Technology  

'AI could mean advisers can take on 500 clients'

He added that one of the reasons advisers may not take on a client is because of the amount of assets they hold, but added there were other barriers such as administrative costs, time investment required per client, and infrastructure requirements.

He said AI could help here.

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When it comes to those in support roles which may feel threatened by AI, Gurung claims it frees them up to do more hands-on work. 

He added: “It is really common that people think it may take their jobs, this is what happens with technological advancements. 

“It is about addressing the monotonous parts of the job, paraplanners do not want to be manually typing things into one system from another. 

“A really key point is, a lot of people think when they are using AI it is going to do the entire work for them. But it still requires reviewing because no one knows the client  better than the adviser.”

tara.o'connor@ft.com

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