Wealth manager Foster Denovo has introduced agentic AI into its daily operations under a partnership with fintech company Palindrome.
The wealth management group said the work involves workflow and agentic AI systems, with additional development planned.
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The changes allow the business to draw on unstructured information together with its structured data lake, reshaping how its technology supports advisory and consulting staff.
Group Managing Director Helen Lovett said agentic AI would give employees more time for client-facing work and would also affect back-office systems in private wealth.
She added: “Logging on to different portals, waiting on the phone, wading through electronic files already belongs to a bygone era. Using an AI chatbot to surface intelligence from data, documents and call recordings is transformational.
“We’re diving in because of the step change in ways of working that are now available. Pre-meeting packs, fact-finds, suitability letters can all be drafted in minutes. Typing in a question gives you the answer. It will utterly transform the tasks underpinning the advice we give and clients will see an immediate impact. It’s no exaggeration to say the possibilities are endless.”
Palindrome co-founder Ed Beckett said: “What stands out about Foster Denovo is the quality of its process and its readiness to embrace AI.”
“Adopting an agent-native operating system tailored to how the firm works is a decisive step. Advisers didn’t train for years to spend their days on data entry and letter writing. Palindrome takes core parts of the advice lifecycle off their hands, so they can focus on the elements only they can deliver: the human ones.”
Foster Denovo serves more than 10,000 private clients and 1,500 corporate clients.
