Advisors aiming to strengthen relationships with younger affluent investors may want to enhance their AI knowledge, as a new survey suggests. Conducted by Boosted.ai, the survey found that younger high-net-worth (HNW) individuals are increasingly incorporating AI into their daily lives and expect their financial advisors to do the same.
With 82% of respondents describing themselves as AI-proficient and 56% using it regularly, many are looking for advisors who integrate AI into their services. In fact, 35% of younger HNW individuals would consider leaving their current advisor if they aren’t adopting AI.
As a generational wealth transfer looms, adapting to the preferences of tech-savvy clients becomes critical. However, the survey also reveals concerns about AI, particularly around data security and regulation.
Finsum: This is a huge shift in adoption of this technology and advisors might want to integrate this into their practice for new client adoption.
- AI practice
- ai
- client adoption
- client management
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