Financial planners optimistic about AI's potential

The findings come from a Financial Standards Planning Board (FPSB) survey which Certified Financial Planners in New Zealand contributed to.

FSPB interviewed more than 6,200 CFP professionals globally gathering insight on the current state of AI adoption, its impacts, and the outlook for financial planning and those who work in the profession.

New Zealand advisers surveyed agreed broadly with the results – with 73% saying AI could help them better serve clients, 67% saying it could enhance quality of advice, 64% believed it could reduce the cost of advice and 71% that it could increase access to advice.

The research found that two in three financial planners report their firm is using AI or planning to in the next 12 months.