News Summary
Brooklyn Artificial Intelligence Research has raised $2 million in funding from Atypical Ventures and other notable investors to enhance its personalized tax management solutions. The investment underscores Brooklyn’s vision to revolutionize asset management through advanced technology. With its multi-asset direct indexing solution, the firm aims to empower asset managers and RIAs, supporting a growing demand for personalized investment strategies. The backing valued Brooklyn at an undisclosed amount, indicating strong market potential amidst an evolving financial landscape.
Brooklyn, New York – Brooklyn Artificial Intelligence Research, an innovative firm specializing in tax management and personalization solutions, has successfully secured a $2 million funding round led by Atypical Ventures. This investment aims to enhance the company’s capabilities and support its vision of transforming the asset management industry through advanced technology.
In addition to Atypical Ventures, notable participants in the funding round included S&P Global Ventures, the CEO of the Hantz Group, and several executives from asset and wealth management sectors. The financial backing values Brooklyn at an undisclosed amount, marking a significant step in its growth trajectory.
The centerpiece of Brooklyn’s offering is a multi-asset direct indexing solution designed to empower asset managers and independent Registered Investment Advisors (RIAs) in personalizing tax management across various investment dimensions such as equities and fixed income, all within a single custodian account. This innovative platform can be deployed as a white-label solution or as a subadvisory service through Brooklyn Investment Group, LLC.
Erkko Etula serves as the CEO and Co-Founder of Brooklyn, leading the firm’s efforts to integrate advanced technology in asset management practices. The platform not only leverages artificial intelligence but also incorporates institutional-grade portfolio optimization and automated tax-loss harvesting, further enhancing its capabilities.
The funding comes at a time when asset management firms are increasingly seeking ways to personalize investment solutions for their clients, and Brooklyn’s platform has already gained traction in the industry. It supports dozens of RIA firms and asset managers that collectively manage over $2 trillion in assets, indicating a robust market presence.
In a notable development, S&P Dow Jones Indices launched “MyIndex,” a customizable version of their market indices, utilizing Brooklyn’s platform in September 2024. This partnership highlights the practical applications of Brooklyn’s technology and its potential impact on investment strategies.
The strategic alignment with investors is designed to bolster Brooklyn’s ability to meet client needs and advance the ongoing shift towards personalized and tax-managed investment approaches. The firm aims to provide significant value through its platform, empowering clients with tools that support tailored investment management.
Chris Wake, Managing Partner at Atypical, indicated that Brooklyn holds a non-obvious technical advantage, which positions the company favorably in a competitive market. Furthermore, Dan Draper, CEO of S&P Dow Jones Indices, articulated that the investment aligns with the intent to expand access to innovative financial benchmarks, catering to the evolving needs of the next generation of investors.
Founded on the principles of merging finance with artificial intelligence, Brooklyn Artificial Intelligence Research is positioning itself as a leader in the field of personalized investment management. By leveraging cutting-edge technology, the firm aims to not only enhance client investment experiences but also alter traditional asset management practices for a more sophisticated and tailored approach.
As the landscape of asset management continues to evolve, Brooklyn’s innovative platform is set to play a pivotal role in meeting the complexities of modern investing, fulfilling the growing demand for personalization, and optimizing tax strategies within managed accounts.
With a focus on client-centric solutions and technological innovation, Brooklyn Artificial Intelligence Research is poised for further growth and expansion in the ever-changing financial services landscape.
Deeper Dive: News & Info About This Topic
- Pulse 2.0
- Wikipedia: Artificial Intelligence
- The New York Times
- Google Search: Asset Management Trends
- Finsmes
- Google Scholar: Investment Management Technology
- USA Today
- Encyclopedia Britannica: Investment Strategies
