Nitrogen, an advisor technology provider, on Tuesday launched a new artificial intelligence-driven tool designed to help advisors build relationships with clients’ beneficiaries before wealth transfers, along with other upgrades to its tax product and its agentic AI workflow manager.
Nitrogen said the new wealth transfer tool, Legacy Center, generates a visual representation of a client’s estate, including accounts, trusts, insurance policies and beneficiaries, with projected dollar amounts. This June, it will also roll out Legacy Key, an advisor-branded message sent to each beneficiary through Nitrogen that provides a point of contact and guidance when a wealth transfer occurs.
“The advisors who win the next generation are the ones who thought about them before they had to,” Nitrogen CEO Dan Zitting said in a statement.
Nitrogen said Legacy Center is its fifth advisor product since the firm was founded in 2011 as Riskalyze, and was prompted to create it by advisors. In a survey of 345 Nitrogen users, the firm found that 98% believe generational wealth transfer will be important to business, but only 42% have a plan to address it. (A recent report by Paris-based investment firm Natixis pegged the global wealth transfer at more than $84 trillion over the next 20 years.)
The Auburn, Calif.-based Nitrogen also provided updates on its Tax Center and Nucleus agentic AI engine, as forecast at its annual conference in February.
For its Tax Center, the firm announced new client-ready PDF reports that illustrate the tax implications of portfolio transitions. It also added a Roth conversion calculator to run scenarios with clients.
The updates to its agentic AI engine, Nucleus, include “context-aware conversations across client tabs,” improved customer relationship management searching, conversational investment research and the use of CRM Wealthbox as a data source.
Nitrogen also added that Nucleus, just a few months old, is being used by 10,000 advisors in its network.
The firm is adding Legacy Center to its bundled “Nitrogen Complete” package, which costs $419 a month, or making it available as a standalone add-on. Its Nucleus and Tax Center updates will come at no additional cost for those using those services. The Tax Center alone costs $99 a month, according to the firm’s website.
Nitrogen announced the option for advisors to sign up for more tailored subscription options at its annual conference in October 2024.