The company, founded by George Lucas and Steven Goh, is positioning the technology as a system capable of supporting multiple stages of the advice process, rather than automating a single administrative task.
The launch includes confirmation that Boutique Advisers Private Wealth in Perth, Andrew Rowan Wealth Management in Ballarat, and Waterfall Way Associates in Coffs Harbour are among the first firms to adopt the platform. Faybl said dozens of practices are already using the tool as it moves into its final round of testing ahead of broader release.
According to a pilot run by EY Australia, participating advice firms recorded an average time saving of 28 per cent, equal to around 1.4 days a week. In firms that used the tool more extensively, the reported reduction in time spent on administrative and documentation tasks rose to 72 per cent, or 3.6 days a week.
The company said Faybl is intended to process client documents, meeting transcripts, licensee rules and compliance checklists to help produce statements of advice and ensure recommendations align with licensee frameworks.
Boutique Advisers managing director Gary Hasler said the technology has begun to alter how time is allocated within his practice, pointing to a shift in the balance between administrative work and client engagement.
“Faybl is the future of Australia’s financial advice sector. By freeing up our advisers to focus on clients, we can deliver better outcomes, while making our work more enjoyable. Better for us, better for our clients,” he said.
Andrew Rowan, owner of Andrew Rowan Wealth Management, said the tool had prompted substantial operational change in his firm, describing its impact in terms of reduced manual workload.
“Faybl has enabled us to achieve a 95 per cent reduction in administrative workload. This leap in efficiency has redefined how our teams operate, freeing them to focus on innovation, problem-solving, and delivering exceptional client outcomes,” Rowan added.
Despite the enthusiasm of early adopters, the broader implications of general-purpose AI in advice remain under examination. As firms look to incorporate more automation into their workflows, questions persist around data governance, consistency of advice outputs and how licensees will assess AI-supported documentation.
While Faybl said its system incorporates compliance requirements, widespread adoption would likely involve additional scrutiny from both licensees and regulators.
The company’s shift from pilot stage to commercial launch reflects a growing interest across the sector in tools that can reduce administrative load.
