Questions advisors actually ask.
Plain answers about the digital twin, validation, privacy, and getting started. If your question isn't here, start a free trial or email us directly.
What is Wallace Understudy?
Wallace Understudy is a digital twin of a financial advisor: software that captures how you actually run your practice, validated against what you really do. Like an understudy, it learns the role by watching you, steps in when you're out, and takes over when you step back. One living playbook does three jobs: it trains the team, it keeps the practice continuous, and it hands the practice off intact when someone steps back.
What is a digital twin of an advisor?
It's a captured, validated version of your operating methodology: how you segment clients, when you rebalance, how you frame tax decisions, what cadence each household gets, and the reasoning behind each rule. Your team can ask it anything, and it answers only from your signed rules. You stay the decision-maker; the twin carries your judgment, it doesn't replace it.
How is this different from an AI notetaker or advisor copilot?
A notetaker remembers the meeting. Wallace knows the method, and checks it against what you actually did. Meeting assistants capture moments; Wallace captures and validates a methodology, then hands it to whoever runs the book next.
What does "validated" mean?
Anyone can write down what they think they do. Wallace replays your recent months against your own manual and grades adherence, then keeps watching for drift and asks: did the rule change, or did you slip? It's not a flattering self-portrait; it's checked against your actual behavior.
What data does it need, and where does my data go?
You drag in exports you already have: client lists, transaction histories, emails, notes. The reading happens on your own computer. Only the de-identified pattern leaves your machine, never a name or an account number. Wallace keeps the playbook, not your client roster. See our Data and AI practices for the details.
Will the AI make things up?
No. When the playbook doesn't cover a question, it says "not covered" rather than invent something plausible, and it routes the gap back to the advisor to fill.
How long does it take to set up?
About ten minutes to start: drag in your files, then a short interview fills in what the documents can't explain. If you can send an email, you can build your digital twin.
Who is it for?
Multi-advisor RIAs and wealth managers: principals and CCOs who want the practice documented and measured, teams onboarding junior advisors, and advisors who want the practice to survive a handoff. Same product, three jobs; you pick the one that matters most right now.
Does Wallace take custody or discretion?
No. Wallace has no custody and no discretion. People approve every action. The playbook documents and measures; it doesn't take action.
Does it keep itself up to date?
Yes. The twin is living: it keeps watching for drift, sends a weekly digest, and nudges you when rules go stale, so the playbook stays current instead of becoming a binder on a shelf.
How much does it cost?
Three tiers, per advisor per month, seats included: Playbook at $199, Twin at $499, and Firm from $999. There's no setup fee and no long-term contract, and you can start on Playbook with a free trial and no sales call. See how pricing works for what each tier includes.
Do I need any other Wallace product, or a custodian connection?
No. Wallace Understudy is a standalone product. It works with whatever custodian, CRM, planning tool, and notetaker you already use, and there is nothing to connect to start: you drag in exports you already have. You do not need a Wallace Finance account or any other Wallace product.
Is this a compliance tool?
Wallace documents and measures how closely your practice follows its own stated process. Many firms find that useful alongside their compliance and continuity programs, but it is not a compliance, supervision, or surveillance system, and it doesn't guarantee any regulatory outcome.
The judgment shouldn't live in one head.
Your team runs on it today. It's there when you step back.