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This New Digital Wealth Management Platform Wants to be Your Copilot

By Alex Padalka November 1, 2018

Fintech firm SigFig has released a new digital wealth management platform to help financial advisors with administrative tasks, according to a press release from the company.

The new platform, dubbed CoPilot, automates front-, mid- and back-office tasks, offering paperless account opening and a digitized onboarding process, SigFig says.

CoPilot also automates compliance tasks such as annual reviews and revisions of client risk profiles and suitability, according to the press release.

Citizens Bank Wealth Management, with which SigFig has been working since 2016, is the first financial institution on the new platform, SigFig says.

"This is an incredibly powerful tool for our financial advisors, seamlessly digitizing many of our processes so that they can focus on what matters most – our customers, not the paperwork," John Bahnken, president of Citizens Bank Wealth Management, says in the press release.

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In 2017, Citizens Bank launched a robo in partnership with SigFig.

SigFig offers both a robo-advisor direct to investors as well as one for use by large financial institutions.

SigFig also developed a robo-advisor for UBS, which rolled out this spring.