FINNY Raises $17M Series A to Scale AI Prospecting for Advisors

FINNY has secured 17 million USD in Series A funding to expand its machine learning platform designed to help registered investment advisors address the organic growth squeeze. The investment round was led by various investors to support the company in providing automated prospecting and marketing tools for the wealth management industry. By leveraging unstructured data, the platform identifies potential clients for advisors and automates multi-channel outreach campaigns to streamline the business development process. 

The platform provides wealth managers with a suite of tools for content creation and client engagement while maintaining a focus on data cleaning and personalization. This technology allows advisors to move away from manual prospecting by using artificial intelligence to detect signals in the market that indicate money in motion. These capabilities are intended to help firms capture assets from the ongoing wealth transfer and the increasing number of individuals entering retirement. 

The application of artificial intelligence for prospecting and content creation is currently considered one of the most effective uses of technology within wealth management. While AI is highly useful for managing massive unstructured data sets and client engagement, industry experts suggest it remains less suitable for regulated activities like specific investment advice or portfolio construction. FINNY aims to utilize these strengths to help advisors scale their businesses by focusing on the initial stages of the client acquisition lifecycle.