Avenir has launched a purpose-built artificial intelligence (AI) chat assistant, which it has described as a ChatGPT for wealth management firms.
The AI tool is designed for wealth management firms and delivers “institutional-grade capabilities comparable to those used by global investment banks like JP Morgan”.
However, the tool is also customised for financial advisers, paraplanners and administrative teams.
Avenir claims its AI is unlike generic AI platforms, as it seamlessly integrates with key industry systems, CRMs and back-office platforms such as SharePoint, OneDrive and Intelliflo.
Avenir, a provider of AI-powered workflow solutions that help financial adviser firms, said: “This creates a unified data ecosystem, giving AI access to both firm-specific data and industry insights.”
Advisers can ask questions in plain English — whether it’s “What’s John Smith’s latest SIPP valuation?” or a more complex request like “Prepare my annual review meeting with Jane Doe” — and receive instant, accurate responses backed by reliable sources.
The assistant finds the right information from any system within seconds, cutting out system-switching and file-hunting.
Avenir chief commercial officer Andrea MacDonald said: “This is transformational for firms managing vast amounts of data. We’re consolidating complex systems into a single, intelligent chat interface — one place to ask questions, get answers and take action.”
Avenir CEO and co-founder Jeremy Bensoussan added: “Wealth management firms are managing more disparate systems than ever, often more than major banks, but with a fraction of their IT budget. Our AI solution breaks down the barriers between these systems, turning complexity into operational advantage.”
The platform maintains strict permission controls, ensures GDPR compliance and meets FCA audit requirements.
In January, The Lang Cat and Avenir teamed up to support financial-advice firms with more efficient reporting.
It will cut reporting times down from “hours to minutes” and “transform the way financial advisers work”, according to the two firms.
Avenir will help The Lang Cat to achieve this through its reg-tech Analyser software.
Analyser is a platform and MPS comparison solution developed to provide advice firms with independent, robust and repeatable due diligence and client reporting.
It also helps ensure they make the best decisions for customers and comply with the demands of the regulator.
