Nevis raises $70M Series B to build AI agents for financial advisors

Americans want more financial advice. The supply of people qualified to give it keeps shrinking. Nevis, a New York-based startup, thinks AI can close part of that gap. On Monday it announced a $70 million Series B to keep building software that handles the grunt work financial advisors would rather skip. According to Fortune, which cited a person familiar with the matter who asked not to be named, the round values the company at $500 million. That is a steep climb for a company that started in 2024. What Nevis actually does Nevis builds AI agents that take over the administrative side of wealth management. The tasks include meeting preparation, note-taking, and client onboarding, the kind of work that eats an advisor’s afternoon without growing anyone’s portfolio. The company says advisors can hand off up to 80% of their administrative load to the software. The point is to free up hours for actual client relationships, which is the part of the job clients pay for. A key selling point is that the platform plugs into the customer relationship management systems firms already use. It also connects to custodians like Schwab and Fidelity, and it does all this without forcing a data migr...