Adapting to AI: Richard Meek Shares Insights in Citywire New Model Adviser
Whether we like it or not, AI is everywhere. It’s driving innovation and reshaping industries, and as a result businesses are learning to adapt, and evolve in a number of ways. Madeleine Anderson of Citywire New Model Adviser recently explored how AI is seeping into the world of financial advice, particularly in how it’s changing the ways clients communicate with their planners.
Colmore Partners Director, Richard Meek, was featured in the article, sharing his perspective on what the AI boom means for businesses and offering his take on its rapid rise.
Understandably, new technology is often approached with caution. However, as times change, adapting becomes essential, and so Richard highlights the benefits AI has been bringing to Colmore Partners.
He notes how AI tools are helping to overcome “question shyness”, allowing clients to ask basic questions via chatbots that they might otherwise feel hesitant or embarrassed to raise with a planner. In turn, clients are quietly building their confidence with key financial planning concepts.
There’s been other instances where AI has played a role in directing clients towards professional advice. Richard recalls a current client who was initially unsure about the type of guidance he needed. After asking an AI chatbot a couple questions, he was advised to seek a financial planner, ultimately leading him to us!
AI isn’t slowing down anytime soon and this article offers a balanced view of the opportunities and challenges advisers face as it continues to evolve. It’s a highly worthwhile read for anyone interested in financial planning and the future of the industry.
You can read the full article here.
Colmore Partners is an Appointed Representative of Best Practice IFA Group Limited which is authorised and regulated by the Financial Conduct Authority, the registration number is 223112.
This article does not constitute tax, legal or financial advice and should not be relied upon as such. Tax treatment depends on the individual circumstances of each client and may be subject to change in the future. For guidance, seek professional advice.