Dave Mason

And my reflections on the industry as a whole is wealth management.

uh in particular is i think it's quite has always had an interesting relationship with technology i think with the wealth sector is generally very slow to adopt technology it's often peppered with a lot of legacy technology it has can be really complicated to clients it's a retail business so there's a reason for that uh complexity but in the world of ai i've never seen a technology move so quickly through the wealth sector as ai and i know a lot of people listening to this go here we go again someone else banging on about ai um but i'm as much a i'm a

I enjoy technology, obviously, because of my background, but I'm equally a skeptic of what it can deliver.

But genuinely, I think some of the AI tools that can now be used, particularly in that advice space to support an advisor, are actually very mature now and working really well.

We touched on earlier in some of the discussions about having this golden time with clients, and we've really seen very successful use cases of AI to deliver.

support an advisor both before, during, and after a meeting, automating that process of getting notes for a meeting into a suitability report and recommendation.

We've always had conversations around how compliance and quality assurance is done on a sample checking basis.

If you're a very well-qualified advisor, you get a lower percentage.

If you're new to the business, you get a higher percentage of checking.

Now, AI tools can do 100% of that checking.

You always have a human in the loop, of course.

So that's how you manage the risk to make sure that it's doing things in the right way that you need it to.

But it really has transformed the way that advice piece can be delivered now.

So bigger firms are able to adopt and invest in that technology.

Some tools can be bought off the shelf, but equally firms that are actually firms of all sizes now are starting to invest in building their own tech on AI.

So it really is maturing very rapidly.

So I think that's an opportunity and also an ability to manage the risk more effectively.

Great.

Yeah, totally agree.

Of course, SAI, who sponsored the report, which is quite for them, is obviously that's the market they're in.