With the growing adoption and capabilities of agentic AI, many wealth managers are looking to the technology as a way to grow their customers without needing to dramatically increase their adviser team. However, who is responsible if an AI adviser gets something wrong?

AI is becoming a core part of the wealth management business. It is being used across various use cases, from streamlining back-end workflows to providing detailed insights to support decision-making. Demand to use AI is not just coming internally; customers are also exploring how the technology could help them improve their finances.

A recent report from Opinium, which surveyed 2,000 UK adults, found that 54% of investors have used AI to support their investment decision-making. How much you can trust the output of AI always comes into question, and around half of investors appear to have faith in its guidance. The report claimed that 45% of the investors trusted the technology, while 49% did not.

One of the biggest challenges wealth management firms are facing is the growing demand for personalisation. Customers are no longer satisfied with the one-size-fits-all approach and want a firm that treats them as an individual. However, this is difficult to achieve when advisers are already managing multiple relationships. Rather than increasing the team, many firms are looking to AI as a solution. This includes using AI to streamline manual workloads, but another route is using AI to assist the adviser. This can either be as a tool for the adviser to leverage to speed up decision-making or as an AI adviser that can either act autonomously or work as a first response to handle smaller tasks until the adviser is needed.

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