Aidan: Good morning Mark. Let’s start with looking at how AI is becoming part of everyday life and increasingly part of financial services. How do you see it changing the advice process?
Mark: I think AI will become a valuable tool for advisers, particularly when it comes to gathering, organising and analysing information. Much of the information advisers rely on today already exists online or within internal systems. AI can help bring that information together more quickly and present it in a structured way.
We are already seeing significant adoption across the industry. A 2026 study by KPMG* found that 83% of managers in UK wealth and asset management are using AI for research summarisation. That statistic tells an important story in how AI is proving very effective at helping professionals process information more efficiently. In an environment shaped by changing tax rules, increased transparency requirements and greater cross-border complexity, that capability is valuable.
However, access to information is not the same as advice.
The real value advisers provide is not finding information. It is understanding what matters, identifying risks and opportunities, interpreting how different factors interact and helping clients make informed decisions. AI can support that process, but it cannot replace it.
One of the things that AI does not have is client experience. Advisers do not approach client situations with a blank sheet of paper. They bring years of technical expertise and knowledge gained from working through similar cases before. They understand the challenges that real clients face, the solutions that have worked in practice and the potential pitfalls that may not be obvious from legislation or technical guidance alone.
Just as importantly, advisers know their clients on a personal level from relationships built up often over many years. They understand their family circumstances, objectives, concerns and long-term plans. That context matters. Two clients may be presented with exactly the same information but require very different recommendations. AI can provide information, but it does not have the benefit of an established relationship or a deep understanding of the individual sitting across the table.
Aidan: Some people think that AI could eventually replace advisers. Do you see that happening?
Mark: I don’t have a crystal ball unfortunately but no I don’t think this will happen. We talked about it a little in the question above and really it comes down to the fact that financial planning is ultimately about people, not information.
In fact, the available evidence suggests clients recognise that distinction. While consumers are increasingly willing to use AI to access financial information, research referenced by BlackRock** found that only 26% would be comfortable allowing AI to manage their investments. That does not surprise me.
Most clients are not looking for someone to simply tell them the rules. Where and how to invest their money is an important choice and they want confidence that the right decisions are being made for their circumstances. They want somebody who understands their family situation, their business interests, their long-term goals and often their concerns and uncertainties.
The more complex a client’s affairs become, the more important professional judgement becomes.
An AI tool may be able to explain a tax rule, identify changes in legislation or summarise a technical paper. This is a brilliant addition to the adviser’s toolkit. But it cannot take responsibility for a recommendation, implement a strategy or stand behind that advice over time.
Clients will always look for someone they trust to help them navigate uncertainty.
Aidan: Where do you think AI could add the most value for advisers in practice?
Mark: Right now, the biggest opportunity is productivity.
Speaking to some of the key advisers we work with in Utmost, much of an adviser’s day can be consumed by research, document review, prep work and administration. AI has the potential to streamline many of those activities, freeing up valuable capacity.
For example, it can help advisers quickly compare changes across tax regimes, review legislation, summarise technical guidance or identify information gaps during fact-finding.
That allows advisers to spend more time on higher-value conversations with clients thereby enabling them to provide a more constructive service and, potentially, to support an expanded client-base.
I often compare AI to having an extremely capable research assistant. It can gather information quickly and present it in a useful format, but the adviser still needs to assess its relevance and take a view with all the facts on what action should be taken.
The quality of the outcome still depends on the quality of the professional using the tool.
Aidan: Are there areas where human involvement will remain essential?
Mark: Absolutely. When clients are making major decisions about succession planning, retirement, international wealth structuring or intergenerational wealth transfer, there is rarely a simple answer or, indeed, one ‘correct’ answer. Different options can have different consequences from legal, tax, family and practical perspectives and will very much depend on an individual’s priorities and aspirations.
That is where experienced advisers add value.
They understand nuance. They ask questions clients may not have considered. They balance competing priorities. They help clients make decisions that are appropriate not just today but over the long term.
Technology can support those discussions, but it cannot replace professional judgement.
Aidan: If you were advising clients today, how would you approach the rise of AI?
Mark: I would embrace it, but with clear boundaries.
If I were advising clients today, I would absolutely incorporate AI as another string to my bow. I would use it to accelerate research, identify relevant planning considerations, summarise large amounts of technical information and help me prepare more effectively for client meetings.
As an adviser, I would always verify the information, apply it to the client’s specific circumstances and take responsibility for the recommendation as what I could never do is outsource judgement.
Clients are not paying for access to information. Increasingly, they can get information themselves – AI itself is a great democratiser of this. They are paying for expertise, interpretation and confidence with the adviser remaining accountable for the outcome.
In many ways, I think AI will make good advisers even more valuable. As information becomes easier to access, the differentiator becomes the ability to interpret it correctly and apply it effectively.
Aidan: Looking ahead, what do you think the future relationship between AI and advisers looks like?
Mark: I think it becomes a partnership rather than a replacement.
Over the next decade, clients will increasingly expect advisers to use technology to improve efficiency and access better insights. This will be important in an increasingly complex wealth planning environment given the rising international mobility, evolving tax regimes and greater regulatory transparency that is becoming more prevalent.
That combination makes professional advice more important.
The future belongs to advisers who can combine technology with technical expertise, sound judgement and strong client relationships. AI will help advisers work smarter, but trusted human advice will remain at the centre of the client experience.
Ultimately, AI will change how advice is delivered, but not why clients seek advice in the first place. People still want reassurance and confidence when making important financial decisions.
The winners will not be just one of AI or advisers. It will be advisers who know how to use AI effectively while continuing to provide the insight, context and trust that clients cannot get from technology alone.
*Assets.KPMG.com: State of AI in UK Wealth and Asset Management Survey Results
** Blackrock.com: 3 ways AI accelerates advisor growth and scale by Jim Retinsky