Wealth management has been slow to hand anything to software. Nevis raised $70M on the argument that advisers will hand over the back office first.
EQT Ventures led the Series B, with Charles Schwab joining as a strategic investor. The company describes the round as $70M and equivalent to €62M, bringing total funding to $110M across two rounds. It operates from London and New York and is barely two years old.
Nevis sells an operating system for advisory firms, layering agents over the custodian and wealthtech integrations that already hold client data.
Fourteen times more assets
The startup says client assets represented on its platform grew 14-fold to roughly $700B. That metric reflects money managed by its customers rather than assets it owns, but it sets the scale of the workflows its agents touch.
The new capital goes toward deeper agent capabilities, more integrations and hiring across product and go-to-market. Expansion inside existing firms matters more than new logos in a sector where switching core systems takes years.
Schwab’s strategic stake
Charles Schwab’s participation is the notable detail. Custodians sit underneath most advisory businesses, and their cooperation determines what an agent can reach and change.
Regulatory scrutiny is the constraint. Advisers carry fiduciary duties that do not transfer to a model, so any automation has to leave a defensible record of who decided what.
Nevis is not alone. OnTrade and others have been pitching agentic tools into wealth back offices since the summer, and established portfolio management systems are adding automation of their own.
