Powder

Powder is a fintech company located in Los Altos, CA, with a focus on asset management within the financial industry. The company, which is part of the Y Combinator W24 batch, employs a team of six and operates across the United States and Canada, offering both in-person and fully remote services. Powder’s innovative platform utilizes generative AI to automate various aspects of the wealth advisory process, including sales, data gathering, and client onboarding. This technology enables the extraction and analysis of financial documents and conversations, allowing for tailored recommendations and insightful analytics tailored to the needs and preferences of prospective clients. Powder’s system integrates seamlessly with downstream systems to facilitate efficient client onboarding and offers institutional-grade features such as statement parsing, direct data feeds, security classification, target allocation, and tax-efficient implementation. The company aims to reduce investment risks and fees for clients while providing a flexible and scalable solution for wealth advisors. Powder offers two pricing plans, Starter and Professional, with discounted rates for early sign-ups and a one-month free trial to attract new clients. Currently, the company is expanding its client base, signing yearly contracts with over ten firms.