SigFig Rebrands as Tandems; Rolls Out AI-Embedded Tools

Core Insights - SigFig has rebranded to Tandems and is launching an AI-native wealth operating system aimed at financial advisors within institutional clients, with potential future expansion to independent RIAs [2][3] - The company emphasizes its identity as a technology firm rather than a robo-advisor, managing $60 billion in assets across 2 million accounts for 6,000 advisors at major firms [3][4] - The new technology ecosystem is described as open architecture with three layers, featuring embedded verticalized AI to alleviate administrative burdens for advisors [5] Company Developments - The rebranding to Tandems marks a strategic shift towards developing advanced digital wealth management tools [2] - The first component of the new ecosystem, TandemsMeet, is designed to assist advisors with scheduling, recording client inputs during meetings, and syncing with CRM systems [6] - The company has raised nearly $120 million over six funding rounds, indicating strong investor confidence in its technology solutions [4] Market Position - SigFig's technology is currently utilized by notable financial institutions such as Wells Fargo, Citizens Financial, Scotia Bank, and New York Life [3] - The firm has faced challenges, including the loss of UBS as a client, which discontinued its automated investing service [5] - The focus on modern technology in wealth management reflects a broader industry trend towards integrating AI and digital solutions to enhance advisor-client relationships [4][5]