FPSB research highlights AI's growing role in advice—local CFPs align with global trends
New Zealand Certified Financial Planners (CFP) have contributed to a major global study released by the Financial Planning Standards Board (FPSB), examining how artificial intelligence (AI) is transforming financial planning.
The research involved insights from 6,206 financial planners across 24 territories, including New Zealand, and revealed strong alignment between Kiwi advisers and their global peers on the opportunities and risks presented by AI.
Planners worldwide optimistic about AI’s Impact
The global results showed that most financial planners are embracing AI’s potential to improve service and access. Key global findings include:
- 78% believe AI will help them better serve clients
- 60% say it will enhance the quality of advice
- 59% believe it will reduce the cost of advice
- 60% think it will increase access to advice
New Zealand advisers closely mirrored these trends:
- 73% said AI could help them better serve clients
- 67% believe it can enhance advice quality
- 64% say it could reduce costs
- 71% agree it could increase access
AI adoption growing across the industry
According to the FPSB survey, two in three financial planners globally reported their firm is either already using AI or plans to within 12 months—a trend reflected in New Zealand.
“This survey provides a valuable snapshot of how financial planning professionals worldwide are leveraging AI to stay competitive, improve work efficiency and better serve clients,” said Dante De Gori (pictured left), FPSB global chief executive.
Globally, AI is primarily being used for client communication (41%), data collection (33%), and risk profiling (30%). In New Zealand, some CFPs have gone further, applying AI to portfolio management and rebalancing.
The technology is also seen to boost marketing (35%), client onboarding (34%), and workflow productivity (33%).
Executive trust in AI is also deepening. While the FPSB survey focused on financial planners, a recent SAP report found that 63% of US executives use generative AI daily, with 44% saying they would override their own decisions based on AI insights.
Risks and education needs highlighted
Despite strong optimism, financial planners remain cautious. Major concerns include:
- Data privacy and cybersecurity
- Accuracy and reliability of AI outputs
- Data quality
- Loss of human touch
To better integrate AI, advisers globally want more training in data analysis (49%), best practice guidance (27%), and ethics in AI use.
While financial planners are largely optimistic, global leaders are urging caution. At GITEX Asia 2025, CIMB Group’s chief data and AI officer, Pedro Uria-Recio, warned: “There is a huge wave of change, and unfortunately, some people might be left behind.”
Local engagement growing through research and events
Financial Advice New Zealand chief executive Nick Hakes (pictured right) said global collaboration is crucial for future-focused planning practices.
“Leveraging adviser-led research to understanding global trends with local application is invaluable for New Zealand’s modern advice practices,” Hakes said. “The opportunity and implication of AI to the whole advice process is top of mind for advisers currently.”
The FANZ boss said the recent National Adviser Conference featured AI-focused masterclasses, workshops, and a mainstage session that showed advisers how to apply AI in practice—not just why it matters.
“As one of our visiting experts Panos Leledakis told our conference delegates in April, AI technology is not the future, it’s the present,” Hakes said.
Human connection still central
FPSB’s De Gori said the profession is entering a pivotal period, where embracing AI helps planners focus on what matters most.
“Now is a pivotal time in the financial planning profession as financial planners embrace AI to work smarter, allowing more time to engage in deeper human connection with clients such as navigating conversations that will impact financial decision-making and providing clarity and support to stay on track to achieve their life goals,” he said.
View the full report and infographic for more information.
