Independent financial advisory firm TFAS Wealth has selected artificial intelligence (AI) fintech company Aveni.ai to integrate AI solutions across the former’s expanding service portfolio in the UK.
Based in the UK, TFAS Wealth provides fully independent, straightforward and remote financial advice across the country.
The firm has access to custom products and services from various financial providers derived from a comprehensive proposition.
TFAS Wealth has prioritised this investment in Aveni.ai’s AI technology to bolster its quality assurance and compliance capabilities. The advisory firm also aims to enhance operational efficiency for its advisers.
Aveni.ai chief operating officer Jamie Hunter said: “TFAS Wealth is already known for its innovative approach through optimal remote advice, and its desire to use technology to make this experience better for its customers and its advisers reflects this innovation mindset.
“The strategic partnership between Aveni and TFAS Wealth with the deployment of our vertically-aligned automated compliance and workflow tools is expected to deliver transformational efficiencies across the whole value chain.”
As part of the collaboration, TFAS Wealth will adopt advanced generative AI, natural language processing (NLP), and large language models via tools developed by Aveni specifically for the financial services sector.
These technologies will enable TFAS Wealth to scale its remote advice platform while maintaining robust risk management and oversight.
Additionally, TFAS Wealth plans to deploy Aveni’s core products, Aveni Detect and Aveni Assist, to improve adviser productivity and optimise compliance processes through automated assurance.
This move is expected to reduce a typical 90-minute quality assurance assessment to approximately 15 minutes.
Furthermore, the tools will eliminate the need for manual note-taking, allowing advisers more time to focus on client interactions.
The enhanced customer relationship management (CRM) administration will facilitate the generation of client suitability reports and post-meeting summaries within minutes, potentially cutting administrative time by up to 75%.
TFAS Wealth TFAS enterprises group CEO Jeff Lange said: “By integrating Aveni’s AI solutions, we are not only streamlining our processes but also significantly enhancing the quality and efficiency of our services.
“This collaboration allows us to continue pushing the boundaries of what’s possible in financial advice, ensuring that our clients receive the best possible support, tailored to their needs, while we maintain the highest standards of compliance and operational excellence.”
