SEC Approves PortfolioPilot: AI-Driven Financial Advisor With $6B In Assets

PortfolioPilot, an AI financial advisory platform developed by Global Predictions, on Wednesday announced that it obtained registration from the U.S. Security & Exchange Commission (SEC), saying it is the first regulated AI-powered investment advisor.

What Is It? Differentiating itself from traditional human financial advisors, PortfolioPilot employs AI and Global Predictions’ proprietary Economic Insight Engine.

The AI, alongside the Economic Insights Engine assesses users’ net worth, which then delivers personalized investment advice and suggested areas for improvement. Three features being introduced are:

Portfolio Overhaul: An automated system that adjusts portfolios based on risk tolerance, investment goals, and macroeconomic factors.

Fee Optimization: A feature offering transparency on annual fees and suggesting cost-saving recommendations.

AI Equity Search: A tool assisting users in pinpointing potential investment opportunities in stocks or ETFs.

"Securing SEC registration for our AI financial advisor marks a huge milestone for the company and instills a new level of user confidence in our platform," Global Predictions CEO Alexander Harmsen said in a statement.

Harmsen further commented on the platform’s continuous ability to offer quality investment advice, saying that it actively adapts to market dynamics, and is available 24/7.

More On The Economic Insight Engine: The engine is a multifaceted portfolio-specific advice delivery system which includes the following structure:

• Investor Profile offering scores and recommendations.
• Simulations that reflect investor behaviors, objectives, and financial situations.
• Portfolio Management Tools for comprehensive portfolio analysis.
• Forecasting System providing short to mid-term forecasts for numerous indexes.
• World Monitoring Engine detecting market anomalies.
• Economic Map which represents the relationships in the global economy.
• A Data Infrastructure that processes more than 100 million time series spanning multiple sectors.

The company, which has more than 13,000 users and $6 billion assets on its platform, said it is introducing a monthly subscription tier to access the AI advisor starting at $29 per month.

Read next: Inside ChatGPT-Selected Stock Portfolio: Adobe Overtakes Tesla For Top Spot

Photo: Shutterstock