Training financial advisers for an AI-integrated future

Every week, I talk with financial advisers who tell me how they feel about artificial intelligence (AI) in financial services. Many are excited about what AI could do for their practice, but they’re also a bit nervous about learning to use these new tools. This mix of enthusiasm and uncertainty is completely natural when facing such a significant change in how we work.

Why does this matter and how can we help you succeed in a world where AI is becoming part of everyday work in financial services?

Why your current skills need an update

You’re already brilliant at helping your clients. You understand their needs, give them solid financial advice, and build lasting relationships. These skills will always be valuable, but today’s clients expect more. They’re becoming increasingly comfortable with digital tools (regardless of their age) and want to know their adviser is using the best available technology to help them manage their wealth.

Think of it this way: if you could spend less time on paperwork and more time talking with clients, wouldn’t that make your job more rewarding? That’s where AI in financial services comes in. It can handle many time-consuming tasks, giving you more time for what really matters – helping your clients achieve their financial goals. Many advisers find they can double their client interaction time once they’ve mastered basic AI tools. We experience this in our own business too.

Understanding AI’s business impact 

You don’t need to become a technology expert. Instead, think of generative AI as a helpful skilled assistant that can help you build a more profitable and sustainable practice. Here’s what that means:

Practice growth and innovation 

Generative AI excels at creating unique, engaging content that can help you reach new clients and deepen relationships with existing ones. Imagine having an assistant that could generate fresh ideas for client events, craft compelling thought leadership pieces, or design targeted marketing campaigns – all while maintaining your unique voice and professional standards. Practices can grow their client base by leveraging these capabilities effectively.

Operational excellence 

The most successful practices use AI to streamline their operations and improve profitability. From automating routine communications to generating comprehensive business reports, AI can handle time-consuming tasks that traditionally eat into your business development time. We reduced administrative work by 40% by implementing a combination of AI tools and automation, allowing us to focus on strategic business growth.

Better client experience

Today’s clients expect personalised service at scale – something that was nearly impossible before AI. Generative AI can help you create customised client communications, develop targeted service offerings, and identify opportunities for practice expansion. This level of personalisation, combined with your expertise, creates a compelling competitive advantage.

Making the business case 

Investing in AI capabilities isn’t just about keeping up with technology; it’s about building a more valuable practice. Consider these points:

• Businesses using AI effectively report 25-35% improvement in operational efficiency
• Client satisfaction scores increase when advisers spend more time on relationship building
• Early adopters are seeing significant competitive advantages in client acquisition
• The cost of not adapting may be higher than the investment required to change.

Responsible implementation 

As you integrate AI in your financial services practice, maintaining professional standards is crucial. This means:

• Being transparent with clients about how you’re using AI to enhance your service
• Ensuring all AI-generated content aligns with your professional obligations
• Protecting client confidentiality and data privacy
• Using AI to augment, not replace, your professional judgment.

Next steps for your business or practice 

Start by identifying one area where AI could have the biggest impact on your practice’s growth. Perhaps it’s content creation for business development, or streamlining client onboarding processes. Begin there, measure the results, and expand gradually.

Consider joining a community of forward-thinking advisers who are sharing their AI implementation experiences. Learning from others’ successes and challenges can accelerate your own progress. We’re seeing the most successful practices taking an iterative approach – starting small, measuring results, and scaling what works.

Your journey towards building AI in financial services starts with a single step, and we’re here to help you take it.

Stay curious and keep raising the bar.