Patronus chooses WealthAi as unified operating system

UK wealth management firm Patronus Partners has selected WealthAi as a unified operating system to integrate with its existing infrastructure.

WealthAi is an artificial intelligence (AI) operating system designed for wealth managers, and will be fully deployed front-to-back across all Patronus’ users and agents.

Patronus noted that it had accumulated a patchwork of unconnected legacy systems that operated in isolation, created duplication, and placed significant administrative burden on its wealth managers and operational staff.

The firm started exploring AI integration 18 months ago and found that while it saw the potential of the technology, using individual solutions from several providers created inconsistent output that did not understand the nuances of wealth management.

Using multiple solutions was also found to be difficult and time consuming to ensure compliance oversight, and processes that required near-constant manual updating as the technology evolved.

Patronus ultimately decided to use WealthAi as a unified operating system to integrate with its existing infrastructure and reduce the operational burden caused by disconnected legacy systems.

"Before adopting AI, we had a plethora of different systems, none of them talking to each other, all rather archaic, with limited intelligence let alone AI,” said Patronus Partners director, Jeremy Steinson.

“Like most wealth management firms, it often felt as though we were spending most of our time handling admin when all we wanted was to get back to serving clients and ensuring best outcomes for those clients.

“In WealthAi we believe that we have found an AI-native platform that understands our market, can be fully embedded throughout our business, can link to any additional tech provider we need to use, and - crucially - updates automatically without manual intervention from us.”

WealthAi CEO, Jason Nabi, added: "Patronus is a great example of where the wealth management industry is right now - and a really exciting example of the sort of innovative approach wealth management firms want to take to make their systems and processes work harder, faster and better for clients.

“Firms like Patronus have been experimenting with AI for the best part of two years, but where they struggle is in trying to bolt the latest AI tools onto one another, or onto legacy systems that were never designed to work together.

“What they actually need is an operating system that connects everything - front to back, across every workflow, with the compliance and governance controls built in from day one.”

---