Is 2024 the year of the AI assisted advice and planning firm?

Developing an AI strategy to manage risk and empower growth

clock • 6 min read

Chris Davies delves into the opportunities and risks linked to adopting generative AI and explores how curious advice firms can structure a strategic implementation plan...

With last year's explosion in generative artificial intelligence (AI) development and service offerings, there is no doubt this year should see some serious adoption for large language models and machine learning (MI) in the retail investment advice market and financial planning profession. I say should, because, I currently do not believe many firms actually know how or have a strategic plan to adopt AI across their products and services and legacy technologies and service providers (compliance, platforms, fund manager, advice firms) suffer from old infrastructure and poor-quality data ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Technology

Half of advisers use technology for Consumer Duty compliance

Half of advisers use technology for Consumer Duty compliance

Advisers not aware of digital tools that can help

Sophia Panayi
clock 04 September 2026 • 2 min read
The human advantage: Why better AI raises the value of good advice

The human advantage: Why better AI raises the value of good advice

Raising the standard of understanding

Elly Dowding and Lee Coates
clock 04 September 2026 • 4 min read
Marloo adds Morningstar research and data to AI platform

Marloo adds Morningstar research and data to AI platform

Available to UK adviser users

Sophia Panayi
clock 02 September 2026 • 1 min read