Anthropic plans ‘additional waves’ of Claude for financial advisers

Anthropic has confirmed that it plans to release more versions of its Claude for financial advisers plugin for wealth managers.

The major AI company held a webinar this week to answer questions about the tool. It connects Claude to the software that wealth management firms already use. This lets the AI help with tasks such as bringing new clients on board, analysing investment portfolios, and preparing for meetings.

Drew Parker, Anthropic’s lead for financial services, told people attending the webinar: ‘We very much intend to release additional waves, or launches if you will, of the Claude for financial advisers plugin. We want to include as many of the tools that you’re using.’

Anthropic launched the tool in September, working with US investment company BlackRock and technology company Addepar, among others. At the time, Anthropic confirmed that wealth professionals could use a feature called ‘connectors’ to link the software and data services they already use each day to the specialised Claude model.

Speaking about this again during the webinar, Parker said: ‘To the extent you want a tool included and to have a connector in Claude, let them know and ask them to submit their MCP [Model Context Protocol] and work with us to get it reflected in the Anthropic Directory and embedded into the Claude for financial advisers tool.’

Wealth managers appear to be especially concerned about how safely the tool handles data they enter. During the webinar's question-and-answer session, people asked about protecting clients' PII, or personally identifiable information.

When Anthropic announced the Claude model in September, David Scott, founder and managing partner of Scott Capital Partners, told Spear’s that he believed AI could only change wealth management to a certain extent for UHNWs, or ultra-high-net-worth individuals.

Clients ‘still want someone to navigate their way through’, he said. ‘That’s why I believe there’s still going to be a strong market for that independent sort of firm that can do that without having to sell a product,’ he said.

During this week's webinar, Parker highlighted the idea of ‘data isolation’. He told attendees: ‘When you enter sensitive client information, or any other information for that matter, into your Claude license, that stays specific to the individual user.’

‘Nobody from Anthropic can see that data. We can’t package it up and sell it to a third party. We can’t train our future models on any of it, and we are contractually precluded from doing so,’ he said.

Parker, who appeared with his Anthropic colleague Dor Fledel, also stressed that Claude had been designed to keep data private from other advisers working at the same firm.

‘Let’s say Dor and I decided to start our own RIA [registered investment adviser], and we operate individually. We have our own books of business,’ he said. ‘What Dor inputs into his Claude, even though we’re on the same license, I cannot see in my Claude. I, myself and my Claude, can only see what I have access to within the connectors that I’ve set up.’

Peter Nolan, Anthropic’s head of asset and wealth management, posted this week that the Claude for financial advisers plugin had been installed more than 60,000 times since it launched last month.