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AI Adoption Grows Among New Zealand Financial Planners Mirroring Global Trends

AI is helping financial planners improve client service, advice quality, and reduce costs globally and in New Zealand. Most firms are adopting AI for communication, data, and risk profiling.

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Executives and strategyFinance
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AI’s Growing Role in Financial Advice: Insights from Global and New Zealand Planners

Artificial intelligence (AI) is steadily influencing financial planning worldwide. A recent study by the Financial Planning Standards Board (FPSB) gathered input from 6,206 financial planners across 24 territories, including New Zealand. The findings reveal that local Certified Financial Planners (CFPs) share similar views on AI’s impact as their global counterparts.

Financial Planners’ Positive Outlook on AI

Most financial planners see AI as a tool that can improve client service and broaden access to advice. Globally, the study found:

  • 78% believe AI will help serve clients better
  • 60% say AI will enhance advice quality
  • 59% expect AI to reduce advice costs
  • 60% think AI will increase access to advice

New Zealand advisers reflect similar optimism:

  • 73% see AI as a way to better serve clients
  • 67% believe AI can improve advice quality
  • 64% say AI could lower costs
  • 71% agree AI might expand access to advice

Two out of three financial planners globally report that their firms are already using AI or plan to within the next year. This pattern holds true in New Zealand as well. Dante De Gori, FPSB’s global chief executive, highlights that AI helps advisers stay competitive and work more efficiently.

Common AI applications include:

  • Client communication (41%)
  • Data collection (33%)
  • Risk profiling (30%)

New Zealand CFPs also apply AI for portfolio management and rebalancing. Additionally, AI supports marketing (35%), client onboarding (34%), and workflow productivity (33%).

Trust in AI is growing among executives too. A recent SAP report shows that 63% of US executives use generative AI daily, and 44% are willing to override their own decisions based on AI insights.

Balancing Opportunities with Caution

Despite enthusiasm, planners remain wary of risks. Key concerns include:

  • Data privacy and cybersecurity
  • Accuracy and reliability of AI outputs
  • Quality of data used
  • Potential loss of human connection

To navigate these challenges, advisers worldwide seek more training in data analysis (49%), best practice guidelines (27%), and ethics in AI use.

Pedro Uria-Recio, chief data and AI officer at CIMB Group, cautioned at GITEX Asia 2025 that rapid change may leave some behind, emphasizing the need for careful adoption.

Growing Local Engagement and Education

Financial Advice New Zealand’s chief executive, Nick Hakes, stresses the importance of linking global insights with local practice. He notes that AI is a major focus among advisers today, with recent conferences offering masterclasses and workshops on practical AI application.

“AI technology is not the future, it’s the present,” said expert Panos Leledakis at the National Adviser Conference in April.

Maintaining the Human Element

Dante De Gori points out that AI adoption allows financial planners to concentrate on deeper client relationships. By automating routine tasks, planners can spend more time supporting clients through critical financial decisions and helping them stay on track toward their goals.

For those in finance seeking to expand their AI skills, exploring specialized AI training can provide practical knowledge and keep you ahead in this evolving environment. Check out targeted courses at Complete AI Training.

To explore more detailed findings, you can view the full FPSB report and infographic online.

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