NextWealth

AI to help small firms present ‘more manageable interface’ with the FCA

This is expected to increase due to Consumer Duty

Majority of advisers that see this have client portfolios less than £100,000

Confidence on accessing retirement funds remains low

Half of advisers seen uptick in retirement advice demand

A fifth of advisers use tools provided by platforms

Advisers score risk profiling tools 7.6 out of 10 for effectiveness

Most advisers use the same profiling tool and set of questions

NextWealth says 41% of advisers expect to increase MPS use next year

'Too early' to tell how AI will be used in wealth management