Aveni, an Edinburgh-based FinTech, has unveiled a new Customer Advisory Board comprising senior leaders from top UK wealth management firms, including Succession Wealth (part of Aviva), Schroders Personal Wealth, 7IM, and Rathbones. The initiative aims to foster responsible AI innovation across the financial advice and wealth management sectors.
The newly established board will serve as a strategic partner to Aveni, offering practical feedback to inform its product roadmap and support broader collaboration on the deployment of artificial intelligence within regulated advice environments. This cross-industry initiative highlights the importance of developing AI solutions with financial practitioners, ensuring technology directly addresses on-the-ground challenges rather than offering generic tools.
The group’s early areas of focus include the complex balance between increasing client expectations, evolving regulatory requirements, and the day-to-day operational pressures facing wealth management firms. Through a series of regular workshops, Aveni intends to establish an agile, feedback-rich environment that enables learnings from one institution to be rapidly shared and implemented across others.
The board’s formation follows Aveni’s May launch of FinLLM, one of the UK’s first large language models specifically trained on financial services data.
FinLLM has been aligned with the Financial Conduct Authority’s guidance and anticipates the requirements of the EU AI Act, reflecting a growing regulatory emphasis on explainability and transparency in AI tools. Benchmark tests indicate that FinLLM outperforms general-purpose LLMs when tasked with domain-specific functions while maintaining robust baseline accuracy.
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