AI Wealth Management Tools Gain Ground as 67 Percent of Firms Add Dedicated Tech Budget
A new industry survey found that 67 percent of wealth management firms now include AI as a dedicated line item in their technology budgets, up from 14 percent a year ago. Despite the rapid adoption, 65 percent of firms say they lack clear metrics to measure AI's return on investment. The gap between spending and results is prompting calls for better planning.
Wealth management firms are pouring money into artificial intelligence at a rapid pace, with 67 percent now listing AI as a dedicated technology budget item, up sharply from just 14 percent a year ago, according to a new industry survey.
The surge in AI spending reflects pressure on firms to modernize operations, improve client personalization, and compete with technology-forward rivals. But the same survey found that 65 percent of firms lack defined metrics to measure whether their AI investments are paying off, a gap researchers are calling the "AI gap."
The findings come from a report published in August 2026 that tracks technology adoption across registered investment advisors and larger wealth management institutions. Researchers say the disconnect between spending and measurable results is a common pattern in early-stage technology adoption.
Firms are using AI for a range of tasks, including client prospecting, portfolio design, financial planning, and compliance monitoring. Some are developing what the industry calls a "unified client brain," a data system that consolidates client relationships, holdings, and preferences to enable personalized advice at scale.
The report also found that 98 percent of advisors now include some level of personalization in high-net-worth portfolios, a shift from just a few years ago when customization was considered a premium service.
Industry analysts say firms that define clear success metrics early will be better positioned to capture the efficiency gains AI promises. Those that invest without a measurement framework risk spending heavily without knowing whether the technology is working.
