Financial advice just got smarter

We are pleased to announce the launch of ‘Turo’, our new artificial intelligence (AI) capability, that will provide access to faster, cutting-edge robo-advice for the entirety of the advisory sector; from the smallest advisory firm and independent financial adviser to the largest multi-national. We are developing the robo-adviser of the future that not only improves the way advice is given, but also revolutionises interactions with the digital adviser.

Wealth Wizards was the first organisation in the UK to launch a white-label robo-adviser working with LV= and already has a number of live robo-advice tools in the market including our market leading robo-paraplanner tool which supports ‘at-retirement’ advice.  The power of Turo is its ability to rapidly configure a robo-adviser to match the advice policy of a specific practice or advice brand. Using training data from the advice firm's advice history the AI uses this data to rapidly configure the policy to match the firm's existing approach.

By learning a ‘house view’ in this way, Turo provides two vital services; firstly, it allows the machine to generate advice for the adviser, and secondly, it can verify cases that the human adviser has generated.  The new technology rapidly checks that safe and compliant advice is being delivered enabling anomalies and outliers to be identified and highlighted for further investigation. In real terms, this means that 100% of cases are checked for consistency and appropriateness, while delivering a scalable advice solution.  The result is an AI robo-adviser or robo-paraplanner that is bespoke to the firm with reduced set-up costs.

Andrew Firth, CEO of Wealth Wizards, comments: “Turo opens up the advice space to many more end users by allowing advisers to support a great volume of cases through our Smart Platform. In the UK we have a shortage of human advisers, and this technology will allow both small and larger organisations to expand their businesses, while maintaining their bespoke advice approach and brand values. The result is that advisers can be confident that Turo will deliver faster, accurate and compliant support while the adviser can spend more time on complex advice scenarios, new business and additional clients.”

Wealth Wizards is committed to pushing the boundaries of financial advice, and by powering Wealth Wizards’ existing Smart Platform, Turo will not only improve the way advice is given, allowing it to be delivered in minutes rather than days or weeks, but it will also revolutionise the way people interact with robo-advisers. 

 Peet Denny, CTO of Wealth Wizards, said: “Turo is providing a win-win scenario for our partners and their clients by enhancing on-going advisory relationships and reputations through efficiencies and superior quality of advice. The benefit of Turo is that users are able to stay one-step ahead of the sector, as Turo promotes easy movement into other products, such as mortgages and investments. Our AI solution supports our vision of unlocking the adviser of the future, bringing nearer a better world in which financial advice becomes accessible and affordable to everyone."

The Wealth Wizards AI Guild is currently developing state-of-the art features for Turo meaning that capabilities such as voice recognition could be a reality in the near future.