The 2024 Innovation Awards spotlight the transformative impact of AI on wealth management, with winners recognised for groundbreaking tools that enhance advisor-client relationships, streamline workflows, and elevate marketing efforts.

Financial Planning has announced the winners of its 2024 Innovation Awards, recognising significant advancements in the wealth management sector, especially in the application of artificial intelligence (AI). Firms like Orion, Snappy Kraken, and FP Alpha have emerged as key players deploying cutting-edge AI technologies to enhance advisor workflows, client engagement, and marketing effectiveness. Orion was credited for its AI-powered tools that assist advisors in communication and portfolio comparison, while Snappy Kraken's AI-backed email builder streamlines personalised outreach, tackling challenges in client engagement. Similarly, FP Alpha's tools process complex documents like estate plans, revealing actionable opportunities for advisors. Other winners included RBC Wealth Management for its AI innovations in client engagement and marketing, Nationwide for utilising the Metaverse for professional education, and WEALTHAWK for addressing lead generation tied to unique client financial events. These advancements underscore the industry's shift towards harnessing technology to not only boost operational efficiency but also improve the personalisation of advisory services. Winning companies were honoured for addressing key financial advisory challenges through automation, data-driven insights, and time-saving solutions. The recognition also highlights the evolving expectations of clients and the need for advisors to adapt and innovate continuously. These awards will culminate in a dedicated AI-centric event, ADVISE AI, where the Innovator of the Year will be announced, showcasing the dynamic future of wealth management driven by innovation.