High-net worth focused advice firm OCM Management has partnered with technology provider Multiply to grow its AI offering.
As part of the partnership, OCM Wealth Management will use Multiply’s AI technology to expand access to its services.
This will be done by automating aspects of the onboarding and annual review processes for clients.
OCM also plans to roll out a new appointed representative business model to expand its operations nationally, something which is made possible by the use of Generative AI on the existing business model.
Multiply co-founder and CEO, Vivek Madlani, said: “Utilising AI technology, we are set to transform the wealth management landscape, particularly through focusing on specific challenges our clients have such as their annual review processes.
“Our collaboration with OCM Wealth Management underscores our dedication to help advice and wealth management firms both drive efficiency and deliver client growth.”
Multiply also said the work it is focused on with OCM is expected to cut the time spent onboarding clients in the accumulation phase of their life cycle, looking for advice on Isa, Sipp, and general investment accounts.
OCM Wealth Management CEO and founder, Jason Stather-Lodge, added: “For two decades we’ve explored ways to scale our business nationally without the high costs and risks associated with acquisitions.
“Now, the introduction of Generative AI marks a thrilling evolution in our company’s history.
“Working with Multiply, we aim to enhance the client experience dramatically while reducing unnecessary adviser involvement.”
Stather-Lodge added that this approach not only increases efficiency but also helps the firm expand its brand.
“Our collaboration is designed to work smarter and faster, enhancing productivity, streamlining operations, and setting the stage for the next 20 years of growth,” he added.
tom.dunstan@ft.com
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