Magnifi from TIFIN now provides answers to the financial questions of more than 45,000 subscribed users.
BOULDER, Colo. and NEW YORK, November 28, 2023 /PRNewswire/ — Increasefinancial copilot for individual investors with AI TIFIN, announced a new milestone in its ability to provide education, insight and answers about connected self-directed investment accounts. More than 45,000 Magnifa subscribers have now connected 500 million dollars in aggregated assets, marking a turning point for the impact of artificial intelligence on empowering everyday investors.
Magnifi is the first investment-focused AI that can review all your accounts to show you where you’re paying too much, where you have risks and where you can improve. The technology, built in-house, can use information from linked accounts to answer specific questions such as: “Do I have any hidden risk?”, “Am I outperforming the S&P 500?”, “How can I see how much Nvidia I own ?”, and Above.
This gives investors the intelligence and confidence they need to take their investment management to the next level. Magnifi’s intelligence layer, delivered through its generative AI capability, is also aligned with its business model. Although users can trade directly on Magnifia, the company does not generate revenue from commissions or order flows. Instead, users pay a monthly or annual subscription to use the service.
Rapid growth in functionality, originally announced in July 2023highlights the demand from individuals to get answers and ideas about all their investments across multiple brokerages and investment platforms.
“While it’s exciting to see the growth of connected assets on Magnify, it’s still very early days,” says TIFIN Founder and CEO Dr. Vinay Nair (who is also the CEO of Magnifi). “More than half of all independent users have more than one investment account. That means over 25M individuals don’t get answers to questions they might have or insight into actions they might take for better financial results. We’re happy to help a small portion of this audience and excited about the potential impact.”
To experience how Magnifi’s AI assistant can answer an individual’s investment questions, visit magnifi.com.
TIFIN is an AI and innovation platform for better wealth outcomes. Founded by Dr. Vinay Nair, TIFIN creates and manages new companies that apply data science, artificial intelligence and technology to solve problems in wealth and asset management. TIFIN’s companies included 55ip (sold to JP Morgan) and currently include Increase, TIFIN Wealth, TIFIN AMP, TIFIN Give, Parallel, Wise, Coil, TIFIN@Posao, and TIFIN India. TIFIN was supported by JP Morgan, Morningstar, Hamilton Lane, Franklin TempletonMotive Partners and Broadridge among others.
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