Sherpas, an AI wealth tech firm, raised $3.2m in a seed funding round led by 1248, with contributions from AUA Private Equity Capital and others in the wealth management sector. The company’s technology was tested in large advisory organizations, boosting investor confidence in AI infrastructure for future advisory services.

Sherpas aims to standardize the analytical foundation of financial advice, providing consistent, explainable recommendations in minutes. The funding round also brought Steve Lockshin, founder of Vanilla and AdvicePeriod, to the Sherpas board. The company plans to refine its decision-support frameworks in retirement, tax strategy, investment, and risk planning.

The focus for Sherpas is on modernizing the operating layer for advisory firms, enhancing consistency, speed, and scale in delivering advice. The company will allocate the new capital towards improving compatibility with enterprise systems in the US, supporting modernization without the need for additional staffing or increased operational demands.

Read more at Yahoo Finance: AI wealth tech firm Sherpas raises funds in seed round