The Software Agents - Episode 3: Automated Wealth Management Advice

Written by: Christina Noren

2 min read

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The Software Agents is a new podcast series sponsored by CloudBees. Each week we bring you leaders from many fields applying software to reimagine them for the new world under construction. Listen to the episode here.

Our guest this week on The Software Agents is Jon Vlachogiannis, the founder of AgentRisk, an AI-driven wealth management platform. When shelter-in-place orders were issued in March, AgentRisk suddenly saw a wave of new signups, as human wealth advisors at the big firms became incapacitated by their inability to work from home. What many investors didn’t know: Their human wealth management advisors were already beginning to use AgentRisk behind the scenes. These pros had seen that software outperforms humans at balancing a portfolio.

Jon also recounts his own personal software-enabled success story: As a boy in Greece, coding was his idea of a good time. He went on to build the most widely loved mobile app testing platform, Bugsense, which he sold to Splunk. He parlayed that sale to what he saw as the golden land: Silicon Valley.

I will say I didn’t challenge Jon during the interview when he waxes poetic about Silicon Valley being “the best.” But The Software Agents is about getting each of our remarkable guests’ individual points of view, and that is Jon’s. I’ve broken myself from that Silicon Valley-centric mindset.

Jon helps us understand why a successful wealth management strategy, from the smallest to largest portfolios, is about managing risk - and how robots are better than humans at doing that. 

There are two intertwining stories here about software. First, software is better at doing the core of the job – the buying and selling choices – even when advisors are happily in their chairs at the office. Second, when the humans have to work in rapidly changing conditions, software is a lot better at staying in touch.

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