Applications of large language models in wealth management

Abstract

While Large Language Models (LLMs) have been developing at a breakneck pace in recent years, there appears to be a lack of documented real-world use cases of LLMs in the domain of personal wealth management. In this final year project, a wealth management app called Fortuna is developed whose goal is to demonstrate how LLMs can be used to provide personalised financial advisory services to the masses. By utilising LLM solutions developed with OpenAI’s state-of-the-art models and proprietary tools, on top of being built using a Flask architecture that is highly modular and flexible, Fortuna enables investors to embark on a holistic wealth management journey which starts with saving money and ends with investing money. Fortuna pioneers the integration of LLMs in personal finance, offering customized wealth management advice comparable to human advisors. Future improvements will focus on seamless banking integration, flexible data processing, efficient transaction classification, and specialized model fine-tuning.