Edinburgh-based fintech firm Aveni has launched a new industry group to help shape the future of AI in financial services.

Bringing together C-suite executives from the UK’s wealth management and financial planning sector, Aveni’s Customer Advisory Board will provide cross-sector collaboration with the inaugural meeting focused on emerging trends in AI, operational innovation, the regulatory landscape, and the needs of the financial advice sector.

Leaders from Succession Wealth (Aviva), Schroders Personal Wealth, 7IM, and Rathbones took part in the discussions, sharing insights around strategies of AI adoption at scale, factors limiting growth, and the role of the financial adviser in an increasingly agentic world.

“We’re bringing together some of the most respected leaders in wealth management and financial planning to define how AI serves the financial services sector,” said Colin Clark, chairman of Aveni and of the newly formed Customer Advisory Board.

“This Board will play a pivotal role in shaping a collaborative roadmap for innovation—ensuring AI is developed and deployed both responsibly and with real impact across the industry.”

The group will continue to collaborate closely with Aveni, using its members’ influence to guide the development of AI technologies, with the hope of improving financial advice, regulatory compliance, client engagement, and operational resilience across the sector.

Those taking part in the venture are responsible for driving strategic technological transformation in their own organisations, and through this forum, will be able to share best practice to advance the use of AI in financial services.

The group will also collaborate closely with Aveni’s leadership to shape the company’s product roadmap, inform innovation priorities, and help support a broader industry agenda for AI’s responsible deployment.

The Board will convene approximately twice a year, with members contributing to innovation initiatives, strategic workshops, and advisory projects that could shape the future of responsible AI development in financial services.

“Financial services firms are grappling with how to balance client expectations, regulatory pressures and operational efficiency,” said Robbie Homer-Plews, CCO of Aveni.

“AI has the potential to transform this dynamic – but it must be shaped in partnership with the industry. Our Customer Advisory Board will ensure that what we build directly addresses the real-world challenges and opportunities our customers face.” 

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Even aside from launching this industry think tank, the Scottish fintech has made moves to revamp the UK’s financial sector with radical new tech.

In May, Aveni announced it would release one of the first domain-specific LLMs purpose-built for financial services, aligning with both FCA guidance and regulations under the EU AI Act. 

The creation of FinLLM has been a strategic priority for Aveni, and was the focus of investment made in the business last year by both Lloyds Banking Group and Nationwide. That investment round saw Aveni raise £11 million in one of the largest Series A investments in a Scottish business last year.