Quantitative Engineering Intern

Sowell Management, a US registered investment advisor, has partnered with Altruist to offer custodial services and AI-powered tools to its advisors. The enterprise partnership gives Sowell's advisors access to Hazel, Altruist's AI platform designed to help expand businesses and deepen client relationships. Hazel unifies and automates firm knowledge from conversations, emails, documents and CRM data, whilst providing market, regulatory and custodial insights. The platform can create personalised tax plans, capture discussions, draft follow-ups and prioritise tasks. Daryl Seaton, Sowell's chief executive officer, said the partnership gives advisors greater flexibility to grow their businesses. The move is part of Sowell's strategy to enhance its technology offering and integrate AI into its systems, enabling smaller advisors to compete with larger practices.

Sowell Management adds Altruist as enterprise custodial partner. Mar 02, 2026, 06:00 ET Firm to leverage platform to help advisors grow their practices, deepen client relationships and seek better outcomes NORTH LITTLE ROCK, Ark., March 2, 2026 /PRNewswire/ - Sowell Management (Sowell), a leading Registered Investment Advisor (RIA) serving financial advisors and their clients nationwide, today announced that it has partnered with Altruist to offer custodial services and support to the firm's advisors. Through the new enterprise partnership, Sowell's advisors will also have access to Hazel, Altruist's AI platform that was built to help advisors expand their businesses while deepening client relationships and seeking better overall outcomes. "Adding Altruist to our lineup of custodians gives our advisors greater flexibility to grow their business and service their clients," said Daryl Seaton, CEO, Sowell Management. "The new Hazel platform is a game changer for advisors of all sizes. It offers them innovative and intuitive client-centric AI tools they can use to scale their practices, streamline their workflows and enhance their financial planning capabilities, all while giving them more time to devote to clients and prospects. As an enterprise partner, Sowell will work closely with Altruist as the firm continually enhances its platform to stay at the forefront of our rapidly evolving industry." Altruist is a tech-forward wealth management platform focused on delivering better results for independent registered investment advisors (RIAs). Hazel is the AI platform built by Altruist to help unify and automate a firm's knowledge from conversations, emails, documents, CRM data and calendars, with market, regulatory and custodial insights. Hazel can help create personalized tax plans, capture and summarize discussions, draft follow-ups, answer questions instantly, and prioritize tasks. "The executive team at Sowell understands the critical role the right technology can play in achieving success in wealth management and we are looking forward to partnering with them at this pivotal point in their firm," said Jason Wenk, Founder and CEO of Altruist. "In addition to supporting Sowell's ambitious growth plans, we are grateful to have Daryl Seaton join us as a featured speaker at Altruist's Build to Grow Summit." Partnering with Altruist is the latest step Sowell is taking to enhance its technology offering and continue integrating AI responsibly into the firm's tech stack. Leveraging advanced capabilities will benefit the entire firm and enable small- to mid-sized advisors throughout Sowell to compete on a level playing field with larger practices. About Sowell Management Sowell Management is a privately held Registered Investment Advisor (RIA) and a trusted partner to financial advisors. Founded by financial advisor Bill Sowell in 2001, Sowell Management provides a transformative platform of services and solutions to guide advisors on the path toward true independence. Sowell has a nationwide network of financial advisors representing over $6 billion* in client assets (AUA/AUM) as of September 2025. *Regulatory assets under management (AUM) are assets where Sowell provides continuous and regular supervisory or management services to client portfolios. Assets under administration (AUA) is a measure of the total assets for which Sowell provides administrative services. Working with a highly rated advisor does not ensure that a client or prospective client will experience a higher level of performance or results. About Altruist Altruist is the tech-forward wealth platform for independent advisors, offering a fully integrated digital experience that makes managing investments and serving clients simpler and more affordable. Altruist combines a self-clearing brokerage firm with intuitive software for account opening, trading, portfolio management, billing, and reporting. With Altruist, financial advisors can create custom portfolios, trade fractional shares, automate rebalancing, and provide clients with a sleek web and mobile app experience. Learn more at altruist.com. Media Contact Haven Tower Group Brandon Blackwell (424) 317-4868 [email protected] SOURCE Sowell Management

