Artificial-intelligence company Anthropic is launching Claude for Financial Advisors, a suite of AI-powered tools that it hopes will drum up business in the wealth management sector. The company has landed a marquee partner: Charles Schwab.

Anthropic says Claude for Financial Advisors will boost advisors' efficiency by helping them with research, preparation for client meetings, documentation tasks, writing emails, and more. "We see it as the foundation for an AI-native wealth management practice," says Peter Nolan, head of asset and wealth management at Anthropic.

The new offering can connect with advisors' existing technology systems, such as their software for client relationship management, portfolio reporting, and financial planning.

"This is where Schwab comes in," says Jon Beatty, head of Schwab Advisor Services, which provides roughly 16,000 registered investment advisory firms with a trading platform and safeguards client assets on their behalf. Schwab can connect Claude to its data, including balances, positions, transactions, and money-movement status. "We have a very rich data set that Claude can access on our platform."

That access results in better data and more context about the client, allowing Claude to operate more efficiently Nolan says. Anthropic says Claude includes "connectors" that allow it to access the asset managers, wealth technology providers, and other companies that advisors rely on, including Addepar, a provider of portfolio analytics software, and Vanguard, an asset manager and provider of model portfolios for advisors.

Shares of Schwab were up 0.2% Monday morning and are up 7.6% so far this year. The S&P 500 index was down 0.5% Monday. The benchmark index is up 11.3% in 2026.

Anthropic unveiled Claude for Financial Advisors and the Schwab partnership on Monday at Future Proof, a conference for financial advisors in Huntington Beach, Calif. "To partner with a leading AI firm like Anthropic is a tremendous opportunity for us at Schwab and for advisors across the board," Beatty says.

Claude for Financial Advisors can draft emails in an advisor's style, allowing the advisor to edit an existing text rather than starting from scratch, according to the company. It can also identify when a portfolio is drifting off target or spot concentrated portfolio positions for an advisor.

"RIAs win on the depth of their relationship with their clients," Beatty says. "Claude will allow them to spend more time on their relationships rather than the logistics of the relationship."

Anthropic says that although Claude can perform a lot of actions, decision-making still rests with the advisor. "We want to automate the work, but make sure it is overseen by a human," Nolan says. "Claude will always ask for permission from the advisor before it takes action. That is by design."

Anthropic also says that the offering is designed for the heavily regulated wealth management industry. For example, workflow activities can be documented so that advisors can maintain records and oversight processes. And it can screen client-facing communications against the Securities and Exchange Commission's marketing rule.

There are no additional costs for Claude for Financial Advisors beyond what Anthropic charges for corporate subscriptions, which depends on the size of the team or firm.

The new offering comes as Anthropic tries to drum up more corporate business. Earlier this year, the technology company released AI agents designed for banks and other financial services companies.

Claude for Financial Advisors will allow Anthropic to insert itself more deeply into the wealth management industry, where registered investment advisors are the fastest-growing segment. Independent and hybrid RIAs oversaw $11.6 trillion in assets at the end of 2025, according to research firm Cerulli Associates. Schwab is the largest custodian for RIAs.

Collaborating with Anthropic may allow Schwab to address advisors' growing desire to use AI in their practices.

RIAs are increasingly spending more on technology, and AI specifically. Average AI-specific spending per firm is projected to rise to $494,000 this year from $237,000 in 2025, according to a recent Cerulli Associates report. Of RIAs that are already using AI, 64% say it has cut down on manual administrative work, according to the research firm.

Financial services companies have been introducing more AI-powered tools and capabilities for advisors and for clients. Altruist, a start-up custodian and smaller competitor of Schwab's, made waves earlier this year when it introduced new tax-planning capabilities to Hazel, its AI platform for advisors. The news sparked a selloff in wealth management stocks, including Schwab, Raymond James Financial, and LPL Financial. In August, asset-management company Vanguard said it agreed to buy Altruist.