Advice Systems, Inc. (ASI) was launched in August 2018 and is an early-stage personal financial technology company and the creator of Intelligent Decision Tools™ (IDT). CEO and Founder Ronald E. Newton, CFP® was the former CEO and Founder of Forefield, Inc. which is the financial industry’s foremost provider of real-time sales, education, and presentation solutions for financial institutions and advisors. Forefield was acquired in 2010 for $19.5 million by Broadridge Financial Solutions, Inc. (BR) and today Broadridge Advisor Solutions has 125,000 advisors as licensed users. ASI expects to enter into a strategic partnership with Broadridge which would include joint marketing to Broadridge’s existing licensed users.
ASI’s vision is to revolutionize personal financial advice by creating a new unique category of FinTech software… Automated Personal Financial Advice. Our vision includes making expert holistic personal financial advice available, not only to the 300,000 financial advisors, but also to the 106 million USA households who lack sufficient investible assets to qualify to work with a financial advisor.
Simulating the process of how human financial advisors work with clients, IDT answers both routine and complex personal financial planning questions through a concise Q&A process that typically requires only a few minutes or less to complete. The result is specific recommendations based on the user’s profile making the user an “instant” expert on virtually any personal financial issue, enabling confident financial decisions and providing a rich user experience.
It’s important to identify what IDT is not:
Rather, by incorporating both quantitative and qualitative analysis based on each user’s unique profile, IDT answers specific user questions, making the user an “instant expert” on virtually any personal financial planning issue. We do this through advanced client profiling, and knowledge engineering within a rules-based expert system allowing users to seamlessly answer their personal financial planning questions:
It’s also important to emphasize that IDT does not replace the critical role that financial advisors provide clients any more than TurboTax eliminated CPAs.
The feedback we’ve received during IDT demonstrations has been overwhelmingly enthusiastic:
“[The software] is shaping up to be an incredibly valuable addition to what exists in the marketplace, and I wholly agree with your vision. In particular the Intelligent Decision Tools seemed very interesting to what I think our advisors would really appreciate.[It] has tons of value [and doesn’t even] need to be integrated with a CRM thanks to the limited data entry requirements.” - Senior Executive from a leading national Broker-Dealer firm - August 2019
“Intelligent Decision Tools is very interesting and no one else is doing this. This is good for compliance, and all broker dealers would benefit from this software. This is a no-brainer!” - Nation’s leading FinTech expert - December 2019
ASI’s total addressable market is $1.4 billion based on the combined value of four target markets:
ASI has been bootstrapped by founder Ron Newton since it launched in August 2018, investing $1.8 million thus far, and is now seeking $500,000 in seed financing. ASI believes this is an outstanding investment opportunity and your investment would serve to democratize and revolutionize providing personal financial advice… Expert advice made simple!
Initiated pilot test with a nationally recognized wealth management firmJanuary, 2020
Leading FinTech expert feedback; “No one else doing this”… “All broker dealers would benefit from this software”… “This is a no-brainer!”December, 2019
IDT commercially availableDecember, 2019
Overwhelmingly positive feedback from product demos to industry executivesAugust, 2019
Founder launches ASI, committing $1.8 million to develop the softwareAugust, 2018