AdviserSoftware.com, part of the advice tech consultancy Financial Technology Research Centre (FTRC), has rolled out its first analysis of international adviser artificial intelligence (AI) tools.
This new framework aims to support financial advisers in the UK and globally, helping them navigate and choose the best AI options around.
It covers key markets including the UK, US, Australia, New Zealand, and Canada, with plans to expand to Dubai soon.
This framework assists advisers in selecting AI tools tailored to their needs, identifying major operational areas where AI is boosting support, and outlining which tools offer solutions in these areas.
To date, 14 providers such as Aveni, Otto, Conquest, and Unitfi have been reviewed.
Ian McKenna, founder of AdviserSoftware.com, said: “Advisers knowledge of AI is rapidly evolving, and our aim is to help to provide a clearer understanding of these providers offerings and how each offering may integrate into their business and in turn, provide a better service for their clients.
“At our recent Empowering Advice Through Technology Conference 56% of delegates indicated they had already deployed one AI system to their firm with another 20.7% indicating they were in the process of deploying such systems.”
McKenna added: “Once firms have successfully deployed one AI system it is inevitable they will look for more to achieve further benefits.
“We have built this framework to make the job of finding the right partners easier for them.”
He said: “The Adviser AI system has been built by a team who have first-hand experience working either in an advice business or as paraplanners so really understand the issues that advisers face.
“It will make it easy for financial advisers to easily identify key AI functionalities that will align with their business and help in their supply selection decisions.”