AI-powered investment platform becomes first non-human financial advisor regulated by SEC

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Artificial intelligence-powered investing tool PortfolioPilot is now approved by the Securities and Exchange Commission for regulation as a financial advisor.

in May, the portfolio management tool has launched a series of new features and now has more than 13,000 users and $6 billion in assets on the platform.

Through the AI financial advisor, users are able to receive a portfolio overhaul through a one-click process that reviews and adjusts the user's existing portfolio based in various factors such as risk tolerance level, investment goals, and macroeconomic conditions. It also offers an AI equity search, which helps customers discover investment opportunities through a search query and generate a list of stocks or ETFs that meet the selected criteria.

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