The RIA provides advisors with Anthropic's Claude tools for portfolio analysis, meeting prep and prospecting while maintaining compliance guardrails and data security.
Tris Millard, a partner with Gulf Point Advisors, is using Anthropic’s Claude in a variety of ways.
“First and foremost, it is helping with research reports,” he said of how he and his investment team use the technology, which has been available to them for about a month and a half.
“When we get a big macro update report from a Goldman or JPMorgan—in the past we would usually skim those or put them on ice until we were talking about changes [with clients]—now we are able to feed those into Claude,” said Millard, noting that in his opinion, the AI performs the sort of analysis his team does better than Google Gemini or OpenAI’s ChatGPT, both of which he has also used.
In what is likely to be a growing trend among big advisory firms, including RIAs, aggregators and other wealth management firms, the large RIA NewEdge Advisors, of which Gulf Point Advisors is a partner team, is both using Anthropic’s Claude at the enterprise level, and providing tools built with it to the advisors on its member teams.
According to Gulf Point’s Millard, Anthropic’s Claude has a memory feature that allows the AI to retain the models his team has built and how they are invested and then quickly zeros in on suggestions from a given report that most relate to those models or portfolios.
“It is a way to filter all the information that we get from various asset managers and immediately turn it into something that is useful to us,” said Millard.
NewEdge Advisors, along with NewEdge Wealth and NewEdge Securities, form the NewEdge Capital Group, which, as of March 31, 2026, services more than $100 billion in client assets.
The group has more than 450 advisors and affiliated representatives across the three units and a team of more than 325 back office, technology and marketing support personnel.
And the overall group’s structure was designed to share costs, infrastructure and resources across its units.
Alex Goss, the founder and longtime CEO of NewEdge Advisors, said that his leadership team had asked itself months ago: ‘How do we get the real power and potential efficiency of AI out to the advisors?’
“What we’ve done is different, and we think we are the first to market with it,” he said of providing the firm’s advisors in the field a system of tools directly from one of the major AI LLM providers in the form of tools built with Anthropic’s Claude.
Advisors can upload client data and perform portfolio analysis, prospecting analysis and meeting prep, he said, referring to the tools at present, which were built in-house by NewEdge’s development teams.
“But the beautiful thing about these tools is the things happening at the user level, as a lot of those things were best practices or tools someone had created, but our advisors are the innovators who have their own DBA level of Claude access,” said Goss.
He added a lot of time was spent ensuring data security, guardrails, compliance and best practices were in place prior to providing the group’s advisors the ability to use the technology in a fairly open-ended way.
That is not to say that advisors have access to code their own applications or create agents.
“I will say the thing we are preventing our advisors from doing is agentic, preventing them from building agents that can perform autonomously; there is always a human in the middle,” said Goss.
Costs are split between NewEdge’s corporate side, which uses enterprise licenses purchased in tokens, and the end advisors, who purchase their own licenses that best fit their needs.
For his part, Millard at Gulf Point said his team is using monthly pricing with Anthropic for now.
“For now, seven of us share a monthly package,” he said, noting that within this several members use the lowest-cost tier, which is about $25 per month per user, while several others, including himself, who use Claude more often and for more heavy computing purposes (like the report analysis), use a tier that costs around $125 per month.
“Now that I’ve lived with it, it would be very difficult to live without it, given the quality of the output, which really far exceeds my expectations,” he said.
“The worst experience I’ve had with it so far is that it was wrong on occasion, but you tell it that, and it will correct it,” said Millard.
“You can’t just drop everything in there and think it is 100% accurate, but then you would have to do that with a junior analyst doing the same work, too,” he said of monitoring and checking the work of the AI for consistency and errors.
To be sure, while NewEdge may be on the bleeding edge in providing Anthropic’s Claude directly to advisors, other big financial services firms in the wealth space have signed on to it or other of the major LLM providers.
For example, LPL announced in February that it had expanded an ongoing relationship with Anthropic to work on AI-related integrations, and in April, alternative investment platform iCapital announced it was working with Anthropic for the next phase of its artificial intelligence strategy.