Quilter has begun the process of launching artificial intelligence (AI) tools to its financial advisers, with further tools expected over the next 18 months, according to the wealth manager and Financial Planner’s annual report.
Stephen Levin, CEO at Quilter, said the wealth manager and Financial Planner sees ‘significant potential’ from integrating AI tools into the advice process.
He said: “The investment we are making in our Advice Transformation Programme (“ATP”) aims to materially improve productivity through enhanced Client Relationship Management systems with integrated support tools, including AI tools.
“ATP will allow advisers to service a larger number of clients and is being rolled out on a phased basis over the next 18 months.”
Quilter has already rolled out an AI solution for its advisers allowing them to record, transcribe, and summarise meetings and actions, which Mr Levin claims is “significantly reducing the time it takes to complete certain administrative tasks.”
He added that the next phase of its ATP will add the capacity for AI to “make recommendations, saving advisers even more time”.
Mr Levin also sees significant benefits of AI tools when it comes to risk management – allowing ‘more effective’ compliance file checking.
He said: “We will ensure Quilter is at the forefront of AI change, while recognising that the pace of adoption is subject to both regulatory oversight and end-client needs.”
Quilter is not the only wealth manager to be working on developing AI tools for its advisers.
St James’s Place listed the use of AI tools for its advisers amongst its key aims for 2026 in its financial report.