RiXtrema Launches Game Changing AI Tools for 401(k) Plan and Financial Advisors with Versions 2.0 of AdvisorAI and 401kAI
Complete data privacy for the first time in the AI and finance industry; new capabilities increase advisor productivity and effectiveness 10X
NEW YORK, Sept. 26, 2023 /PRNewswire/ -- RiXtrema, a New York-based pioneer in developing innovative tools for 401(k) plan and financial advisors using machine learning (ML), artificial intelligence (AI), and data science, has announced the launch of version 2.0 of its game changing AI tools, AdvisorAI and 401kAI.
RiXtrema's new AI tools and their extraordinary capabilities give advisors the ability to do three hours of research in just three minutes, allowing advisors to increase productivity and effectiveness 10X. They completely change how advisors will work with client statements and documents by employing advanced computer vision technology and multiple language models to deliver actionable reports to any prospect within minutes of seeing a statement. Importantly, these tools protect data privacy, a capability unique to AdvisorAI and 401kAI and new in the AI and finance industry.
"With the release of AdvisorAI 2.0 and 401kAI 2.0, advisor technology will not be the same," said RiXtrema co-founder and president Daniel Satchkov. "Our new AI model for AdvisorAI and 401kAI is strictly gated, ensuring complete data privacy for advisors. Our model sits on a server that is completely protected. Each client's data is siloed and it goes nowhere else. ChatGPT, by comparison is dangerous for privacy. When you use ChatGPT, your data is incorporated into ChatGPT, or OpenAI, and essentially belongs to the world."
"If advisors thought ChatGPT was cool, wait until they try AdvisorAI and 401kAI 2.0," continued Satchkov. "Those who adopt this groundbreaking technology will leave everyone else in the dust."
ABOUT THE TOOLS
The new functionality revolves around analysis, recognition of PDFs, research, quick analysis of large portfolios or 401(k) plans, advanced computer vision technology and multiple language models, and data privacy. Important breakthroughs include:
- Ability to load any portfolio or plan menu from the PDF file. Go from a PDF of an individual statement or 408(b)(2) to a full research report in three minutes.
- Ability to create a detailed analysis of recent trends, fundamentals of every asset in the portfolio, and a near instant research report on a portfolio or any asset.
- Ability to ask economic or financial questions and receive fast and cogent answers with charts. For example: "What is the US budget deficit for the last 10 years compared to Canada, France and Japan? Please analyze the data and draw conclusions."
- Upload and ask questions about any prospect or client document in complete privacy (unlike ChatGPT which puts your data into their universe for everyone to access).
- Summarize dozens of plan document pages with one click.
- Get AdvisorAI 2.0 and 401kAI 2.0 to write custom emails for a plan or an individual.
- Create effective calling pitches for a plan or an individual.
- Knows about the advisor's services and qualifications and incorporates that information into emails and pitches.
The new tools give advisors AI capabilities that they can control, helping them to become a master of AI in the qualified plan space and with individual clients.
AdvisorAI and 401kAI 2.0 completely change how advisors will work with client statements and documents. By employing a multi-step process involving computer vision and multiple language models, it enables advisors to deliver actionable reports to any prospect within minutes of seeing a statement. Advanced computer vision technology allows advisor to even photograph a statement or for a lead to photograph and upload. "This is much more powerful than the old school manual entry of statements or even than data aggregation, which involves passwords and access to sensitive accounts," commented Satchkov. "401kAI and AdvisorAI 2.0 do not require anything other than the ability to photograph a document, everything else is done by the model."
A key 10X functionality of the tools is the ability to load any portfolio or plan menu from the PDF file. "Working with lead and client statements is notoriously difficult," stated Satchkov. "It takes time to input the data; yet more time to research and deliver a convincing pitch. AdvisorAI 2.0 and 401kAI 2.0 deliver the whole workflow in three minutes. The work is done by a private Large Language Model specifically trained to know finance, investments and economics. Advisors simply take a photo of the statement or load a file. The 2.0 versions of our revolutionary AI solutions run a full research report on every investment and/or qualified plan and delivers up-to-the-minute analysis and relevant charts in a stunning report."
