FAYBL has integrated its autonomous general agent on Iress’s widely adopted Xplan platform.
FAYBL’s general AI agent marks a technological step change for the financial planning and wealth management industry, offering a competitive advantage for advisors embracing end-to-end AI capabilities.
In contrast to the handful of task-specific AI integrations on the platform, FAYBL’s general AI agent assists financial advisors across complex workflows to produce fully compliant statements of advice in a fraction of the time it currently takes.
With Iress’s Xplan platform being used by 61% of planners in Australia and 56% using Xplan as their main software source, FAYBL’s integration with Xplan puts the capacity of a general AI agent in the hands of potentially thousands of advisors.
FAYBL can not only help advisors to drive better outcomes for their clients at speed and scale, but can also simplify the often-complex procurement challenges associated with AI adoption in the industry.
Early access is currently open for enterprise-level users and selected key financial advisors, with general access targeted for June 2025.
“FABYL’s general AI agent is a world first for the financial services industry, and an outstanding example of an international startup, founded in Australia, with truly global applications,” said FAYBL Co-founder Steven Goh. “The release of our general agent marks a significant leap forward for financial advisors. It integrates with an advisor’s practice, providing the ability to autonomously address client events and conduct research.”
Different to AI assistants, which respond to specific or sequences of prompts, or AI agents that perform defined tasks, FAYBL’s AI general agent can respond to real time events and independently manage complex workflows.
Sitting atop a core driving model, the agent continuously improves as underlying AI models advance, making their enhanced features readily available to the user.
Operating with a ‘human-in-the-loop’ approach, it can research, alert, recommend, plan, and execute complex workflows to produce desired results.
Importantly, client data processed by the agent is strictly utilised to enhance the accuracy and relevance of service delivery and user experience. This data is never employed to update or train foundational AI models, preserving confidentiality and data security while optimising task-specific performance.
The impact of FAYBL’s AI-driven approach is already validated through successful implementations across financial advisory practices. Advisors utilising FAYBL have reported substantial reductions in operational costs, enhanced productivity, and significantly improved client satisfaction levels.
