FPSB Ireland is pleased to share the results of the FPSB Global Artificial Intelligence Research, which highlights the transformative role AI is playing in the financial planning profession. This global study shows that over 75% of financial planners believe AI will enhance their ability to better serve clients. We’re proud to note that responses from CFP® professionals in Ireland were included in this important research.
About the Research
As artificial intelligence becomes an increasingly vital tool across industries, new global research conducted by Financial Planning Standards Board Ltd. (FPSB) and its network of affiliate organisations offers fresh insights into the use and impact of AI in financial planning.
The study surveyed over 6,200 financial planners across 24 territories, including Ireland. The findings show strong adoption of AI, with two-thirds of firms already using or planning to implement AI within the next 12 months.
Financial planners are using AI to streamline data collection, risk profiling, client communications, and more. Overall sentiment is highly positive, with many professionals recognising AI’s potential to improve the quality of advice, reduce service costs, and increase access to financial planning, particularly for underserved communities. However, concerns around data privacy, cybersecurity, and the reliability of AI-generated insights remain.
Key Findings Include:
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Client service enhancement: 78% of planners believe AI will improve their ability to serve clients; 60% say it will improve advice quality.
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Rapid AI adoption: Usage is highest among small and very large firms. Half of all respondents view AI positively, with only 8% expressing concern.
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Cost reduction and accessibility: 59% believe AI will reduce the cost of financial planning, while 60% say it will improve access for underserved populations.
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Practical applications: AI is most commonly used for client communications (41%), data collection (33%), risk profiling (30%), marketing (35%), and onboarding (34%).
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Challenges and risks: 47% cite data privacy and cybersecurity as key concerns; 42% are wary of the accuracy of AI-generated insights.
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Upskilling needs: Nearly half (49%) say they need to strengthen their data analysis and interpretation skills to effectively use AI.
Professional Perspective
Dante De Gori, CFP®, CEO of FPSB, commented:
“We are witnessing a pivotal moment in the financial planning profession as financial planners embrace AI to work smarter, allowing more time to engage in deeper human connection with clients such as navigating difficult conversations that impact financial decision-making and providing clarity and support to stay on track to achieve their life goals.”
About the Survey
The survey was conducted online in late 2024 and included 6,206 CERTIFIED FINANCIAL PLANNER™ professionals and other financial planners across 24 territories: Ireland, Australia, Austria, Brazil, Canada, China, Chinese Taipei, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Malaysia, the Netherlands, New Zealand, Republic of Korea, Singapore, South Africa, Switzerland, Thailand, the United Kingdom, and the United States.
Discover how AI is shaping the future of financial planning, in Ireland and around the world. Access the full Report and the Infographic.
