AI-based efficiency gains are making my advice practice more profitable.
- Agree (49%)
- Too early to tell (49%)
- Disagree (3%)
Loading ...The results of our latest poll indicate advisers couldn’t be more evenly split when it comes to the question of whether AI-based efficiency gains are making their advice practices more profitable.
As we go to press, exactly half of advisers agree AI tools are making their advice practices more profitable, while the other 50% says it’s too early to tell. None of those taking part in the poll disagreed with the premise.
We had posed the question as the financial services/financial advice sector continues to leverage the value of artificial intelligence in new ways, and we were interested to find out whether AI was actually making a difference to the profitability of your advice business.
We recently reported that Quotemonster was seeking advisers’ views, through an online survey, on the use of AI to access the firm’s research as part of the advice process. The company had noted that many advisers were experimenting with AI tools such as ChatGPT, Claude, Marloo, Microsoft Copilot, Gemini, Grok, and more (see: Connecting Research Tools to Advisers Preferred AI).
But it seems the jury is still out on just how effective these fast-evolving tools are in enhancing a practice’s bottom line.
Our poll remains open for another week and we are keen to learn your views…