Eton Solutions, a wealth management platform provider, has launched EtonAI, an artificial intelligence platform designed to automate back-office processes for family offices, registered investment advisors (RIAs), and private equity firms.
The new platform aims to address a gap where wealth managers, while open to using AI for front-office tasks like investment research, have been slower to adopt it for core operations due to concerns over data privacy, security, and compliance. Eton Solutions states that EtonAI integrates directly into wealth managers’ workflows to automate manual processes, including bill payments, month-end reconciliations, and tax processing.
Research cited by Eton Solutions indicates that 91 per cent of wealth managers are currently using or planning to use AI for investment strategy or asset class research. However, many back-office functions remain reliant on legacy systems due to concerns about data security in cloud environments.
Eton Solutions highlighted its recent ISO 42001 certification as evidence of its platform meeting rigorous privacy, cybersecurity, transparency, and bias standards.
Platform features and operational automation
EtonAI functions as an add-on to Eton Solutions’ core platform, AtlasFive, which manages over $1.3trillion in assets across more than 960 firms. It is also available as a standalone solution for wealth managers using other systems.
The platform is designed to automate a wide range of tasks. According to Eton Solutions, EtonAI can process over 250 different document types related to bill pay, private equity, tax documents, and customer onboarding.
For month-end processes, it handles transaction uploads, bill payments, general ledger coding, market value reconciliations, and report narrative generation. It also assists front-office teams by generating investment theses, automating due diligence responses, and analysing cash flow projections.
Satyen Patel, executive chairman of Eton Solutions, commented: “Delivering a comprehensive AI solution to wealth managers is long overdue, despite the ample opportunity to reimagine and scale their day-to-day workflows. Because wealth managers and PEs in the family office space are dealing with highly confidential investment and personal data, they both fear making the transition to AI – and fear falling behind if they don’t.
“That’s why we took on the daunting task of becoming ISO 42001 certified. This not only validates our responsible AI governance but lets our client rest assured that we’ve built trust and transparency directly into our platform.”
Client perspectives on AI adoption and compliance
Clients using the platform emphasised the importance of the provider’s compliance standards in their decision to adopt AI tools.
“Eton’s unwavering commitment to excellence in compliance standards has empowered us to take a more proactive and innovative approach in implementing AI solutions, enhancing both the quality of our services and the experience of our employees,” said Meghan Grayson of Shade Tree Advisors.
“Because Eton diligently manages the critical task of safeguarding our information, we have the confidence and peace of mind to concentrate on refining our processes and tailoring optimisations to meet our unique needs.”
Saji Sachchithanantham, chief operating officer of Todd Family Office, added: “For organisations such as ours, operating with sensitive financial and personal data, knowing that our technology partner adheres to the highest ethical AI standards is paramount. Eton Solutions’ ISO 42001 certification provides us with added confidence that their AI-powered solutions are not only innovative but also built on a foundation of trust, transparency and robust governance.”
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