Powder

Powder develops an AI document extraction agent aimed at wealth management and advisory firms. Users drop in files and the system parses them into structured data used to build proposals, run portfolio reviews and aggregate externally held assets. Supported document types span brokerage statements, 401(k), IRA and other retirement account statements, private asset and private fund records, balance sheets, vesting schedules, estate documents and wills, tax returns, insurance documents and asset decks.

The product is positioned to handle messy inputs, including faxes and scanned images, documents with missing tickers, multiple accounts in one file, alternative investments, Excel files and multilingual documents. The company states extraction accuracy above 99% and claims a 95% reduction in data extraction and entry time, describing outputs as both AI-generated and AI-reviewed. In addition to a user-facing platform (marketed as the Powder Playbook AI platform), Powder exposes an API so client firms can integrate document processing into their own workflows.

Business model

Software sold to advisory and wealth management firms, delivered both as a platform for direct use by advisors and analysts and as an API that customer firms embed in their own document and proposal workflows.

Traction

Publicly referenced customers include Ducere Wealth Management, SCS Financial, Chicago Partners, Sunpointe Investments and GC Wealth, along with unnamed San Francisco and Menlo Park based RIAs. Customers describe manual statement parsing that previously took 30 minutes to 5 hours per document being compressed into minutes, and one firm reports a materially higher rate of prospect proposal generation after roughly a year and a half of use.

Latest developments

Powder is promoting an introduction to its Powder Playbook AI platform with open sign-up, has expanded the range of document types it can extract from, and has made its document processing available through an API.