Powder
Sales platform for wealth advisors
Powder is an AI tool that helps wealth advisors rapidly create sales proposals that are personalized for each prospective client. Using LLMs, Powder is able to automate a series of manual tasks such as understanding documents and conversations to create mind-blowing analysis that builds immediate trust. Powder has 3 main features to automate sales workflows - 1. Brokerage, tax and estate document parser thats fast and accurate. 2. Meeting notetaker thats able to capture personalized insights. 3. Portfolio analysis tool that optimizes portfolio returns, risk and fees. Our app saves hours of time and creates a pinpoint proposal that lifts a firm's ability to win new business.
Active Founders
Kanishk Parashar
cofounder/CEO Powder - AI growth platform for wealth advisors. Previously, I was cofounder/CEO of RCI Navigator. Navigator helps asset and wealth managers to pace into private assets such as VC, PE, Infra, etc. while taking risks into account. It was acquired by Addepar in Jan 2021. Navigator is used by 150+ firms including UBS and Morgan Stanley. Before that I was cofounder/CEO of Coin (YCW13). Coin was a all-in-one digital credit card that combined all your cards into one.
Soo Yung Cho
Sooyung is the co-founder and CTO of Powder, AI sales copilot for wealth advisors. Prior to founding Powder, Sooyung was a founding team member of RCI which was acquired by Addepar in 2021. Sooyung graduated from Johns Hopkins with a BS degree in Computer Science. Out of work, he enjoys playing lacrosse.
David Goerz
Co-founder & Chief Investment Officer for Powder Finance, which is building an AI Sales co-Pilot for wealth advisors to automate gathering financial holdings, analyze portfolios, assess risk tolerance, and summarize data to engage faster and efficiently. He managed portfolio strategies for institutional asset owners for 33 yrs on mandates up to $30B in assets with pioneering innovations in quantitative equity and return forecasting, optimization and risk management. Chair, Investment Committees
Dominic Tully
I am currently the co-founder and Head of Sales and Operations at Powder. Prior to Powder, I work at the fintech firm, Addepar, as both a Senior Account Executive and Senior Account Manager. I started my career at Goldman Sachs, where I worked in the Private Wealth Management division in San Francisco.
Company Launches
Hey everyone! We’re Kanishk, Dominic, SooYung, Jeff and David from Powder.
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TLDR: Powder is building a generative AI co-analyst to help wealth advisors win new clients by automating the sales process.
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Problem:
Wealth Advisors have an arduous sales process that has little transparency and leaves prospective clients unclear of the value they provide.
Advisors relying on their current manual operations are facing a tremendous challenge to scale.
Powder is for wealth advisors who are:
- Frustrated with burning costly analyst time making sense of prospects’ portfolio data
- Dealing with very long sales timelines to win over prospects
- Struggling to create beautiful presentations that highlight their value to prospects
- Looking to leverage the latest technology to future-proof their firm
Solution:
How can advisors stand out from the noise and close more prospects?
By leveraging Powder’s generative AI document and conversation extractor to rapidly leverage the prospect’s portfolio.
By fine-tuning analytics that automatically demonstrates better investment returns, reduced portfolio risk, reduced tax consequences, and lowered investment fees.
Creating beautiful presentations that succinctly outline the benefits to the prospective client.
Who are we:
Kanishk and SooYung previously founded RCI Navigator (acquired by Addepar). Navigator is being used by 150+ firms including the biggest wealth advisors on the planet such as UBS and Morgan Stanley. We repeatedly witnessed how sales were such a massive pain point. We carried forward our expertise on how to build for and sell to wealth advisors.
Dominic worked at Addepar as both a Senior Account Executive and Senior Account Manager. He started his career at Goldman Sachs, where he worked in the Private Wealth Management division.
David managed portfolio strategies for institutional asset owners for 33 years on mandates up to $30B in assets.
Jeff was the founding engineer at Arcade.xyz and an early BitGo employee. He has 20 years of full-stack experience across multiple domains.
Ask
Interested advisors can sign up directly on our website - https://powderfi.com or set up a meeting with us - https://calendly.com/powderfi/intro?month=2024-01