SigFig has rolled out a digital wealth management platform for financial advisors called CoPilot, the fintech company announced Tuesday.
Based in San Francisco, SigFig has expanded beyond its roots as an automated investing platform for individual investors by partnering with banks and broker-dealers to provide digital wealth management services to their advisors.
Advisors at Wells Fargo, UBS and Citizens Financial already tap into SigFig’s digital capabilities for their clients, and Citizens Bank Wealth Management has signed up as the first financial institution to use the new CoPilot digital wealth platform.
As described by SigFig, CoPilot automates front, mid and back office administrative tasks by digitizing the overall onboarding workflow with paperless account opening. It also automates compliance processes such as annual reviews and changes to client risk profile and suitability.
The overarching goal, the company says, is to enable advisors to focus on the client relationship side of their business.