Aveni.ai, the AI fintech business, has been selected by independent financial advisory firm TFAS Wealth to implement AI solutions across its expanding service offering in the UK.
TFAS Wealth offers remote financial advice across the UK. The investment in Aveni’s AI technology has been prioritised to help support Quality Assurance and compliance capabilities, as well as create significant efficiencies for advisers.
The adoption of the latest advances in generative AI, NLP and large language models through tools which Aveni has developed specifically for financial services will allow TFAS Wealth to expand its highly scalable remote advice platform, whilst providing unparalleled risk management and oversight.
TFAS Wealth will deploy Aveni’s core products Aveni Detect and Aveni Assist to enhance adviser productivity and streamline compliance workflows with automated assurance, reducing a 90 minute QA assessment to approximately 15 minutes. The tools will remove the need for any manual note taking, freeing up more quality customer-facing time. They will also allow greatly improved CRM administration and the ability to generate client suitability reports and post-meeting briefs within minutes of interactions taking place, potentially reducing admin time by up to 75%.
Jeff Lange, Group CEO TFAS Enterprises, SMF1 TFAS Wealth commented, "We are thrilled to partner with Aveni as we continue to challenge the status quo within the financial services market by embracing innovative, value-adding technology. At TFAS Wealth, our philosophy has always been centred around providing exceptional, client-centric financial advice, and this partnership with Aveni perfectly aligns with our commitment to leveraging advanced technology to enhance our remote advice proposition. 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."
Karina Bowden, Group Chief Risk Officer TFAS Enterprises, SMF3, 16&17 TFAS Wealth commented, “I’m very excited about deploying Aveni’s solutions across the business, this will allow my Risk, Compliance and Quality teams to have much more oversight of the entire business, using the same resource but focused on areas that add the most value to our clients and the business along with assurance to myself, the rest of the Board and the regulator.”
Jamie Hunter, COO Aveni explains: “The financial advice model is under increasing pressure to deliver more for customers, whilst clearly demonstrating a specific and data-driven approach to compliance and quality assurance. 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.”