Financial Planning’s Post

AI dominated wealth management conversations this year, but many firms are taking a cautious approach. Managing Director Scott Lamont shared his insights with Financial Planning on two key topics: 💡 How asset managers are treading carefully with AI adoption 💡Why advisors need stronger compliance frameworks for AI tools Read Rub Burgess's recap the top #AI stories of 2024: https://lnkd.in/eMf4XvGp #wealthmanagement #wealthtech #fintech

I’m excited to share insights from our new white paper, 'The Future of Wealth is Here.' Did you know that 86% of Canadian wealth management executives agree that streamlining and automating advisor workflows is a core priority? With the generational wealth transfer underway, this is even more apparent, driving the need to improve client engagement and increase productivity. One way to achieve this: AI. Explore additional strategies to thrive in this evolving landscape. #wealthmanagement #wealthtech #fintech #financialadvisor #ai

Practical AI innovation is aggressively progressing in wealth management, including its adoption by financial advisors (FAs). This progress is evident in a diverse array of applications, from client engagement and portfolio management to operational efficiency and risk compliance, marking a transformative era for the entire sector. Even in this uncertain and complex world, where developing and executing a strategy can be challenging, the future is already arriving for early adopters who have made initial investments with predictive and generative capabilities. Read Reference Point’s insights on prioritizing pivotal AI use cases in wealth management here: https://lnkd.in/eZqpEEMg #WealthManagement #ArtificialIntelligence

AI is everywhere in finance, but what’s hype, and what’s genuinely transforming the industry? On one hand, AI is driving automation in repetitive tasks, improving fraud detection, and enabling more personalized client experiences. On the other hand, some of the more sensationalized applications, like AI-driven trading without human oversight, still face significant practical and ethical hurdles. For analysts, the key is to identify areas where AI can deliver real results, such as in predictive analytics and customer insights. It’s not about replacing human judgment but augmenting it to make faster, smarter decisions. What’s your view on AI’s role in the financial sector?

AI’s evolution in finance is a fascinating journey.  From its roots in the 1950s to transforming every corner of finance in the 2020s, AI has changed the way the industry works - from enhancing precision in auditing to redefining trading, risk management, and customer service. Today, it’s the powerhouse driving automation, innovation, and efficiency. Interested in learning how AI and Finance grew together to create new frontiers? Read more about this transformative journey in aisight Vol 9: https://lnkd.in/dMasrmdE #AIinFinance #aisightVol9

An excellent of the potential of #AI to transform #WealthManagement is this example of an AI from TIFIN AG highlighting to RBC Wealth Management that a client has had a major change in their life, specifically inheriting circa $1mn. Worth reading the details in this great story by Dan Shaw of Financial Planning #AdviceTech #ArtificialIntelligence

AI Ramblings Rather than replace financial planners, AI will allow them to spend as much as 30% more of their time on "growth-related tasks," such as trying to bring in new clients. #ai #artificialintelligence #artificialintelligenceforbusiness #financialadvisors #financialplanners

Moody’s Ratings' latest report on AI dives into how this technology is revolutionizing financial analysis. From automating investment processes to enhancing risk assessment, AI's impact is undeniable yet comes with its challenges. Learn more about this report here: https://mdy.link/3Tqp5po 📈 #AIInvesting #FinancialInnovation #AlternativeData

Decimal Point Analytics invites you for an upcoming roundtable discussion on " AI-Powered Finance: Transforming Financial Services for the Digital Age." This interactive gathering will explore into how AI is transforming financial practices, driving efficiency, and unlocking opportunities. The discussion will revolve around the following key points: Predictive Powerhouse: Uncover how AI leverages real-time data to significantly improve forecasting accuracy and reliability. Streamlined Efficiency: Discover how AI automates mundane tasks like invoice processing and financial statement analysis, empowering your team to focus on strategic initiatives. Proactive Risk Mitigation: Learn how AI enhances risk detection, compliance adherence, and fraud prevention through continuous transaction monitoring. Data-Driven Decision Making: Gain deeper insights into financial performance and market trends to inform strategic planning and growth. This roundtable offers a unique platform to exchange ideas, share best practices, and address the challenges of implementing AI within your financial and accounting operations. Registration: To participate in this virtual roundtable discussion, please register in advance at- https://lnkd.in/dxjG4VAU Note: In order to maintain the intimate and exclusive nature of this event, we will be extending invitations for registration on an invite basis. #AI #FinTech #ExecutiveRoundtable #DigitalTransformation #FinancialServices #FutureofFinance 

🚀 Ningi COO Jym Brown recently shared his insights at the Beyond the Boardroom event hosted by Pacific Asset Management. Jym discussed the transformative role of technology in financial planning, emphasising the urgent need for integrated, client-focused solutions. 🔗 Dive deeper into his views by reading his latest essay; "The Evolution of Adviser Technology". https://lnkd.in/egHa9Ja5 Discover how AI and automation are setting the stage for a new era in financial advice. #FinancialAdvice #FinTech #Innovation #AI #Automation #Ningi