Technology News from Financial Planning

Speakers on an "AI & Compliance" panel at Financial Planning's ADVISE AI conference say advisors can use existing basic compliance principles to make sure their AI use doesn't step on any regulatory landmines.

Financial advisors know how to guide clients through volatility, but the math displaying the portfolio risks of AI may present an altogether different challenge.

It isn't just the data itself that firms should be focused on, panelists at ADVISE AI said, but how that data is connected and how relevant it still is.

The Oasis Group CEO and founder John O'Connell dazzled his audience at ADVISE AI by showing how artificial intelligence can shave hours off the production of plans, stock analyses, even web pages. But at least one advisor remains skeptical.

During the opening session of Financial Planning's second annual ADVISE AI Conference, the chief financial planning nerd at Kitces.com took stock of where advisors are, and aren't, adopting the technology in their practices.

The increased sophistication that cyber attackers are getting from technology requires more frequent updates to cybersecurity defenses, according to cyber insurance experts.

The choice of buyer and the price get the most attention, but a possible merger of equals and the technology side of the transition could loom large in the strategy.

Even with all the advancements in artificial intelligence in the past few years, Financial Planning's new research shows human connection remains at the center of advisors' work.

The SEC hasn't put forward a new rule for advisors' use of AI since dropping a proposal earlier this year. Is the lack of regulation hindering innovation?

As Financial Planning's AI Readiness Survey showed, most advisors aren't concerned about their own jobs. But others aren't so sure.

Drew Lunt, founder of Scratch Capital in Boise, Idaho, still uses Black Diamond for his portfolio accounting needs, but as his client base expands to more affluent, complicated clients, he has looked outside the industry for solutions.

New AI tools are often added to existing tech without fanfare, meaning that advisors who don't want to use them are forced to scour for ways to turn them off.

Allowing artificial intelligence to make investment management decisions poses an organizational threat, according to the majority of advisors in Financial Planning's AI Readiness Survey.

Some financial advisors may still hesitate to get on LinkedIn, Facebook, Instagram, YouTube or TikTok. But experts say growing firms need to be on the social platforms.

Wealth management firms are rapidly adopting artificial intelligence to grow their businesses and reduce time spent on administrative work. Amid the AI boom, firms say education has become their top priority.

Financial Planning's AI Readiness Survey found that advisors are already using AI for creating legal document summaries and seeing results, but legal experts warn that undisclosed, unmonitored use could open firms up to liability.

Replacing outmoded wealthtech products and practices can not only save advisors time and effort but also boost a firm's bottom line.

Financial Planning's second annual ADVISE AI conference, taking place Oct. 28-29 in Las Vegas, will delve into how the emerging technology continues to revolutionize the industry.

Co-founded by four Orion veterans, new wealthtech startup Hamachi.ai seeks to embed AI-powered compliance into client communications.

For a newly launched RIA, its website is one area in which less can be more — but only if the firm's online HQ puts the right visitors on the path to conversion.