TIFIN, a technology company based in Boulder, Colo., that focuses on the financial industry, has launched a spinoff firm, TIFIN AG, to provide an artificial intelligence platform for wealth management firms, the company announced today.

The artificial intelligence platform provided by TIFIN AG is designed to help wealth management firms obtain clients and grow their assets, TIFIN AG said. TIFIN creates and operates new companies that apply data science, AI and technology to address problems that may exist in wealth and asset management firms, TIFIN AG said.

TIFIN AG also announced the appointment of financial industry veterans Rajini Kodialam and Brian Carlin as members of the board of directors. Kodialam is founder and co-CEO at E-3 tech and was co-founder of Focus Financial Partners, a New York City-based provider of financing for wealth management firms. Carlin was the former CEO of J.P. Morgan Private Capital and CEO of J.P. Morgan Wealth Management Solutions. The board also will includes Vinay Nair, TIFIN’s founder and CEO.

TIFIN AG uses-art algorithms and artificial intelligence to provide platforms designed to support wealth management firms acquire and retain clients and expand their businesses. It also will help firms consolidate client information and customize marketing efforts.

"AI is creating a seismic shift across the wealth management value chain. (It will) help advisors amplify net new assets,” Kodialam said in a statement.

"The adoption of large language models (which are AI programs that generate natural sounding speech) and AI is set to structurally transform the wealth management industry in 2024 and beyond," Carlin added in a statement. TIFIN AG will utilize these tools to help wealth management firms grow, TIFIN AG said.