Core Insights - The wealth management industry is experiencing a shift towards automation, but there is a strong belief that human advisors will remain essential [2][3] - Nevis, a startup co-founded by Mark Swan, aims to enhance the operational efficiency of wealth advisors using AI, having secured $40 million in funding [2][5] - The U.S. wealth management sector is projected to face a shortage of 100,000 advisors by 2034, driven by increasing demand and a higher retirement rate than recruitment [5] Company Overview - Nevis was founded by former Revolut executives Mark Swan, Ivan Chalov, and Philipp Burda, with a mission to address the operational challenges faced by wealth advisors [4] - The company has attracted significant investment from notable firms such as Sequoia Capital, Iconiq, and Ribbit Capital, with a recent Series A funding round of $35 million at a valuation of $200 million [2][5] Industry Challenges - The wealth management industry is facing a crisis due to a projected shortage of advisors, which could hinder service delivery as demand for financial advice grows [5] - The current productivity levels in the industry are insufficient to meet the increasing demand for wealth management services [5] Technological Solutions - Nevis is developing software that automates routine tasks for wealth advisors, such as generating meeting summaries and drafting personalized emails, allowing advisors to focus on client relationships [6] - The company plans to expand its software capabilities to include more operational functions, such as opening custody accounts, by early next year [6]