68% of Advisory Firms Now Use AI. The Real Question Is What's Next

We continue to look at AI from several angles. The tasks advisors trust it with, where it falls short in financial planning, and why many advisors believe it will redefine — not replace — their role.

But as AI adoption continues to grow across the industry, the more important question is what advisors can do with it beyond simply saving time.

According to BlackRock, 68% of wealth management firms are already using AI in some capacity. That shows the conversation is quickly moving beyond "Should I use AI?" to "Where can it actually help me grow?"

The report highlights three areas where AI could have a bigger impact on advisor practices: operational efficiency, advanced planning and client acquisition.

The first is familiar. AI can handle meeting notes, CRM updates, follow-ups and other repetitive tasks, giving advisors more capacity. But the more interesting opportunity may be what advisors can do with that capacity.

Chart created with Claude/ Source: Fidelity Wealth Management Pulse Survey

Consider estate planning. It is one of the most widely offered services to high-net-worth clients, but 62% of advisors say it is also one of their most time-intensive. AI tools can analyze trusts and tax documents, model scenarios and identify potential issues — potentially allowing advisors to bring more sophisticated planning conversations to more clients.

That could become particularly valuable as wealth transfers to younger generations. The next generation of clients may need help navigating not just portfolios, but taxes, trusts, family governance and complex wealth-transfer decisions.

AI can also play a role in growth itself. Tools can analyze existing client data to identify the characteristics of an advisor’s most valuable relationships, helping firms target prospects who more closely resemble their ideal clients rather than simply generating more leads.

The takeaway: AI isn’t just a tool for doing today’s work faster. It could help advisors expand the services they offer and become more intentional about the clients they pursue. Click here to read BlackRock’s full report.

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