MONEY BACK GUARANTEE
Satchkov emphasizes the need for advisors to try these tools to understand their benefits accurately. That's why RiXtrema offers a 100% money back guarantee for 401kAI 2.0 and AdvisorAI 2.0. If unhappy with the product or unable to use it, RiXtrema will return the purchaser's money within 30 days of purchase.
"I think that many people are confused by the hype around AI, by the type of hope and by the fear that clouds things," explained Satchkov. "That's why we give 30-day money back guarantees to advisors when they purchase one of our AI tools. They can just return it and we'll provide a refund. The reason is that we want people to try the products so they will understand exactly how these tools are helpful. If they're not ready to truly embrace the tools, they can come back later. But they really need to try it in order to understand what our AI tools can do for them."
"When you hear talk about Large Language Models or ChatGPT replacing financial advisors, do not be worried about that," cautioned Satchkov. "Be worried about other advisors using those tools to take away your share of market."
SEE THE NEW TOOLS IN ACTION: WEBINAR SEPTEMBER 28, 2023
RiXtrema is hosting a webinar on September 28 where Satchkov will demonstrate the capabilities of AdvisorAI 2.0 and 401kAI 2.0. Below are details to sign up for the event.
Title: 10X Advisor Free Webinar: How To Do 3 Hours of Research in 3 Minutes
Date: September 28, 2023
Time: 12:00 pm ET
Register: https://RiXtrema.net/AdvisorAI_live/
SCHEDULE AN INTERVIEW WITH THE AI EXPERT: DANIEL SATCHKOV
Journalists interested in discussing AI in the finance world, are invited to schedule an interview with Satchkov. He has been building machine learning algorithms for over eight years, and has been doing data science for more than 20 years. He has a lot to say on the subject of AI.
In a recent video interview with industry influential Marie Swift, CEO of Impact Communications, Satchkov explained why these new AI tools are generating so much interest with fiduciary advisors nationwide. To view the video replay, click here.
ABOUT DANIEL SATCHKOV
An expert specializing in financial modeling and machine learning for financial advisors and wealth managers, Daniel Satchkov is the President of RiXtrema Inc. He is a member of the International Federation of Clinical Chemistry and Laboratory's (IFCC) working group on Artificial Intelligence and Genomic Diagnostics (WG-AIGD). Prior to RiXtrema, he was Associate Director of Risk Research at FactSet (2000-2010), where he researched and developed new and innovative software products dealing with cutting-edge risk measurement and reporting. Satchkov holds Bachelor of Science and MBA degrees from the University of the Pacific, and has spoken at numerous financial conferences. He is a Chartered Financial Analyst®, has published widely in leading industry magazines (e.g., Journal of Asset Management, Journal of Risk Model Validation, Investment and Pensions Europe), and received the prestigious 2015 Peter L. Bernstein Award for his joint paper "Robust Risk Estimation and Hedging: A Reverse Stress Testing Approach" published by the Journal of Derivatives.
ABOUT RIXTREMA, INC.
RiXtrema, Inc. is a pioneer in developing innovative tools for financial advisors using machine learning (ML), artificial intelligence (AI), and data science. Based in New York, NY, RiXtrema currently serves over 7,000 retirement plan advisors and financial advisors. The company's mission is to help advisors grow their businesses and comply with fiduciary regulations. RiXtrema was founded in 2010 as a quant risk management system and started serving advisors in 2015. Since then, the company has combined the best machine learning for data gathering and financial math to create actionable reports for fiduciaries. RiXtrema's products use fiduciary analytics, science-based mathematical risk assessment models, intuitive interfaces, fine-tuned searches for plans and sponsors, case studies for each RiXtrema product, science-based mathematical risk assessment models, web-based software that does not need to be installed on computers, and multi-platform support irrespective of the operating system and computer's performance. All RiXtrema products come with a money back guarantee. For more information visit https://RiXtrema.com/.
CONTACT:
Grace Vogelzang or Corrine Smith
Impact Communications, Inc.
913-649-5009
[email protected]
[email protected]
SOURCE RiXtrema
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