How AI is revolutionizing financial planning : Report
As artificial intelligence (AI) rapidly becomes an invaluable tool, FPSB India, the Indian subsidiary of the Financial Planning Standards Board Ltd., shared the global research report titled “How AI is Reshaping the Financial Planning Profession.”
image for illustrative purpose
Mumbai, May 08: As artificial intelligence (AI) rapidly becomes an invaluable tool, FPSB India, the Indian subsidiary of the Financial Planning Standards Board Ltd., shared the global research report titled “How AI is Reshaping the Financial Planning Profession.” The research reveals insights into the use and impact of AI in financial planning, with two in three financial planners reporting that their firms are already using AI or planning to adopt it within the next 12 months. FPSB conducted the study by surveying over 6,200 financial planners across 24 territories worldwide, in collaboration with its global network of organizations.
The research revealed that AI uptake has been strong, with financial planners using AI to streamline client data collection, risk profiling, and communications. Respondents were generally optimistic about the potential of AI to enhance the quality of financial planning advice, reduce costs and broaden access to financial planning for underserved populations. Despite the positive outlook, financial planners recognize the risks associated with the use of AI, citing data privacy and cybersecurity as top risks.
Speaking about the report, Krishan Mishra, CEO, FPSB India said, “As India’s financial ecosystem rapidly transforms, AI offers CFP® professionals in India a unique opportunity to close the financial consulting gap—making financial planning more efficient, scalable, and inclusive. This global research reinforces our belief that when technology is integrated with the human-centric approach and empathy, and ethical commitment of CFP® professionals, it can lead to truly transformative client outcomes.”
“With financial planners recognizing AI’s potential to lower costs and believing it will expand access to underserved communities, AI is paving the way for more affordable financial advice. This technology is not just reshaping the practice of financial planning but may also open doors for those who have historically lacked access to critical financial services,” said FPSB CEO Dante De Gori, CFP.
