Nevis bags $35m to build AI for wealth management
Nevis, an AI platform for wealth management, has come out of stealth with a $35m Series A to overhaul advisor operations. The round was led by Sequoia Capital with participation from ICONIQ and Ribbit Capital, bringing total funding to $40m.
The company builds systems that automate end-to-end workflows for Registered Investment Advisors (RIAs). Nevis already supports advisors managing more than $50bn in client assets across fast-growing US firms and is scaling onboarding to meet demand.
Why this matters for management
Capacity is the constraint. More than 50 million Americans rely on financial advisors, yet advisory teams spend up to 80% of their time on back-office tasks. That drags on growth, compresses margins, and slows client service.
Nevis targets those bottlenecks by taking on operational work-prepping for client meetings, opening accounts, and closing the "last mile" of tasks that usually pile up in email and spreadsheets.
What Nevis says it can do
Mark Swan, CEO: "We're building a future where every financial advisor is supported by an AI platform that can actually complete operational tasks end-to-end. From helping advisors prepare for client meetings to opening custodian accounts, Nevis streamlines the workflows that consume the majority of an advisor's time. With this level of automation, advisors can focus on what matters most: delivering best-in-class client service and growing their business."
Early customer signals
Jim Rivers, president, United Capital: "Nevis will completely transform our technology stack, updating it for the future with critical AI-enabled features that will have a meaningful impact on how we do our jobs every day and service clients."
Dave Breslin, EVP, GC Wealth: "We've explored every so-called 'AI wealth tech,' but Nevis stood out for being the real thing, a purpose-built, modern platform reimagining the advisor experience from the ground up."
What to watch before you roll out
- Integration depth: Custodians, CRM, planning tools, portfolio accounting, and e-sign. Look for bi-directional sync and audit trails.
- Data security and compliance: PII handling, permissions, logging, and supervisory review. Confirm SOC2 and clear model/data boundaries.
- Quality and accuracy: Error rates on account opening, meeting prep checklists, and documentation. Define thresholds and escalation paths.
- Change management: Role clarity for advisors and ops. Update procedures so AI-driven tasks are reviewable and repeatable.
- ROI model: Target cycle-time cuts (e.g., account opening), advisor capacity gains, and NIGO reduction. Tie savings to headcount and growth goals.
- Vendor resilience: Funding, roadmap, support SLAs, and exit options for data and workflows.
90-day action plan for RIA leaders
- Audit where advisor time goes. Quantify hours on prep, follow-ups, and account workflows.
- Select two pilot workflows with measurable pain: client meeting prep and new account opening.
- Define KPIs: time-to-open, meeting-prep minutes per household, NIGO rate, cycle time, and client satisfaction after meetings.
- Map data sources and permissions. Standardize templates, document checklists, and approval steps.
- Run a controlled pilot with weekly reviews. Compare baseline vs. post-automation performance.
- Train teams on prompts, review protocols, and exception handling. Commit playbooks to policy.
If you're building your AI roadmap for operations and client service, explore practical tooling options in our AI tools for finance roundup.
Funding and team
Series A: $35m led by Sequoia Capital with ICONIQ and Ribbit Capital, bringing total funding to $40m. Previous investment stood at $5m.
Nevis was founded by former Revolut executives Mark Swan, Philipp Burda, and Ivan Chalov. The new capital will support product development and platform scale to meet growing demand across wealth management firms.
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