Artificial Intelligence Leader Tim Foley Joins AdvisorEngine

Veteran wealth management innovator named company’s first Head of AI; charged with building upon AdvisorEngine’s AI-ready foundation of deep data, platform connectivity and smart automation tailored for investment advisory firms

NEW YORK--(BUSINESS WIRE)--AdvisorEngine®, the financial experience company, deepened its commitment to developing innovative solutions for financial advisors, announcing wealthtech veteran Tim Foley as the company’s first Head of Artificial Intelligence.

Foley’s role at AdvisorEngine includes developing and integrating third-party AI functionality within the company’s wealth management platform. Most recently, Foley was LPL Financial’s Head of Artificial Intelligence Accelerator, charged with building and delivering AI capabilities for independent advisors.

“We believe that AI is fundamentally transforming the advisory business. Tim is well-positioned to lead AdvisorEngine’s development of industry-specific AI solutions that help our clients achieve new levels of operational excellence, growth, and engagement with their clients and prospects,” said AdvisorEngine CEO Richard Cancro.

“Tim brings an extensive record of success building technology tools for advisory firms,” Cancro added. “His AI domain expertise is in delivering capabilities to serve specific wealth management needs. He has a commitment to high standards that has rightly earned him peer respect. I’m especially proud to welcome Tim to the team.”

Foley’s 25 years of experience in wealthtech include serving as Managing Director at BNY Mellon|Pershing, where he oversaw its advisor workstation (NetX360), client website (NetXInvestor), and integration services (NetXServices) as the Head of Technology Product Management for nine years.

Prior to Pershing, Foley served at JPMorganChase as Head of Product Development for Chase Wealth Management's advisor platform. He also held prominent roles at Bear Stearns, DLJdirect, and Goldman Sachs, where he created innovative tools designed for advisors, broker-dealers and direct-to-consumer solutions. Foley will report to Patrick Arnold, AdvisorEngine’s Head of Product Management.

“This announcement today speaks to our dual commitment to both in-house innovation and third-party partnerships,” Arnold said. “Our goal is to deliver AI capabilities that solve key business tasks for advisory firms, and we will continue working closely with leading providers across our open-architecture wealth management platform while building our own capabilities where it makes sense to do so.”

AdvisorEngine’s wealth management platform is built to take advantage of emerging AI capabilities. Industry-leading integrations with top custodians ensure access to quality data needed for AI functionality. A client’s entire lifecycle with an advisory firm is connected in the platform, feeding dynamic, tailored workflows, alerts, actions and automation that simplifies daily practice tasks and generates data-driven insights to help firms boost their growth and optimize their client service.

AdvisorEngine is already integrated with several AI wealthtech providers, bringing new AI-powered functionality to its clients that offers increased operational efficiency and scalability that drives revenue growth. The company has also been sponsoring a series of research studies with The Oasis Group into different categories of AI-powered tools to help advisory firm clients evaluate and select tech for their practices.

“We have completed foundational investments over the last two years to become AI-ready,” said AdvisorEngine COO Craig Ramsey. “With our modern infrastructure, rich data set and smart automation capabilities across our platform, AdvisorEngine is especially well-positioned to help advisory firms realize meaningful business value with AI.”

AdvisorEngine is also growing its domain expertise in wealth management AI. Foley’s role is complemented by AdvisorEngine CIO/CTO Raj Madan, who created the Advanced Technology Lab and oversaw the development of AI tools at BNY Mellon|Pershing.

“The right AI resources can help advisors elevate their practices,” Foley said. “Our goal is to bring additional AI capabilities to advisors that help them boost revenue growth, streamline daily work, and give them more time to connect deeply with clients. Many advisory firms are overwhelmed trying to keep up with the rapid advancements in AI. I am excited to work directly with our clients to ‘clear the fog’ on how to actually implement AI successfully.”

"My colleagues share this vision," Foley added. "The outstanding culture and dedication to serving advisors here, along with the quality of the people and leadership team, are what drew me to AdvisorEngine."

An alumnus of Princeton University with a degree in Mechanical & Aerospace Engineering, Foley later earned his MBA from the Massachusetts Institute of Technology. Foley additionally completed executive education programs in AI development at MIT. Beyond his professional achievements, he actively contributes to his local community through teaching Sunday School and coaching youth robotics teams. Foley currently lives in New Jersey with his family.

About AdvisorEngine

AdvisorEngine powers financial advice that is personal, scientific, and beautiful. The company's technology is trusted by hundreds of wealth management firms in the United States. Its wealth management platform uses smart automation to modernize the advisor experience (AX), the business operations experience (BX), and the client experience (CX). Modules include prospect engagement tools, paperless client onboarding, account aggregation, AdvisorEngine CRM®, goals-based financial planning tools, model portfolios tools, portfolio construction analytics, performance reporting, and fee billing.

AdvisorEngine is a wholly owned subsidiary of Franklin Resources, Inc., a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. For more information, please visit advisorengine.com.