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Financial Planning and its parent company, Arizent, opened nominations today for the first Innovation Awards program. The honors will be bestowed this fall upon winning firms at ADVISE AI, a new conference dedicated solely to artificial intelligence in wealth management.
Nominations for the awards are now open. And registration is open for ADVISE AI, which will be held Oct. 9-10 in Las Vegas.
AI products, solutions and investment have exploded over the last year and a half after the release of ChatGPT, the large language model developed by OpenAI. That technology and many others based on AI are revolutionizing businesses and industries around the world, including wealth management.
The Financial Planning Innovation Awards will recognize technology developers that are creating AI tools that advance the industry, and wealth management companies that are implementing technology — not limited to AI solutions — in innovative ways. There will also be two awards for innovators of the year.
“Wealth management won’t look the same a year or two from now as this technology changes the way financial advisors interact with clients, understand investments, market and prospect, and so much more,” said Brian Wallheimer, Financial Planning’s editor-in-chief. “We’re excited to talk with firms about what they’re developing, what they’re using and how it’s advancing their businesses. These awards will show us the true power and potential of AI in our industry.”
READ MORE: ADVISE AI conference to showcase practical uses of AI for advisors; register now
The awards will be given during a celebration at ADVISE AI, a new Arizent and Financial Planning conference that is the first in the wealth management industry to focus solely on AI. With an advisory council of top players in the fintech and AI space, the event is expected to give attendees the knowledge and tools they need to understand this new technology and how it can be safely and effectively leveraged to grow their businesses.
Nominations are open through May 31, 2024, for the following categories.
Technology development firms
- Innovation in Marketing Technology: Recognizes advancements in AI technology specifically designed to enhance marketing strategies within the wealth management industry.
- Innovation in Specialized Planning Technology: Acknowledges innovations in AI-driven solutions aimed at adding specialized and advanced planning for wealth management clients.
- Innovation in Client Onboarding Technology: Celebrates advancements in AI technology facilitating seamless and efficient client onboarding experiences in wealth management.
- Innovation in Lead Generation Technology: Recognizes pioneering AI-driven technologies that revolutionize lead generation processes and strategies in the wealth management ecosystem.
- Innovation in Portfolio and Investment Strategy: Acknowledges advancements in AI technology tailored to optimize portfolio management and investment strategies for wealth management clients.
- AI Innovator of the Year (Company): Recognizes an organization at a technology or service provider firm that is creating AI solutions to be used within the wealth management ecosystem.
Wealth management firms
- Innovation in Marketing: Highlights wealth management firms that develop or implement technology that enhances marketing strategies effectively to attract clients and prospects.
- Innovation in Automation: Highlights wealth management firms that develop or implement technology that automates manual tasks, creating significant efficiencies in their practices and allowing more time for revenue-producing activities.
- Innovation in Client Engagement: Highlights wealth management firms that develop or implement technology in innovative ways to enhance client relationships and experiences.
- Innovation in Professional Development: Highlights wealth management firms that develop or implement technology in innovative ways to attract, develop and retain financial advisors.
- Financial Advisory Firm Innovator of the Year: Recognizes a financial advisory firm that is using AI or other tech solutions to better serve clients, offer more services, and automate manual tasks and create efficiencies, and has demonstrated exceptional innovation and leadership in leveraging these solutions within their firms.
A panel of judges that includes industry leaders, AI specialists, academics and journalists will evaluate the nominations. Anyone may nominate firms in any category, and there is no limit to the number of nominations one can submit or a company may receive.
To nominate a firm, fill out our nomination forms here. For questions, email brian.wallheimer@arizent.com.
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