Nevis raises $70 million with Schwab backing its AI tools for financial advisors

Charles Schwab is backing Nevis with both capital and a deeper partnership aimed at bringing AI agents into more financial-advisor workflows. Nevis announced a $70 million Series B led by EQT Ventures on October 26, bringing total funding to $110 million. The companies intend to extend Nevis agents across Schwab’s custodial infrastructure.

Schwab and QuantumLight join as new investors, while Sequoia Capital, ICONIQ and Ribbit Capital increased their investments. The round also gives its lead investor a governance role: Carolina Brochado, partner and head of EQT Ventures, joins Nevis’s board. EQT partner Kaushik Subramanian becomes a board observer, a different position from a director.

From scattered tools to one platform

The financing comes two years after Mark Swan, Philipp Burda and Ivan Chalov founded Nevis. All three previously worked at Revolut. Their starting argument was that advisors needed something more connected than another meeting recorder or document-processing tool. Swan describes the goal as a platform that links a firm’s data, systems and workflows so agents can complete operational work.

Nevis calls that an AI operating system for wealth management. Its platform combines customer-relationship management, or CRM, with meeting intelligence, financial planning and custodial workflows—the administrative processes connecting advisors with institutions that hold client assets. The company’s stated division of labor keeps financial advice human-led while agents take on operational tasks.

• Meeting and client records: EQT says Nevis agents handle meeting notes, tasks and updates to client records.
• Plans and proposals: Nevis says advisors can generate these in minutes, alongside the platform’s broader planning tools.
• Account administration: EQT lists account opening and money movement among the operational workflows its agents handle.

That platform ambition already extends to replacing some existing software. In its investment explanation, EQT says some customers have switched off their CRM entirely and now run their firms on Nevis. Others are redesigning their data systems with the intention of retiring their CRM. Those are investor-reported customer examples, rather than a requirement that every firm replace its existing tools.

Assets on the platform in 2026

Assets on Nevis

$50 billion→$700 billion

billion USD

EQT Ventures says assets on Nevis’s platform grew from $50 billion to $700 billion in 2026.

Adoption grows; the productivity case takes shape

Nevis names Focus Financial Partners, IEQ Capital and United Capital among its customers. It says its team now numbers 70 and its agents have completed more than 100,000 operational tasks. EQT reports revenue growth of more than 25 times in 2026, though it provides no dollar revenue figure alongside that multiple.

For a more specific productivity example, EQT cites a five-month study at an unnamed independent registered investment advisor, or RIA. It says 90 advisors using Nevis were compared with a control group. The Nevis group held 72% more client meetings and 77% more opportunity meetings. Those investor-reported results measure meeting activity, not the quality of advice or clients’ investment returns.

The next step runs through Schwab

Schwab’s role reaches beyond supplying capital. In Nevis’s announcement, Schwab Advisor Services head Jon Beatty frames the investment and partnership as an addition to Schwab’s AI ecosystem, intended to give advisors more choice and capacity. Nevis says deeper links to Schwab’s custodial infrastructure can unlock new automations. The announcement does not attach a rollout date to that work.

Nevis plans to use the financing to accelerate agent development and extend the platform across more of the wealth-management technology stack. EQT also points to potential services such as tax preparation and access to private markets over time. Those possibilities describe where the platform might go next, not newly available products delivered with this funding round.