“As the technology becomes more affordable, its adoption could scale, but significant hurdles remain for time-strapped wealth management firms,” he noted.

He explained that these wealth management firms, often led by practitioners balancing client work with business operations, face additional pressure to navigate emerging technologies. “They’re hearing both success stories and cautionary tales about AI. Which direction will they go?”

Multiply chief technology officer (CTO) Mike Curtis warned advisers that exposing AI tools directly to customers adds regulatory challenges, noting that the financial advice sector faces unique risks in adopting AI. “The risk of recommending unsuitable investments is significant. Regulators are rightfully sensitive,” he said.

However, Curtis also pointed to AI’s potential to alleviate pressure from Consumer Duty, which demands higher standards in servicing clients. “AI can help scale advice delivery, but the industry must ensure safety nets are in place,” he added.

Gradient Labs CTO and co-founder Neal Lathia warned advisers against rushing adoption. “Every tech breakthrough reshapes industries, but mistakes can lead to regression,” he said. “The financial advice sector must learn from past innovations, like robo-advice, and focus on building robust, compliant systems.”

“AI agents—software systems designed to act autonomously toward specific goals—are becoming integral in bridging gaps between advisers and clients,” Madlani said.

He explained the core principles of AI agents: autonomy, goal focus, and environmental interaction.

However, Lathia said that whilst AI agents can mimic human behaviours, “they remain limited by their programming”.

“AI agents could be factually correct but still fail to meet fintech’s specific regulatory standards. Financial advice, for now, is out of bounds for AI agents,” he warned.