Powder
Powder · Productivity
Powder is an AI document agent for wealth management firms. It turns brokerage, IRA, tax, and estate files into clean data, then pushes that data into proposals and planning tools.
About Powder
What Is Powder
Powder is a document AI platform built for one industry: wealth management. Advisors drop in the messy files that show up in a prospect meeting, including brokerage statements, 401(k) and IRA reports, trust documents, wills, tax returns, insurance policies, and balance sheets. Its agents read each file, pull out the numbers, fill the gaps, and return an extract an advisor can use the same day.
The problem it solves is time. Parsing a statement by hand takes 30 minutes on the short end and can run past two hours, and most of that work is retyping values into Excel or a planning tool. Powder keeps the pitch narrow on purpose: wealth management AI that knows a 401(k) statement from a tax return, rather than a general OCR tool that needs training on every new format.
The limits are just as clear. Powder sells to firms, not individuals. There's no self-serve signup, no free plan, and no published price list, so you book a demo and get a quote. It also expects a reporting or planning system on the other end to receive the output. Advisors who only want a statement reader will pay for a lot of platform they never touch.
Getting Started
- Book a demo and bring the document types your firm sees most often, since the walkthrough is built around your own files.
- Get the workspace set up in the web app and pick the third-party tools that Powder ToGo should write into.
- Upload a batch of statements and check the extraction against the source PDFs before anyone relies on it.
- Map extracted fields to your proposal templates or reporting system so the output lands in the right columns.
- Start with one advisory team, then open access to the rest once the review step and error rate settle.
Product Information
A quick look at Powder's pricing, supported platforms, and performance.
Best for
The users, tasks, and scenarios where this tool fits best.
Users
- RIAs and advisory teams
- Family offices
- Operations leads at larger firms
Tasks
- Building a prospect proposal from a stack of statements
- Consolidating held-away assets
- Pulling figures out of estate, trust, and tax documents
Scenarios
- A prospect emails six PDFs the night before a meeting and expects a portfolio review in the morning.
- A new client arrives with paper statements from three custodians during quarterly reporting season.
- An analyst spends an afternoon typing statement values into planning, estate, or tax software instead of talking to clients.
Key features
Document Extraction Across Statement Types
Powder handles the formats that show up in advisory work: brokerage statements, 401(k) and IRA reports, private asset summaries, balance sheets, vesting schedules, estate documents, wills, tax returns, insurance policies, and asset decks. The vendor puts accuracy at 99% or better, and that number comes from Powder rather than independent testing, so plan a sample check before you trust it on client files.
A Second AI Pass on Every Extraction
Extracted values get reviewed by a second pass before they reach the advisor. The company frames this as AI enabled and AI reviewed work, and says the pairing beats human-only entry on error rate. In practice it means you inherit a check step you didn't have to build. You still own the final review.
Proposal and Portfolio Build
Instead of exporting a spreadsheet and rebuilding weights by hand, advisors get the position data and totals they need for a client proposal. Firms in Powder's case studies describe going from hours per prospect to minutes, and several name the proposal workflow as the main reason they stay. Teams comparing document AI for advisors usually test proposal output first, since it shows whether the extraction is clean enough to send to a client.
Held-Away Asset Consolidation
Clients rarely keep everything at one custodian. Powder lets an advisor drop in outside statements and pull those accounts into a single view alongside managed assets. For firms serving high-net-worth households, this is the feature that changes the first meeting from a data collection exercise into an actual conversation.
Powder ToGo Integrations
Powder ToGo puts the agent inside the tools a firm already runs. You log in from your planning, estate, tax, or proposal software, and the agent fills investment details into that system rather than making you copy them across. It's the difference between a standalone extract and a workflow that removes the retyping step.
API and Enterprise Security
Powder exposes an API, which firms with engineering staff use to wire document processing into their own applications. On the security side, the company reports SOC 2 Type 1 and Type 2 completion, encryption in transit and at rest, and a commitment not to train models on customer data.
Pros and cons
Pros
- Covers the document types advisors actually receive, including estate and tax files that generic tools skip.
- Customers report around 95% less time on data extraction and entry, which is the vendor's figure but consistent across its published case studies.
- SOC 2 Type 2, encryption, and no training on user data answer the first questions a compliance team asks.
- An API plus Powder ToGo means the output can land in existing software instead of a separate silo.
Cons
- No published pricing and no free plan, so a small firm can't evaluate cost without a sales call.
- It assumes a downstream reporting or planning system, which leaves the product incomplete on its own.
- Solo advisors and small practices get little from it, since the design targets firm-wide document volume.
Frequently asked questions
Powder reads financial documents, extracts the data inside them, and sends that data into the tools an advisory firm already uses. The core job is financial document extraction from statements, tax returns, estate files, and similar records.
Related content
Explore related tools, skills, and articles for Powder.
Powder Alternatives
Base Code
Base44 (Wix) · Coding · ProductivityBase Code is a shared cloud development environment from Base44. Teammates describe changes to an existing GitHub codebase in chat, preview them live and send them back as pull requests.
Knocket
Knocket (Tencent RTC team) · Productivity · Business · ChatbotKnocket is a free live chat and contact page tool that lets visitors message you from your website, app, or a shareable link, with every reply handled from Telegram or one inbox.
FloorGen
Vinit Kumar (FloorGen) · Productivity · China AIFloorGen is a browser-based floor plan maker that turns a sentence or a sketch into an editable 2D plan and a 3D walkthrough. Export to PDF, DXF or video, and draw without an account.