Cassia Research launches Copilot, a powerful quant-based risk assessment and onboarding platform for Registered Investment Advisors. Unlike other advisor-friendly robo solutions, Copilot helps advisors conquer market volatility by giving them the same advanced algorithms used by the smartest and largest hedge funds. Advisors not only can align their client’s tolerance with the optimal portfolio but can also automatically have hundreds of accounts monitored for risk.
Copilot solves real pain points for advisors. First, they need an easy way to build a portfolio and assign multiple accounts or clients to the model portfolio that they create. Right now there is no easy, streamlined way of doing this and there is nothing to guide them in terms of lowering risks on multiple assets and asset classes.
Also, because advisors are also entrepreneurs, they have to take care of all aspects of business. They spend a lot of time on compliance, logistics, administrative work, and portfolio management. It’s too much work.
Henry Bee, CEO and Co-founder of Cassia Research, added “Through a powerful vendor integration with Quovo, instead of trying to make sense of scattered statements from 10 brokerages with different formats and definitions of return, Copilot unifies the information from 19,000 financial institutions including custodial accounts, held-away client accounts, self-directed brokerage, 529 plans, annuities, and insurance.” Then, advisors can analyze the account’s position, and the account’s risk real time, using the Cassia Research database.
Henry Bee said, “Any advisor can log in and start building their ideal portfolio. In the past, they had to hand that money to a hedge fund and be charged 2 and 20 for it. Now we are just democratizing a lot of that technology to let the advisors directly use it.” Copilot charges a straight up monthly fee of between $500 to $2,000 a month depending on the size of the advisor.
The team includes Executive Director Jean-Marc Bougie, who is CEO of Abacus and the Hillcore Group, a large private equity firm. He is a former head of RBC- Royal Bank of Canada in charge of the capital markets division. CTO, Co-founder Jesse Chen is a dev veteran with 13 years of programming experience previously at Electronic Arts. He also helped develop applications for the US Department of Defense and the Canadian Department of National Defense. CEO, Co-founder Henry Bee Henry has over 10 years of investment experience, including as the lead developer at CSS Analytics. In that role, he built futures trading strategies for institutional clients including a $3 billion Commodity Trading Advisor and VT International, an Australian hedge fund. He is the co-author of the paper “Minimum Correlation Algorithm.”