At a glance
- AI, she said, should make advisors more productive, freeing them for more client meetings.
- Morningstar research found 80% of advisors now use AI in some form, up from 67% a year earlier.
- For advisors running practices, an 80% adoption rate makes AI a baseline, and the open question is whether the 48% who report efficiency gains translate that into more client meetings.
Racquel Oden, HSBC's US head of wealth, premier and global private banking, whose firm's October survey Wealth Advisor Daily covered, said AI will not replace advisors, InvestmentNews reported.
Oden cited McKinsey data showing about 53 million Americans seeking advice, rising to roughly 75 million by 2030. She told the opening keynote at the Women Advisor Summit in New York City that clients need "true, one-on-one" advice. AI, she said, should make advisors more productive, freeing them for more client meetings.
Morningstar research found 80% of advisors now use AI in some form, up from 67% a year earlier. Of those surveyed, 48% said AI had significantly or moderately improved their efficiency, up from 36%.
For advisors running practices, an 80% adoption rate makes AI a baseline, and the open question is whether the 48% who report efficiency gains translate that into more client meetings.
AI use runs well ahead of reported efficiency gains
Share of advisors surveyed using AI vs. saying it improved efficiency, %, last year vs. now
- Last year
- Now
- Use AI in some form67% → 80%
- Say AI improved efficiency36% → 48%
Show as table
| Item | Last year | Now | Change |
|---|---|---|---|
| Use AI in some form | 67% | 80% | +13% |
| Say AI improved efficiency | 36% | 48% | +12% |
Reported by the Practice management desk from InvestmentNews. Published . Updated Nov 5, 2026 · 6:05 p.m. ET. Corrections