NextWealth has announced the launch of a new AI Directory, designed to help financial advisers understand how and where to start when choosing an AI tool or partner.
While NextWealth’s prior research found that advisers see AI as a driver for improving data capture and quality, its new report reveals that 55% of advisers surveyed say they are very or somewhat likely to change their AI tools in the next 12 months. Integration depth, delivery and trust will decide which providers firms choose to stick with.
The NextWealth AI directory has been designed to help adviser firms in their AI search and will showcase the profiles of AI providers operating in the advice market.
It will provide clear and comparable information on providers’ offers, looking at categories including compliance monitoring, report generation and meeting notes & summaries.
The directory can also highlight both the technical and commercial realities so advisers know what to expect, with in-depth product overview of areas such as use cases, customisation, pricing and upcoming features.
Starting with an initial overview of 15 AI providers, the directory will be updated on a regular basis to include new entrants and the latest product additions.
Chanelle Paynter, associate research director at NextWealth, said: “Financial advice professionals have been telling us that finding the right AI partner and understanding the various product offerings available can be overwhelming and a complex and time-consuming process, when focus is quite rightly on trying to run their business and support clients.
“Our directory has been designed to help address these common frustrations and save time, reduce risk and offer advisers and providers a clear, independent and detailed view of a rapidly evolving space, enabling them to make informed decisions about the tools and services that are the right fit for them.”
