The top three priorities for digital adoption are system integration, cited by 63 % of firms( up from 58 % in 2024), fact finding at 54 %( unchanged from last year), and notetaking and meeting recording at 54 %( down from 57 % last year).
Advisers continue to report frustrations with internal inefficiencies, system limitations, and time and resource constraints, all challenges that digitalisation could help overcome with the right infrastructure and training.
Increasing use of AI
Last year, 46 % of firms said they were exploring AI or planned to adopt it within 12 months, although only one in twenty( 5 %) felt they had sufficient knowledge to capitalise on its opportunities. Twelve months on, 43 % report they’ re now actively using AI within their advice journey, suggesting firms are becoming more comfortable with the opportunities for efficiency it can deliver.
Currently, personalisation and automation are the leading use cases for AI, cited by 53 % of respondents. Data analysis follows as the second most common application, at 28 %. Interestingly, while last year two-fifths( 40 %) of advisers predicted that compliance would become a key area for AI adoption, only 15 % are currently using it for this purpose.
Although there has been progress on using AI within advice, firms believe there is far more to come. Nearly two-thirds( 64 %) of respondents say they would like to use AI more. The four main expected use cases within firms are report writing( 38 %), meeting transcription( 21 %), fact finding( 17 %) and system integration( 16 %).
Video and client engagement
Our research also found that although digital interaction with information is rapidly evolving in other areas of our lives, opportunities for digital engagement within the advice sector remain largely untapped.
While the vast majority of firms( 92 %) now adopt a hybrid advice model, and 41 % operate an even split between virtual and face-to-face meetings, fewer than a quarter( 23 %) of firms are currently offering video content to their clients. However, this looks set to change as 59 % of firms believe educational video content would make their clients’ lives easier, including 39 % of those who currently don’ t use video.
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