Magnifi from TIFIN now provides answers to financial questions of over 45,000 subscribed users
BOULDER, Colo. and NEW YORK, Nov 28, 2023 — Magnifi, the AI-powered financial co-pilot for individual investors from TIFIN, has announced a new milestone in their ability to provide education, insights, and answers on connected self-directed investment accounts. Over 45,000 subscribed users on Magnifi have now connected over $500M in aggregated assets, marking a tipping point for AI’s impact on empowering everyday investors.
Magnifi is the first investment-centric AI that can look across 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 leverage the information from the connected 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 beyond.
This provides investors with the intelligence and confidence they need to take their investment management to the next level. Magnifi’s intelligence layer, delivered through a generative AI capability, is also aligned with its business model. While users can trade directly on Magnifi, the firm does not generate revenues from commissions or order flows. Instead, users pay a monthly or annual subscription fee to use the service.
The rapid growth of the functionality, originally announced in July 2023, highlights the demand from individuals to get answers and ideas across all their investments across multiple brokerages and investing platforms.
“While it is exciting to see the growth of linked assets on Magnifi, it is still very early days,” says TIFIN Founder and CEO, Dr. Vinay Nair (who also serves as CEO of Magnifi). “Over half of all self-directed users have more than one investment account. That means over 25M individuals don’t get answers to questions they may have or insights on actions they could take to better financial outcomes. We are glad to help a small portion of this audience and excited for the potential impact.”
To experience how Magnifi’s AI assistant can answer an individual’s investing questions, visit magnifi.com.
About TIFIN
TIFIN is an AI and innovation platform for better wealth outcomes. Founded by Dr. Vinay Nair, TIFIN creates and operates new companies that apply data science, AI, and technology to address frictions in wealth and asset management. TIFIN’s companies have included 55ip (sold to JP Morgan) and currently include Magnifi, TIFIN Wealth, TIFIN AMP, TIFIN Give, Paralel, Sage, Helix, TIFIN@Work, and TIFIN India. TIFIN has been backed by JP Morgan, Morningstar, Hamilton Lane, Franklin Templeton, Motive Partners, and Broadridge among others.
For media inquiries, please contact:
AJ Boury
[email protected]
The information contained herein should in no way be construed or interpreted as a solicitation to sell or offer to sell advisory services. All content is for informational purposes only.
