AI tops list of financial adviser concerns — but adoption remains low

London, 29 July 2025  

New research by Unbiased, the UK’s leading financial advice platform, reveals that financial advisers see artificial intelligence (AI) as both the biggest challenge and one of the biggest opportunities facing the industry — yet most are still not using it. 

When asked to identify the top upcoming challenge for the profession, AI and automation came out on top (29%) — ranking ahead of rising business costs (16%) and client acquisition and retention (13%). 

At the same time, more than half (56%) of respondents believe AI has the potential to support their business in future — suggesting that advisers are both alert to the risks and open to the possibilities AI presents. 

Adoption still trails recognition 

Despite this belief in AI’s future relevance, most advisers have yet to adopt it. Just 39% of those surveyed say they are currently using AI in any form within their business — meaning nearly two-thirds (61%) are not using it at all. 

For those who are using AI, most applications remain behind the scenes. Administration and back-office tasks were the most common use case (36%), followed by client communication (14%) and financial planning or reporting (12%). Only 5% are currently using AI for lead generation. 

Future potential focused on growth, not just efficiency 

The research also shows a shift in how advisers view AI’s future role. While administration remains the most cited area of potential (19%), advisers also see growing opportunities across marketing (15%), financial planning (12%), lead generation (12%) and sales and prospect nurturing (11%). 

This points to an evolution in mindset — from AI as a back-office support tool to something that could influence how advice businesses grow and serve their clients. 

Matt Cockayne, Chief Revenue Officer at Unbiased, said: 

“AI is moving fast — and financial advice firms that don’t engage with it risk falling behind. 

“Right now, most use cases are focused on back-office efficiency, but the real opportunity lies in how AI can improve client engagement and drive business growth as a multiplying factor. 

“There’s clearly an appetite for innovation, but also hesitation — especially in a profession built on trust and human relationships. That’s why adoption depends on building tools that advisers find intuitive, compliant, and genuinely useful in practice.”