How AI can help you monitor what your wealth manager isn't showing you

• Wealth managers tend to send statements designed for compliance, not for clarity. Connect your accounts to Truthifi Connect and ask Claude or ChatGPT to translate your custodian statement into plain English: what's actually held, what each line costs, what the year-over-year change looks like.

• Ask your agent to compare your manager's net-of-fee return against the appropriate benchmark for the past 1, 3, and 5 years. If you're paying for outperformance and the chart says you're getting underperformance, that's a conversation worth scheduling.

• For the firms that don't aggregate well, work around them. Have your agent flag any account whose data isn't pulling cleanly through your aggregator and assemble the workaround: manual upload, statement parsing, or direct API.

Try it with Truthifi: Start for free at app.truthifi.com — connect your accounts and ask the Truthifi agent for a clearer view of every wealth manager you work with.

Prefer a dedicated AI connection? Truthifi Connect lets Claude, ChatGPT, and Perplexity read your live portfolio data directly.

Truthifi® Features and Their Benefits

1. Advisor Monitoring: Continuously tracks your advisor’s activities, ensuring they act in your best interest and adhere to your financial objectives.

2. Portfolio Score: Provides a comprehensive assessment of your portfolio’s health, evaluating factors such as diversification, risk exposure, and alignment with your financial goals.

3. Fee Analysis: Breaks down all associated costs, offering transparency and helping you understand the true expenses of your investments.

4. 65+ Flag Checks: Conducts extensive checks to identify potential issues or conflicts of interest in your investment strategy, ensuring your advisor’s actions align with your best interests.

5. Normalized Pure Data: Presents data in a standardized format, facilitating easy comparison across different advisors and portfolios, aiding in informed decision-making.

6. Early Feature Access: Grants access to new tools and features before they are widely released, keeping you ahead with the latest advancements in portfolio management.

By leveraging these features, Truthifi® empowers investors to supervise their advisors effectively, ensuring transparency, optimizing investment strategies, and fostering trust in their advisory relationships. (investopedia.com)

In conclusion, as you navigate the offerings of top-tier wealth management firms and brokerages, Truthifi® stands as an indispensable tool, providing clarity and confidence in your financial journey.

Related reading: Advisor reviews aren’t enough: How to really know if your financial plan is working · AI Portfolio Analysis - Expense Ratios, Asset Allocation & Retirement · Connect ChatGPT to Fidelity, Vanguard & Schwab

About the author

Mike Young is Head of Product at Truthifi, where he leads the platform’s financial intelligence and monitoring tools. Before Truthifi, Mike built digital investment products and experiences at Merrill Lynch, TIAA, JP Morgan, and Vanguard over more than a decade, working alongside advisors and their clients across wealth management, retirement, and institutional platforms. He writes about the structures that shape financial advice — and how investors can understand them clearly.

Reviewed by Scott Blandford, Founder & CEO of Truthifi. Scott has 25+ years in financial services across Fidelity Investments, Merrill Lynch, Bank of America, and TIAA.