A core driver for Advanta in adopting AI was to address inefficiency in the advice journey. The goal was to better enable advisers to use their time and skill sets to deliver maximum value – providing individual adviser satisfaction and delivering good client outcomes which supports Advanta’s longer term strategic aims.
With hands-on support from the Aveni team, onboarding Aveni Assist was a smooth process. It was implemented in tandem with a strategic change management project undertaken by Advanta Wealth. Over a three month period Advanta followed a discovery process, with an internal network of ‘technology champions’ to iteratively test certain features of Aveni Assist. This allowed for a really deep understanding of both the technology and how individuals responded to its adoption to make the process a full part of a cultural transition for the firm.
“We understood how important it was to get the implementation right and bring our team along on this journey. To help deliver this, we invested in a tailored change management process to help us best understand and positively work with team members on their areas of apprehension and concern. We have seen really positive feedback from our team and the response to the tools has been excellent, and we are very pleased with the results and business impact so far.”
– Kevin D’Arcy, Group Head of Operations
“We want to ensure the relationships we are building aren’t transactional and ensure advisers can spend the time doing what they do best, getting to know our clients and building long-standing, trusting relationships. AI is enabling us in being able to do so by reducing admin time to allow for longer and more engaged conversations with clients. It is an investment in our clients and our people.”
– Kevin D’Arcy, Group Head of Operations
Aveni Assist allows advisers to record and capture key information from face to face and online meetings, automate note taking and create suitability reports. This allows Advanta’s advisers to focus on offering more informed and engaged discussions with clients, rather than note taking during important discussions.
Looking ahead, the firm sees enormous potential in leveraging AI to provide deeper insights into adviser–client conversations. This will not only streamline workflows and improve oversight but also enhance the quality of advice. With a happier workforce this feeds a positive culture as a business and allows greater transformation in other areas also to support business and team growth.
“We’ve been really well supported by Aveni as we have gone through this process and we are proactively exploring other areas of our business where AI implementation can also bring benefits.”
– Kevin D’Arcy, Group Head of Operations, Advanta Wealth
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