Sequoia Bets on AI Startup to Ease Wealth Advisers’ Grunt Work

Many companies are trying to replace wealth advisers with artificial intelligence, but Mark Swan’s bet is that humans are here to stay.

It’s the busy work, from meeting minutes to account openings, that’s ripe to be automated, he argues. So the former Revolut executive built a startup, Nevis, that’s attracted $40 million in funding from the likes of Sequoia Capital to use AI to streamline a wealth adviser’s operational workload.