Industries/Financial services/Asset and wealth management
AI consulting for wealth managers and super funds
Wealth management runs on documents written for one client at a time. Paraplanners build each Statement of Advice from a fact find, platform data and product research. Advice practices prepare a fee consent form for every client around each anniversary. Fund managers write the same quarterly report for each mandate, and super funds answer member letters from records the registry already holds.
Talk to our team →- Use cases
- Advice file drafting, Document search
- Runs on
- Your servers, on premises
- Connects to
- Iress Xplan, AdviserLogic, Midwinter, HUB24
- Rules cited
- 05, each with its source
- Decides
- A person, every time
Architecture
We build beside the software you already run
We build for advice practices and licensees, platforms, fund managers and super funds. The work is drafting, checking and reporting from your own records, with an adviser or a compliance officer approving each output. The model runs on your own servers or in an Australian cloud region, and no client or member data goes to a public AI service.
- SourcesIress Xplan / AdviserLogic / Midwinter / HUB24 / Netwealth
- Your serversAdvice file drafting
- ReviewYour team
- OutputAdvice files / Fee consents / Client reporting / Member correspondence / Compliance monitoring
The hours in wealth management go to work that repeats
- 01
Statements of Advice
Fact finds, platform reports and product research rebuilt into each Statement of Advice, then checked line by line before it goes to the client.
- 02
Fee consents
A consent form prepared for each client around the anniversary, signatures chased, and fees stopped where a consent lapsed.
- 03
Client and member reporting
Quarterly reports, performance commentary and member letters written one at a time from figures that already sit in the platform or the registry.
- 04
File reviews
Compliance teams read a sample of advice files by hand against the best interests duty and the licensee checklist.
Services
All seven services →We take these jobs off your team
Advice files
A draft Statement of Advice built from the fact find, the platform data and your approved product list, in your licensee template. The adviser reviews and owns the advice.
Fee consents
Consent forms drafted from the fees and services in each client agreement, with every renewal date tracked and unsigned consents listed before the window closes.
Client reporting
Quarterly reports and performance commentary drafted from platform and portfolio data, with a person approving each report before it goes out.
Member correspondence
Replies to member emails and letters drafted from the registry record and the trust deed, in your approved wording, with a person approving each reply.
Compliance monitoring
Every advice file read against your licensee checklist. Missing documents and gaps between the fact find and the advice are listed for the reviewer.
Research and fund documents
Research reports, product disclosure statements, investment committee minutes and fund policies made searchable on your own servers, with each answer citing its document.
- Ask why a fund was added to the approved product list and get the answer with the research report behind it.
- Long research reports and product disclosure statements summarised for the adviser, with each point linked to the page it came from.
- A compliance officer can open the source document and check any answer.
- A private model on your own servers or in an Australian cloud region. Client files stay inside the business.
Register
Wealth management runs under its own rules
- 01Australian Securities and Investments Commission ↗
Statements of Advice
Personal advice to a retail client generally comes with a Statement of Advice at the same time or as soon as practicable after. It sets out the advice and the reasoning that led to it, the remuneration and benefits received, and any conflicts of interest. A record of the advice is kept for at least seven years after the day it was given.
- 02Australian Securities and Investments Commission ↗
Ongoing fee consent
The current consent rules apply to ongoing fee arrangements entered into on or after 10 January 2025. The client renews consent in writing in a window that opens 60 days before the reference day and closes 150 days after it. If the arrangement terminates, no further fees can be charged. Records of consents, renewals and disclosures are kept for at least 5 years.
- 03Australian Prudential Regulation Authority ↗
Operational risk and service providers
CPS 230 applies to RSE licensees, and the current version commenced on 1 July 2026. For a super fund, investment management and fund administration are named as critical operations. The fund notifies APRA within 20 business days after it enters into or materially changes an agreement for a service it relies on for a critical operation. It also notifies APRA before it enters into a material offshoring arrangement.
- 04Australian Prudential Regulation Authority ↗
Information security
CPS 234 commenced on 1 July 2019 and applies to RSE licensees. A material information security incident is notified to APRA no later than 72 hours after the fund becomes aware of it. Where a third party manages information assets, the fund assesses the information security capability of that party.
- 05Australian Securities and Investments Commission ↗
AI governance
ASIC Report 798, published in October 2024, analysed 624 AI use cases at 23 banking, credit, insurance and financial advice licensees. Third parties developed the models in 30 percent of those use cases. ASIC states that the regulatory framework is technology neutral and that licensees need to consider their existing obligations before deploying AI.
Questions
Where does our client and member data go?
It stays in your environment. The model runs on your own servers or in an Australian cloud region that you control. No client or member data is sent to a public AI service. OAIC guidance from October 2024 tells organisations not to enter personal information, and particularly sensitive information, into publicly available generative AI tools. We build every system on that basis.
How does this fit APRA and ASIC rules?
We build it inside the controls you already run, and for a super fund we document each AI service against CPS 230 and CPS 234. The record covers where the model runs, who can reach the data and how an incident is reported. Every output keeps a record of the documents it used and the person who approved it. Your compliance team and your licensee decide whether it meets your obligations.
Can AI write a Statement of Advice?
It can draft one. The draft comes from the fact find, the platform data and your approved product list, and each figure shows its source. The adviser still owns the advice and the best interests duty, and nothing goes to a client without their sign off.
Do we need to change our advice software or platform?
No. What we build reads from the advice software, platforms and registry you already run, and puts drafts back where your team works. We will tell you in discovery if a current system is the actual constraint.
Where we do this work
Sydney / Melbourne / Brisbane / Perth / Adelaide / Gold Coast / Canberra / Newcastle / Hobart / Darwin
More in financial services
Finance / Banking / Insurance / Real estate / Accounting / Audit / Payments and fintech
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