Foster Denovo is looking to develop a digital advice service, according to its chief operating officer Helen Lovett.
Speaking at the Empowering Advice Through Technology conference this morning (January 18), Lovett told delegates the firm is also working on new artificial intelligence policies.
Speaking on a panel about how AI will impact financial advice, she said: “What enabled the massive acceleration in AI is the availability of data.
"The world is full of data and it is pretty amazing actually - I see massive opportunities for productivity improvement.
“We are researching this and looking to develop a digital advice service."
Lovett added Foster Denovo is also looking at what opportunities may be available now there are more people with pensions, following the success of auto-enrolment which was introduced by the government in 2012.
She explained that although people have more savings as a result, they may still not be accessing financial advice.
In the final quarter of 2023, Foster Denovo completed three acquisitions.
The most recent, announced in November, was of Punter Southall Aspire’s employee benefits business, which doubled Foster Denovo’s employee benefits division, Secondsight.
Foster Denovo was approached for more details on its digital advice plans.
tara.o'connor@ft.com
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