For providers, offering advisers practical support with artificial intelligence (AI) in the form of governance packs, real integrations, evidence of value will be key in keeping business, NextWealth has said.
The latest report in NextWealth's Adviser Tech Stack series – Clearing the path for AI in advice – ranked the material barriers that firms must address to move from pilots to scale when it comes to AI, with internal governance frameworks coming high up that list. The findings showed that fewer than 5% of financial advisers have full AI policy, guidelines, and sign-off. Conducted among 200 advice professionals, the research showed compliance and regulation are the standout barriers to AI adoption, alongside a lack of systems integration, and the findings show that 79% of all firms surv...
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