in the financial services industry, where the company has been developing Claude-powered tools for investment research, portfolio analysis, financial modelling and the preparation of client materials.
The new offering also integrates Claude with data and software from Envestnet, iCapital, Orion, Wealthbox, Wealth.com and Zocks.
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Anthropic’s move comes just days after rival OpenAI introduced a version of ChatGPT aimed at the financial services sector. That offering targets investment bankers and equity researchers with tools for financial research, modelling and client presentation materials.
The growing competition comes as the AI industry faces increasing scrutiny over the pace and cost of technological development. Industry leaders and investors are debating whether current levels of AI spending can be sustained and how quickly the technology should advance amid concerns about potential misuse.
For financial advisers, Anthropic’s latest offering represents another step toward integrating generative AI directly into investment and wealth-management workflows, potentially allowing professionals to spend less time on routine preparation and administrative tasks.
