As wealth management continues to explore and build AI use cases, one of the large tech firms in the North American sector has developed new offerings.

Envestnet, the US-headquartered turnkey asset management program and provider of fintech-driven back office services, has unveiled two AI innovations: Generative Business Intelligence (Gen BI) and Insights AI. 

The offerings are designed to transform the way advisors access, interpret, and act on data. They come as the wealth management sector continues to develop AI use cases.

"We're evolving our platform to transform data into intelligent action," Jeremi Karnell, head of Envestnet Data Solutions, said. "Using machine learning, natural language interfaces, large language models (LLMs), we're helping advisors make smarter, faster decisions that drive client growth and satisfaction."

The firm's new Augmented Gen BI solution empowers home office users and advisors to access real-time insights through simple, natural language queries (NLQ) – no coding or data specialists required, it said. Within seconds, Gen BI generates grids, charts, dashboards, and other features, each with built-in data explainability to assist advisors in quickly interpreting insights, making informed decisions, and enhancing client outcomes.

This is made possible through a secure connection with OpenAI's LLM, which translates the user's query into the necessary code behind the scenes. 

In the case of Insights AI, this builds on Envestnet's Insights Engine – which already generates more than 25 million next-best actions daily – to deliver even more personalized, scalable advisor support, the business said. 

The offering aims to understand advisor intent and retrieves relevant data, reasons through options, and helps identify potential high-impact actions such as identifying tax-smart harvesting opportunities; spotting asset consolidation opportunities from behavioral signals, auto-generating meeting briefs based on client portfolios and triggering financial professionals to contact clients when they have milestone events in their lives.

Insights AI also uses content about specific firms, and Envestnet’s libraries to enhance context, helping advisors deliver smarter, more timely advice, it said. 

"Insights AI isn't just conversational – it's contextually aware and outcome-focused," Dave Lieberman, principal director of product at Envestnet, said. "It's like giving every advisor a personal AI research analyst, always on and always learning."