TIFIN's AI Assistant has added several new
capabilities for those who have linked their brokerage and other
accounts, leading to strong growth in user adoption of this
capability in its first year
BOULDER,
Colo. and NEW YORK,
June 26,
2024 /PRNewswire/ -- Magnifi by TIFIN, the AI-powered
financial assistant for individual investors, has crossed a new
milestone in providing individuals with real-time intelligence on
their connected investment accounts. Magnifi users have now linked
more than $2 billion in assets across
their brokerage and self-directed accounts, showing impressive
growth in the demand that individual investors have for AI-powered
investment support. What started in 2023 with the ability to
identify hidden risks across a customer's investment accounts has
grown to include end-to-end performance monitoring, personalized
market alerts, portfolio health checks, and buy/sell impact
analysis — all available in a generative AI interface.
Magnifi is leading the way in terms of an investment AI
assistant that can look across all of an individual's investment
portfolios, to highlight where an investor has too much risk,
analyze portfolio holdings, alert to market movements, and
recommend potential improvements. The AI technology, built in-house
at Magnifi, can leverage the information from the connected
accounts to answer specific questions such as: "What happens
if I buy NVDA?", "How much Apple do I own?",
"What happens to my portfolio if interest rates
rise?", and more.
While users can trade directly on Magnifi, the firm does not
generate revenues from commissions or order flows. Instead, users
pay a monthly or annual subscription fee to use the service.
"In the last year we have seen incredible demand from individual
investors to gain better insight and intelligence on their holistic
investment positions across multiple accounts," says Magnifi Chief
Operating Officer, Tom Van Horn.
"Magnifi provides the ability for users to link multiple
investment, brokerage, and 401k
accounts to understand their portfolio health, concentration risk,
and how macro events impact their performance. We anticipate this
demand to accelerate further as Magnifi serves more and more
individuals."
To experience how Magnifi's AI assistant can answer an
individual's investing questions, visit magnifi.com.
About TIFIN
TIFIN is an AI and innovation platform for better wealth
outcomes. Founded by Dr. Vinay Nair,
TIFIN creates and operates new companies that apply data science,
AI, and technology to address frictions in wealth and asset
management. TIFIN's companies have included 55ip (sold to JP
Morgan), Paralel and currently include Magnifi, TIFIN Wealth, TIFIN
Give, TIFIN AG, TIFIN AMP, Sage, Helix, and TIFIN @Work. TIFIN has
been backed by JP Morgan, Morningstar, Hamilton Lane, Franklin Templeton, SEI, Motive Partners, and
Broadridge among others.
Media Contacts
Michael
Walsh
michael@therudingroup.com
AJ Boury
aj@tifin.com
The information contained herein should in no way be construed
or interpreted as a solicitation to sell or offer to sell advisory
services. All content is for informational purposes only.
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SOURCE TIFIN