AI adoption among independent RIAs is accelerating rapidly, but most firms remain in the early phases of implementation, according to a new study.
The research, conducted in late 2025 with 533 RIAs, found that 63% of firms now use AI in some capacity. That figure represents more than double the adoption rate reported just two years earlier, underscoring how quickly AI tools have entered advisory firm operations.
However, widespread use does not yet equate to deep integration. The research from Schwab Advisor Services found that only about one in ten firms report that AI is embedded into their core business strategy. For most advisors, current applications remain tactical such as handling administrative work such as meeting notes, email drafting, and basic workflow support, rather than driving major strategic transformation.
“AI is here, and adoption matters,” said Lisa Salvi, Head of Business Consulting and Education at Schwab Advisor Services. “Firms that set a clear vision and invest in upskilling their talent and building strong data foundations will be better positioned to turn AI from a curiosity into a huge competitive advantage.”
The study also points to a growing divide between early adopters and firms still testing the waters. Advisors who have moved beyond experimentation report tangible benefits, including time savings, smoother internal processes, and faster preparation for client meetings. Meanwhile, firms in pilot mode are still working through data readiness, compliance considerations, and staff training.
Looking ahead, confidence in AI’s role in wealth management continues to build with almost 60% of surveyed firms expecting the technology to influence client relationships within the next year, while more than two thirds anticipate it will significantly reshape advisory practices within the next three years.
To support firms navigating this shift, Schwab has launched Schwab Advisor AI in Action, a program designed to provide education, peer collaboration, and practical resources to help advisors move from basic adoption toward meaningful implementation.
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