The AI scare trade moves from software to the entire economy. Last week, AI disruption was a tech story. News broke about software stocks repricing rapidly as investors digested the implications of a new wave of AI tools that could replace tasks once handled by expensive enterprise platforms. The selloff was sharp, but contained. This week, Range explains, the market decided that AI disruption is not just a tech problem anymore. Target practice. AI fears tore through sector after sector of the economy - each triggered by an AI product launch (or the expectation of one). Range. In the span of five trading days, billions in market value were erased from industries that had nothing to do with software. Monday: Insurify's ChatGPT-powered comparison tool triggered a selloff in insurance brokers, with Willis Towers Watson posting its worst session since 2008. Tuesday: The contagion jumped to wealth management after Altruist unveiled an AI tax-strategy tool, sending Raymond James to its steepest decline since the COVID crash. Wednesday: Commercial real estate services cratered without any specific catalyst. The market had begun extrapolating - if AI could displace insurance brokers and financial advisors, the high-fee, labor-intensive world of CRE brokerage could be next. CBRE's two-day decline hit 20%, its worst since the financial crisis. Thursday: Freight and logistics joined the sell-off after Algorhythm Holdings demoed an AI optimization tool, with truck-broker RXO dropping 20%. In four sessions, the "AI scare trade" evolved from a narrow disruption story into a broad referendum on the future of white-collar intermediaries. The common thread: These are businesses that sit between buyers and sellers, charging fees for expertise, access, or coordination that AI might replicate faster and cheaper. What the market is actually scared of. The market doesn't expect an AI tool launched on a Tuesday to replace every financial advisor or insurance broker by Friday. The fear is about the economic structure of these businesses. Industries like insurance brokerage, wealth management, and commercial real estate services share characteristics that make them vulnerable: * Information asymmetry leads to historically high fees. These are businesses where the provider knows more than the customer, and charges accordingly. AI compresses that gap. * Entrenched fee structures lead to decades of stable pricing. The 1% AUM fee, 6% real estate commission, insurance brokerage spread - these have been remarkably durable. But the market is questioning what happens to legacy pricing when the cost of delivery meaningfully declines. * Human labor as the moat leads to high barriers to entry. For many of these businesses, talented human capital has been their competitive advantage. If the human becomes less important to delivering value, the talent premium erodes, along with a barrier that keeps competitors out. The market is asking a simple question: If AI makes the work cheaper to produce, how long before consumers pay less for it? When technology drives down the cost of delivery, prices eventually follow. Incumbents will argue they can adopt AI to cut their own costs while holding pricing steady. That's the bull case. But businesses rarely capture all the economic value from a technology shift - consumers eventually get their share. And if the legacy players don't offer it willingly, a startup or a competitor will. What's keeping the market afloat? While intermediary-heavy sectors bled this week, other parts of the market had a very different experience. AI Infrastructure Investors are still deciding which sectors deserve to be in AI's crosshairs, but one thing remains clear: AI adoption is accelerating, and the infrastructure to support it needs to be built. Energy remains the best-performing sector of 2026, up roughly 21% year-to-date. Data center operators like Equinix jumped 10% on the same Thursday that the S&P 500 fell - the market's way of saying it still believes in the buildout, even as it reprices the companies on the wrong side of it. Defensive Industries Investors are also parking capital in businesses with tangible products and predictable demand - companies that don't sell human expertise and aren't exposed to fee compression. Consumer staples and utilities led the S&P 500 on Thursday, with Walmart up 3.8% and Coca-Cola gaining as well. Broader Rotation to Value "Cheaper" stocks with lower P/E multiples are significantly outperforming their expensive counterparts. The S&P 500 Value Index, which traded at approximately 19x forward P/E at the beginning of the year, is up about 3.3% year-to-date. The more expensive S&P 500 Growth Index, which traded at 27x to start the year, is down roughly 3%. That's a 6-point gap in six weeks - a significant reversal from growth's dominance over the past several years. The companies getting punished hardest right now are the ones with the most to lose - high margins, premium pricing, fat fee structures. AI threatens to compress all of that, and the correction happens in valuations first, before it ever shows up in earnings. But what about companies on the other end of the spectrum? Businesses with thin margins, high cost structures, and limited pricing power - the kind that analysts already describe as needing to "grow via cost cuts" - might actually have the most to gain from an AI productivity shock. In some ways, AI is acting as an equalizer. Competitive moats that were built over decades through proprietary data, entrenched client relationships, and sheer complexity of the work are becoming less impenetrable. That's terrible news if you've been charging a premium for those advantages. But it's potentially great news if you're an innovator or looking for a second chance to compete. Two takeaways. Valuation matters again. Growth stocks have dominated for the better part of 15 years. With only brief exceptions in 2016 and 2022, paying up for the fastest-growing companies has been a winning strategy regardless of price. That trade has started to reverse. When the future is uncertain, investors tend to seek a margin of safety. They gravitate toward businesses where they're paying less for each dollar of earnings, and where there's less air to come out of the valuation if the thesis breaks. Right now, what you pay matters as much as what you own. The pressure to adapt is universal. Investors are re-underwriting business quality across sectors. High-margin intermediaries will need to prove they can adopt AI without surrendering the pricing that made them profitable. Lower-margin operators arguably have the most to gain, but will need to show they can actually innovate, capture productivity benefits, and translate them into better economics. For all companies, standing still is not an option. The market has made the cost of complacency very expensive, very fast. This communication is for informational purposes only and does not constitute investment advice or a recommendation to buy, hold, or sell any security. Forward-looking statements involve risks and uncertainties. Past performance is not indicative of future results.