Artificial intelligence (AI) is impacting nearly every industry by enhancing efficiency and delivering insights that enable better automation and more informed decision-making. In financial planning, this would mean professionals and firms will be able to allocate more time to high-value activities, such as building strong client relationships.

Yet, industry-wide, there is a persistent question: how can financial planners best utilize AI to elevate a profession so deeply rooted in human connection?

To delve deeper into financial planners’ thoughts and plans for AI, eMoney surveyed 400 financial professionals to understand their views on AI and how they planned to use it. The study’s findings reveal the industry’s widespread strategic optimism, but it also underscored concerns, such as the potential for a lack of human oversight.

To provide context for the research data, eMoney recently launched a new eBook that helps bring the data to life, AI in Financial Advice: What’s Next? Trends and Guidance for Forward-thinking Planners.

Key Insights: Financial Planners See Valuable Opportunities with Proper AI Use

Ninety-four percent of financial professionals consider AI a valuable opportunity that deserves serious attention, though most advocate for a cautious approach to its integration.

Financial planners aren’t just excited about AI because it’s trendy—they are excited because it can enhance their ability to do what matters most: build trust, solve meaningful problems, and stay relevant in an industry where clients have more choices than ever.

The research shows planners view AI as a powerful tool to enhance their practices with significant time savings, initially through the automation of low-risk, back-office tasks. With routine tasks better automated, planners will then have more time to focus on fostering client relationships and safeguarding the human element of financial planning.

In the end, it’s clients who determine the true value of advice, and industry research consistently shows that clients reward advisors whose skills and integrity they deeply trust. However, building that level of trust takes time and intentional effort, both of which are finite. This is where AI can help.

What Financial Planners Think About AI

Financial planners recognize the broad spectrum of potential benefits of AI across their firms, from enhanced personalization and improved compliance to improvements in the client experience and a practice’s capacity for growth.

However, efficiency stands out as the most valued—and immediate—outcome:

• 68 percent expect greater work efficiencies  
• 38 percent expect deeper data analysis 
• 38 percent expect financial gains  
• 36 percent expect improved client service and marketing  

Today, financial planners clearly value AI for efficiency, but in the future, priorities may shift toward AI-enhanced personalization or predictive client insights.

Effectively Addressing Concerns Around AI-use in Planning

The research also showed that industry-wide AI adoption demands clarity and caution. Professionals must understand their AI’s data sources and explain outputs clearly. Proactive risk strategies and smart implementation ease top industry concerns:

• 67 percent cite the potential for inaccurate output 
• 61 percent worry about a lack of human oversight 
• 60 percent are concerned about data security/breaches

These numbers support the widely held belief that human planners are indispensable to advisory relationships. Keeping human leadership at the core ensures planners retain proper oversight and control over how AI systems are used with clients.

What Else Can AI Do to Enhance Financial Planning?

As financial professionals grow more comfortable with using AI to create efficiencies in their practice, planners can see themselves using it to uncover hidden opportunities in their existing book of business:

• 86 percent agree that AI could enhance the ability to analyze large data sets.
• 70 percent believe AI supports better decision-making through faster, deeper analysis.

What Do Financial Planners Say Are the Initial Opportunities for AI?

We are starting to see a picture of the future where AI supports financial planners across many areas of their practice—beginning with automating tasks, enhancing personalization, improving compliance, and, in the future, uncovering insights.

Here is where financial planners say they see significant opportunities within their practice to use AI beyond routine tasks:

• 82 percent plan to use AI for middle- and back-office processes
• 81 percent anticipate AI applications in client administration 
• 80 percent see the potential for AI in compliance/regulatory functions 
• 76 percent expect AI to streamline tasks for staff
• 75 percent plan to implement AI for fraud detection

However, success lies not in using AI for everything but in using it wisely. Continued strategic implementation enables planners to not only free up time, but also to eventually sharpen client relationships, as well as focus on high-value activities that truly differentiate their services in an increasingly digital world.

What the Future Impacts of AI on Financial Planning Could Look Like

The full impact of AI on financial planning has yet to be determined. However, industry professionals are optimistic about the potential breadth of its future implications for clients and financial planners.

• 91 percent believe clients will continue to need financial advisors 
• 88 percent anticipate AI will require new skills/training for advisors 
• 77 percent expect AI to enhance productivity 
• 74 percent believe AI will help provide greater value
• 57 percent anticipate AI will help improve client relationships

As technology advances, tools powered by machine learning could enable deeper insights into client behavior, market trends, and risk management. This innovation promises to enhance collaboration and accuracy, ultimately reshaping the financial planning landscape.

Learn How Financial Planners Can Get AI-ready Today

AI’s most impactful transformation in financial planning may occur as more planners turn to the human side of planning as a competitive differentiator. As financial planners increasingly consider integrating AI into workflows, it’s equally important to focus on cultivating interpersonal skills that distinguish human professionals from automated systems. Many financial planners recognize that AI adoption offers a valuable opportunity to enhance specific strengths and complement their existing capabilities.

But where do you start, and what skills will you need? This may be the most important factor in a firm’s successful integration of AI into its practice.

To learn the answer to this question, as well as a list of the seven most important skills needed to succeed in a new era of personalized AI-enhanced planning, download our eBook, AI in Financial Advice: What’s Next? Trends and Guidance for Forward-thinking Planners.

DISCLAIMER: The eMoney Advisor Blog is meant as an educational and informative resource for financial professionals and individuals alike. It is not meant to be, and should not be taken as financial, legal, tax or other professional advice. Those seeking professional advice may do so by consulting with a professional advisor. eMoney Advisor will not be liable for any actions you may take based on the content of this blog.

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