Wealth-tech FNZ has announced the launch of a new genAI tool baked directly into its platform, designed to help financial advisors deliver more personalised advice and serve more clients at scale.

FNZ’s Advisor AI is the first in a series of new AI-driven solutions that the firm plans to launch to boost the productivity of financial advisors, and allow them to meet the growing pressures of evolving client expectations, regulatory obligations and business growth targets.

The company, which counts offices in both Edinburgh and Dundee, said its research has shown 73% of wealth management clients expect more personalised services from their advisor in the next two years, while 70% of advisors believe better technology will be essential in meeting those expectations.

As a result, FNZ created Advisor AI to address these challenges, saying that the tool will ‘change the game’ for wealth management advisors by utilising the company’s vast data set, comprising more than 650 financial institution partners, over 26 million end investors and close to $2 trillion (£1.47tn) in assets on the platform.

The firm said the tech will allow for real-time insights based on client and portfolio data, allowing advisors to proactively identify opportunities, flag risks, tailor their recommendations, and automate the entire client meeting lifecycle.  

“We know advisors globally are already experimenting with and relying on generative AI tools, but they are looking for integrated solutions to effectively and safely support them and their clients,” said Roman Regelman, FNZ group president.

“FNZ Advisor AI changes the game. Underpinned by rigorous testing and embedded into our market-leading advisor platform, it enables advisors to spend more time with clients and deliver more reliable, faster and more personalised advice at scale.”

Recommended

• UK Gov Group Shares “Blueprint” for AI in Asset Management
• J.P. Morgan Private Bank Expands Scotland Team
• Wealth-tech FNZ Raises $500 Million in New Capital

This new tool is further evidence that FNZ are going all in on AI, having last month announced a strategic partnership with Microsoft to combine the tech giant’s AI capabilities, cloud infrastructure and engineering with its own reach in the wealth management sector.

The five-year partnership will see FNZ integrating Microsoft’s Azure AI Foundry at the heart of its platform in the hope of developing new digital wealth solutions, while Microsoft 365 Copilot and intelligent agents deployed to support middle- and back-office processes.

FNZ are getting in on the ground floor of what is predicted to be one of the next big waves of AI transformation. Last year, a report from Deloitte forecast that genAI tools will become the leading source of investment advice by 2027, with 78% of usage for advice by 2028, having already quickly outstripped banks, friends and family, and traditional financial advisors.