How to Overcome Advisor Resistance to AI-Generated Insights

This has heightened the need for wealth management firms to embrace technology, including artificial intelligence, to arm their advisors with data and tools that will improve the quality of advice and how it is delivered. And yet when it comes to exploring AI to help advisors onboard new clients and provide more relevant advice to existing ones, most firms are stuck in low gear, with few putting the technology at the core of their business. Indeed, less than one-third of the wealth managers we surveyed are scaling AI across their businesses. Part of the problem is getting buy-in and engagement from financial advisors who need convincing that insights created by AI will be actionable in their day-to-day roles. In some instances, recommendations provided by AI don't match clients' immediate needs or stages of life.