Netwealth recruits AI expert to boost in-house advice tech

Netwealth has appointed data intelligence expert and technologist Silvio Giorgio as general manager of data and artificial intelligence (AI).

An immediate focus for Giorgio will be to aggregate multiple sources of data for advisers, helping organise and match it within their Netwealth services.

"At the outset, I will be focused on the protection and integration of data across Netwealth's services and capabilities, and working with advisers, industry and regulators to ensure evolving technology helps to safely unlock adviser capacity and meet demand for advice," Giorgio said.

Giorgio and his team will also be focused on making automation tools available to advisers across manual processes and administrative tasks such as client onboarding, document building and management, client servicing, quality control, and workplace efficiency and reliability.

"We're in an environment of higher demand for advice, with not enough professionals able to service that need. The work we do around not only building the tools but also earning the trust of advisers and their clients in those tools, are critical to addressing this need," Giorgio added.

"For advisers, we know that capacity needs to move beyond personal productivity to scale. We also know that AI and data can be applied to create better personalisation for clients. I'm looking forward to helping make these ambitions possible for Netwealth advisers."

Netwealth noted access to insights and data as well as productivity uplift, are two of the most in-demand services among financial advisers.

Netwealth chief technology officer Nick Walker said: "Our ability to provide access to timely and insightful data for advisers and their clients, and to help advisers unlock more capacity through applied AI, are critical for our partners and for Australians seeking whole-of-wealth advice."

Bringing experience from technology and data lead roles with REA, Coles and Australia Post, Giorgio joins Netwealth at the outset of its ambition to double funds under advice by 2030, with a core focus on boosting operational efficiencies and adviser productivity.

"Having worked with Silvio before, I am excited about what he will bring to everyone who relies on Netwealth," Walker said.

"He is exceptional at identifying where to put AI to best use to get the most out of the technology, in a way that delivers measurable gains. I am particularly looking forward to the work he is about to undertake integrating data-driven insights across our advisor tech stack."