TLDR: A recent survey at the Personal Finance Society (PFS) Autumn Roadshow revealed that only 21% of financial planning firms have fully integrated AI into their operations, while a majority (56%) are still in the experimental phase. This highlights a cautious but growing adoption of AI within the industry, despite its recognized potential for significant productivity gains and enhanced client service.
The financial planning profession is navigating a transformative period with the advent of Artificial Intelligence, as evidenced by a recent snap survey conducted at the Personal Finance Society (PFS) 2025 Autumn Roadshow. The survey, presented by Madeleine Debney, co-founder at Otto, revealed that a mere 21% of financial planning firms have fully embedded AI into their business operations. A larger segment, 56%, reported being in an experimental phase with AI, while 23% have yet to commence any AI initiatives .
Madeleine Debney emphasized the future potential of specialized AI in wealth management, stating, ‘the future is specialised AI that can act on your behalf… [it] doesn’t go to sleep, it works 24/7… AI is always on and rewiring time, access and industry expectations’ . This sentiment is echoed by broader industry trends, with AI in professional services surging by 40% in 2024, leading to ‘measurable gains in productivity and accuracy’ .
AI’s practical applications in financial planning are diverse and impactful. Debney highlighted how AI can significantly streamline the client onboarding process, automate compliance monitoring, facilitate generative client engagement, and supercharge portfolio rebalancing . Global research further supports these applications, indicating that the most common uses of AI are in client communications (41%), client data collection (33%), and client risk profiling (30%). Additionally, 35% of firms use AI in marketing and promotions, 34% in client onboarding, and 33% for optimizing operational productivity and workflow .
A global study involving over 6,200 financial planners across 24 territories, conducted by the Financial Planning Standards Board Ltd. (FPSB), revealed strong overall adoption, with nearly two-thirds (64%) of firms reporting AI usage. The majority of financial planners (78%) believe AI will help them better serve clients, and 60% anticipate it will enhance the quality of financial advice. Furthermore, 59% believe AI will reduce the cost of financial planning services, and 60% expect it to increase access for underserved populations .
Despite the optimism, concerns persist. Financial planners’ greatest worries regarding AI include data privacy and cybersecurity (47%), as well as the accuracy and reliability of AI outputs (42%) . To effectively adapt to and leverage AI, professionals indicate a need for enhanced professional development opportunities, particularly in data analysis and interpretation skills (49%). More than one in three (36%) also believe that broader education and training on AI would greatly benefit both the public and the financial planning profession .
The PFS Autumn Roadshow, which commenced in Surrey and will visit 10 more UK locations throughout September and October, aims to bring together experts and practitioners. The goal is to demonstrate both the technical and practical applications of cashflow planning as a vital tool for helping clients visualize their long-term financial futures. Carla Brown, President of the PFS, expressed enthusiasm for the roadshow, emphasizing its role in connecting professionals and focusing on ‘Wealth and cashflow planning: helping clients visualise their future’ .
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While larger firms like Cetera Financial Group are ‘meaningfully increasing’ their investment in AI initiatives in 2025, smaller boutique firms often integrate AI more smoothly due to their flexible structures . The industry faces a significant challenge, with an estimated need for 100,000 more advisors by 2034, a gap that AI-driven tools are expected to help bridge by boosting productivity .
