Nevis raised a $70M Series B led by EQT Ventures, with Charles Schwab joining alongside Sequoia Capital, ICONIQ, QuantumLight and Ribbit Capital. Total funding now stands at $110M.
The startup sells what it calls an AI operating system for wealth management. Customer relationship management, meeting intelligence, financial planning and custodial workflows share one platform, with agents that carry tasks to completion.
Chief executive Mark Swan wrote that the aim is to return advisor time to clients. Nevis names Focus Financial Partners, IEQ Capital and United Capital among its customers, representing more than $700B in assets.
Why Schwab wrote a check
The strategic investment deepens an existing partnership. Schwab supports more than 17,000 independent registered investment advisors holding 48M client accounts and $13T in assets.
That distribution channel matters more than the capital. Nevis agents will reach into Schwab’s custodial infrastructure, automating account work that advisors handle by hand today.
Carolina Brochado, who heads EQT Ventures, joins the board. She framed the market as a capacity problem, with advisors retiring while demand for advice climbs.
The crowded middle
Wealth technology has absorbed a wave of AI vendors promising to automate back-office work. Nevis is betting that owning the whole workflow, from first meeting to custodial action, keeps it from being swapped out.
