CleverAdviser, a cloud-based fund analysis service created by a Cheshire-based IFA, has hit £1bn of adviser client assets under management (AUM) across more than 4,000 individual investors.
CleverAdviser uses artificial intelligence to help financial advisers make decisions on fund selections for their clients. It sends a monthly newsletter to its users recommending a switch or no switch for funds within client portfolios. The adviser then has the final say whether or not to switch funds. The software programme is entirely based upon data and algorithms and has no human influence when assessing funds. CleverAdviser is hoping to expand its client base and has recruited former Genovo sales and marketing director Patrick Boughton to help with the task. Wade Financial fina...
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