Advisors see AI as a growth partner, not a replacement

Artificial intelligence may be changing how financial advice gets delivered, but most advisors do not think it will put them out of a job. Instead, they see it as a way to widen their scope of service while doubling down on human skills that clients value most, according to new research from wealthtech firm Advisor360°.

In its 2026 Connected Wealth Report, based on a survey of 300 advisors at RIAs, broker-dealers and banks across the US, 90% of respondents said they do not expect AI to make advisors obsolete over the next decade.

The survey sample included advisors who on average oversee $548 million in client assets, either individually or as part of a team, at firms with a median $65 billion in assets under management.

Among respondents in the Advisor360 Connected Wealth Report, roughly two-thirds agreed the advisor role will remain essential even as responsibilities shift, though about one-fifth anticipate shrinking advisor headcounts at firms as technology absorbs more routine work. Only 8% expect AI to take over most advisor functions.

Raymond James CEO Paul Shoukry has an even more bullish view on the technology, telling attendees at the firm's annual investor conference this week that AI will play a part in addressing the advisor industry's talent gap.

Against that backdrop, 90% of advisors in the Advisor360 survey say they are interested in using AI tools to expand the services they offer. Respondents pointed first to tax planning, model creation, and retirement income planning as areas where AI-enabled tools could let them go deeper without dramatically expanding headcount or back-office complexity.

“Advisors believe AI has the potential to help them do more for clients – not less,” said Jason Quinn, chief operating officer at Advisor360. “Historically, expanding services meant adding headcount or stretching resources thin.”

The report also points to a shift in what advisors think will matter most in attracting and keeping clients. As AI moves deeper into "table stakes" territory, emotional intelligence and empathy topped the list of critical future skill sets at 53%, followed closely by communication and client coaching at 51%. By contrast, only 30% cited investment acumen as the most important differentiator a decade from now, even as they continue to view technical knowledge as table stakes.

Client expectations appear to be driving that pivot. An overwhelming 92% of advisors said investors increasingly expect a more holistic, multi-faceted planning experience that goes beyond portfolio construction and performance. Many respondents linked AI to that demand, describing it as a way to free up time for life-planning conversations, coordination with other professionals and ongoing behavioral coaching.

Read more: Is tech innovation the missing link to financial planning for advisors?

At the same time, the research underscores an undercurrent of angst around existing tech. Nearly three in four advisors in the report said their firm’s technology is outdated or due for an upgrade, and a similar share are not sure they are getting full value from the systems they already have. The top complaints center on a lack of AI-enabled capabilities and limited integration among tools, which leave advisors toggling between applications and rekeying data instead of relying on a single, connected platform.

“In the age of AI, disconnected systems aren’t just inefficient – they’re a growth ceiling for the advisor experience,” Quinn said in the report.

That tension shows up in how advisors are actually using AI today. Many respondents reported leaning on AI for low-risk, repeatable tasks like meeting summaries, CRM updates and routine client communications. But 93% said they still want final say over AI-generated outputs, and only a small minority would be comfortable letting AI rebalance portfolios or execute trades without review.

Regulation and compliance are a major part of advisors' AI trust issues. Less than one-quarter of advisors said they feel very confident their AI tools meet current regulatory and supervisory standards. Many indicated they want clearer guidance from firms and regulators, stronger audit trails, and more transparency into how AI-driven recommendations are produced before they allow automation to play a larger role in client-facing work.