What Wealth Managers Really Think About AI

Recap

On March 18, 2024, the FCS partnered with Arizent in a virtual event to present the results of recent research into artificial intelligence in the wealth management industry. The event included a discussion with:

  • Janet King, Vice President of Research and Content Solutions, Arizent
  • Ryan Neal, Senior Editor, TradePMR
  • John Kinzer, Director MarTech – AI & ABM, TIAA

Arizent, parent of publications including American Banker and Financial Planning, surveyed 127 financial advisors, representing a mix of wirehouse advisors, broker-dealers and RIAs. The goal was to understand the role that AI in all its iterations—including generative AI—is expected to play in the wealth management industry.

Respondents expect AI, in all of its iterations, to help with automation of key tasks/workflows (62%) and increase efficiencies (61%). As a group, they also see AI as a tool to protect against fraud, help with risk assessment and compliance monitoring, as well as a tool that can help enhance client experiences.

But while AI’s upside seems well understood, 60% of respondents still feel that it’s evolving too quickly—and in direct contrast to their hope that it could support client experience, two-thirds worry that it might lead to loss of personal touch with clients.

The results of this survey point to specific areas where financial advisors are likely to trust AI-driven solutions, and where they’re likely to have concerns about its use. They also highlight the effect wealth industry participants expect AI to have on the workforce.

View and download the Arizent’s presentation here.

The FCS is proud to partner with Arizent for a free virtual event on March 18 that will further the ongoing important discussions about the use of generative AI in financial services.

Everyone is struggling to understand how the advent of newly popular forms of artificial intelligence will affect their work, and wealth managers are no exception. Arizent, parent of publications including American Banker and Financial Planning, wanted to understand the unfolding role of AI in all of its current iterations–and generative AI specifically–in the wealth management industry. 

In this exclusive webinar, Janet King, Vice President of Research and Content Solutions at Arizent, will reveal the results of recent research into how financial advisors and wealth managers perceive AI’s risks and benefits. She’ll explain what this new study uncovers about:

  • The level of familiarity with and understanding of AI in the wealth management community
  • Sentiment around the pace of AI evolution and the uses cases, both personal and professional, where AI is viewed as a trusted tool
  • The extent of experimentation with generative AI and the concerns evoked by its use
  • What effect wealth industry participants expect AI to have on the workforce

Following her presentation, Janet will discuss real world applications with a panel of financial marketers, including:

  • Ryan Neal, Senior Editor, TradePMR
  • John Kinzer, Direct of MarTech – AI & ABM, TIAA

Join us on Monday, March 18 for this free, live virtual event (12:00pm-1:00pm).

FREE REGISTRATION

  • Start March 18, 2024 12:00 PM EST
  • End March 18, 2024 01:00 PM EST
  • Location ZOOM

Speakers

Presenter/Moderator Janet King

Vice President Research & Content Solutions

Janet King is Arizent’s VP Research & Content Solutions. Janet is a marketing research and strategic insights executive with three decades of experience in the media, technology, financial and professional services, and healthcare industries. Her ability to apply a variety of research approaches to strategic business problems has resulted in the delivery of impactful, innovative […]

Panelist John Kinzer

Director, MarTech – AI & ABM

John Kinzer is Director, MarTech – AI & ABM at TIAA, which he joined in 2022.

Panelist Ryan Neal

Senior Editor

Ryan Neal is a senior editor at TradePMR, which he joined in 2023.

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