Savvy Wealth has rolled out a new digital tool designed to let investment advisors onboard clients in as little as 90 seconds. In plain terms, this is a system that handles the paperwork and asset movement for financial professionals, stripping away the manual delays of traditional banking relationships. The platform targets the independent advisory market, aiming to make client setup faster and more transparent for both advisors and their clients.
What the Platform Actually Does
The core function of the Savvy Custodial Platform is to digitize the initial steps of opening an account. According to the firm, the system allows advisors to move assets with just a few clicks. This addresses a common friction point in the industry where legacy custodial relationships often involve significant paperwork and waiting periods.
Ritik Malhotra, founder and chief executive officer of Savvy Wealth, stated that the goal is to eliminate those delays by providing a fully digital experience. The infrastructure was developed in partnership with advisors who identified these pain points in their daily workflows. The system integrates with other essential business tools, including customer relationship management, billing, trading, and reporting software, all within one connected environment.
Who Is Behind the Technology
It is important to clarify what the platform is not. Savvy Wealth specifies that the Savvy Custodial Platform is not a separate legal entity nor an actual custodian. Instead, it is a set of integrated technologies and services. The actual custody of client accounts is handled by Fidelity’s National Financial Services LLC, which acts as the clearing broker-dealer.
Savvy Wealth Management LLC, a registered broker-dealer, provides the technology and serves as the introducing broker-dealer. This structure is similar to other models in the industry, such as Shareholder Services Group, which used Pershing for clearing and custody before its acquisition by Altruist in 2023. Advisors who already work with Savvy’s RIA have access to this integration, but the new launch extends the product to unaffiliated independent RIAs as well.
The Broader Market Context
Savvy Wealth is an AI-native firm managing $9 billion in assets under management, with more than 150 advisors. The launch of this platform follows a recent Series C funding round of $100 million, which valued the company at $600 million. This move places Savvy in a competitive landscape where major players are also updating their digital offerings. State Street Wealth Services announced a new custody platform with Apex Fintech Solutions just a week prior, and Vanguard announced its acquisition of Altruist less than a month ago. These developments suggest a growing emphasis on digital efficiency in the wealth management sector.
The platform includes white-labeled control, allowing advisors to brand the client experience to match their own firm’s identity. Advisors interested in the service can visit Savvy’s website for more details. The firm positions this launch as a way to modernize the advisory process, focusing on speed and integration rather than replacing the underlying custodial infrastructure.