PLANADVISER - July/August 2018 - 22

trendspotting
Advisers
Begin to
Embrace
Artificial
Intelligence
Will it, as believed,
provide a competitive
edge?
TWO-THIRDS of registered investment
advisers (RIAs) and fee-based advisers
believe artificial intelligence (AI) will
give them a competitive advantage, a
survey by Nationwide Advisory Solutions
found. Among the 33% who were
early adopters, 94% believe this is true.
The way advisers are using AI
is transformative, affecting every
dimension of their customer experience,
from attracting a new category
of future clients to offering a new
universe of products and solutions.
AI uses advances in machine
learning, including refined algorithms,
predictive analytics, natural language
processing, and speech and image
recognition to assess big data from
disparate sources, evaluate complex
problems and help advisers make more
accurate decisions. While only 33% of
advisers currently employ AI, 51% plan
to begin or expand use of it in the next
12 months.
Among the early adopters, 88%
began using it, and 84% plan to expand
their use of it, in the next 12 months.
Thirty-seven percent of the early
adopter group project their profitability
will expand substantially this year; by
comparison, only 22% of advisers who
are not using AI say the same. Thirtyfour
percent of the early adopters say
they are optimistic about their financial
outlook for this year, compared
with 26% of the advisers not using AI.
Fifteen percent of the early adopters
manage more than $250 million in
assets, compared with 11% of the
advisers not using AI. In addition, 16%
of the early adopters earn more than
$500,000 a year, compared with 11% of
those not using AI.
Among the investors, advisers and
TALKING POINTS
SRI Yet to Take Off in DC Plans
The market for sustainable, responsible and
impact investments (SRI) reached $8.7 trillion
in 2016. Yet, say estimates, this accounted
for less than 1% of the $7.7 trillion U.S. defined
contribution (DC) retirement market.
Source: ClearPoint Financial Partners LLC
22 | planadviser.com july-august 2018
Art by Sarah Mazzetti
early adopters who believe that AI
will improve the adviser/investor relationship,
all three groups say it will
increase accessibility of financial planning
(46%, 42% and 40%, respectively)
and enable making predictions about
clients' future needs (39%, 38% and
38%). -Lee Barney

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PLANADVISER - July/August 2018

Table of Contents for the Digital Edition of PLANADVISER - July/August 2018

Speaking Their Language
Stretching the Match
Giving Them a Break
Managed Accounts' Value
Principal Transactions
Statute of Limitations
Prohibited Transaction Relief
PLANADVISER - July/August 2018 - C1
PLANADVISER - July/August 2018 - FC1
PLANADVISER - July/August 2018 - FC2
PLANADVISER - July/August 2018 - C2
PLANADVISER - July/August 2018 - 1
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PLANADVISER - July/August 2018 - 40
PLANADVISER - July/August 2018 - 41
PLANADVISER - July/August 2018 - 42
PLANADVISER - July/August 2018 - 43
PLANADVISER - July/August 2018 - Speaking Their Language
PLANADVISER - July/August 2018 - 45
PLANADVISER - July/August 2018 - 46
PLANADVISER - July/August 2018 - 47
PLANADVISER - July/August 2018 - Stretching the Match
PLANADVISER - July/August 2018 - 49
PLANADVISER - July/August 2018 - Giving Them a Break
PLANADVISER - July/August 2018 - 51
PLANADVISER - July/August 2018 - Managed Accounts' Value
PLANADVISER - July/August 2018 - 53
PLANADVISER - July/August 2018 - Principal Transactions
PLANADVISER - July/August 2018 - Statute of Limitations
PLANADVISER - July/August 2018 - Prohibited Transaction Relief
PLANADVISER - July/August 2018 - C3
PLANADVISER - July/August 2018 - C4
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