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AI in wealth management: All systems go

June 22, 2022

9 OUT OF 10

financial advisors believe AI can help grow their book of business organically by more than 20%.

Artificial Intelligence will have a significant impact on client-advisor relationships

83%

of FAs interviewed said they believe AI will have a direct, measurable and consistent impact on the client-advisor relationship in the next 18 months.

83%

of FAs interviewed stated that they believe AI can achieve a level of sophisticated advice and planning that will ultimately leave them competing with an algorithm for clients in the next 18 months.

55%

of FAs interviewed believe to a great extent that AI will have either a transformative or revolutionary effect on the future of financial advice within the next three years.

Pacing is essential—and advisors want to be involved with the roll-out.

5 OUT OF 10

advisors feel like their firms are challenged to act on their AI vision

A wealth of support for AI

Preparing for the move to AI

Eighty-seven percent of financial advisors want to use more AI tools day-to-day and are willing to spend time to learn an AI-based process and tool if there’s a clear benefit.

What to do next?

About the Authors

Scott Reddel

Managing Director – Wealth Management Lead, North America


KIMBERLY RICHARDS

Managing Director – Banking and Capital Markets Strategy


KERI SMITH

Managing Director – Strategy & Consulting, Applied Intelligence, Analytics


KEVIN YANG

Senior Manager – Strategy, Banking and Capital Markets