The days when most advisors feared AI would take their jobs are mostly in the rearview mirror.
Most leaders in the wealth management space are testing some form of AI, whether it be playing with ChatGPT to frame marketing content or an email; or using a scheduling app like Calendly. This experimenting — often done outside of any massive tech platform integration at their firm — has led to more practical uses of AI to help improve workflow, rather than simply taking the work away from an advisor.
READ MORE: For financial advisors, is AI a job taker or maker?
According to a recent Financial Planning survey, 70% of respondents in the wealth management industry said it was likely that new tech like AI will change the skills employees need to function successfully at their firms. Practical AI tools for advisors will be a key topic at Financial Planning’s first ADVISE AI conference in October.
Financial Planning asked a handful of industry leaders in wealthtech about their favorite AI tools — outside of anything they’ve created internally — and why. Here are their responses:
