Advise Wise has revealed plans to expand the pilot for their AI-powered Suitability Letter template, following a round of positive feedback from users.
The company aims to gather more opinions and insights from financial advisers before launching the feature to the full market.
The Suitability Letter template will be available for free to users of the Advise Wise Platform, and qualified financial advisers can register with the platform for free without any monthly charges.
Benjamin Wells, head of product and development at Advise Wise, said: “We’ve used the cutting edge OpenAI abilities from ChatGPT to create an industry-first AI-powered Suitability Letter template, enabling advisers to focus on delivering better customer outcomes rather than being bogged down with repetitive administration tasks in their advice process.”
He added that AI could improve the quality of advice while reducing time costs for advisers.
Jonathan Thirkill (pictured), chief executive officer at Advise Wise, added: “We wanted to provide advisers with a powerful and easy-to-use tool, to save them time but also to ensure greater focus is given to vulnerability and Consumer Duty while being compliant, reducing errors, and helping clients get the best outcome.”
Thirkill expressed confidence in the positive impact of the template, describing it as a “game changer for financial advisers.”
