AI Investments Zero In on Estate Planning With Wealth.com’s $65M Round

Wealth.com just did for itself what it’s hoping to help advisors do for their clients: It got wealthier. 

The AI-powered estate and tax planning platform used by financial advisors and wealth management firms recently raised $65 million in a Series B funding round. Wealth.com, which previously raised $30 million in Series A funding in 2024 and garnered an investment from Charles Schwab just last year, said in a news release that its AI-powered workflows have grown 664% year over year as more wealth management professionals turn to automation. Estate planning has been a huge beneficiary of the recent influx of AI capital. More than half of respondents to a Caring.com study said they have no estate planning documents in place, and advisory firms have been quick to fill that gap, said John O’Connell, founder and CEO of the consultancy The Oasis Group. It’s the “fastest-growing category in financial planning, growing faster than alternative investment adoption in my discussions with wealth management firms,” he added. 

Automation Everywhere 

The Wealth.com investment will be used to add staff in AI, product and security operations, CEO Rafael Loureiro told Advisor Upside. It also plans to expand AI capabilities, accelerate enterprise deployments and bring new innovations to market faster. “Most firms are still operating across spreadsheets, PDFs and disconnected systems. That’s not scalable,” Loureiro said. “We’re investing to replace that with the platform where data is structured, insights are generated automatically and workflows actually connect.” 

AI has the power to upend the wealth management industry. For advisors, work that used to take hours or days now happens in seconds, freeing time to focus on clients instead of manual processes, Loureiro said. And for clients, it allows advice to become more proactive and personalized. But that doesn’t mean it comes without pushback: 

• The interest in AI is real, but so is the skepticism, and both are justified, Loureiro said.
• “Firms are pushing hard on accuracy, governance and security, which they should. In this industry, you can’t deploy something that’s mostly right,” he added. 

Estate Planning Boom. Patric Glassell, chief growth officer at Kwanti, a portfolio analytics solution for financial advisors and investment managers, said advisors aren’t skeptical of AI, but they are skeptical of the hype. “The tools getting real traction solve a specific, tangible pain point rather than leading with AI as a feature,” he said. For instance, note-taking tools took off because the value was immediate and the downside risk was low.

Estate and tax planning may be more complex than note-taking, but the return-on-investment case is equally clear, Glassell said. “These are labor-intensive workflows that genuinely benefit from structured automation.”