When I started working in a financial advice firm, I saw firsthand how profoundly financial advice can change lives. Later, moving into adviser tech, I learned how technology reshapes the way that advice can be delivered, expanding what’s possible for firms and their clients.

Now, with AI developing rapidly in our industry, those two worlds are colliding in a way that feels impossible to ignore. More than half of advisers are already using AI tools for meeting notes and summaries. The real change though, is AI moving from experiments to everyday workflow.

That shift is exciting, but it’s also messy. With many tools appearing at once, advisers often tell us they feel both curious and overwhelmed. How do you separate the hype from the genuinely helpful?  How can you use AI in your business? What’s working (or not) for other firms like yours? And what does all of this mean for your clients?

These are the questions that led us to create the AI Lab.

What the AI Lab is really about

The AI Lab is more than a series of events; it’s a growing community grounded in curiosity and shared discovery. Built for and with advisers, it helps firms explore, understand, and apply AI in practical ways.

Here’s how it does that:

• Quarterly live events: Each season, advisers and providers come together to learn from early adopters, share use cases, and explore emerging challenges and successes with peers.
• Practical sharing: Through conversations, firms uncover what works, what doesn’t, and how to make AI meaningful and impactful, not just shiny.
• AI Index tracking: Beyond the meetups, we keep a pulse on how the industry is adopting AI over time with our AI Index, tracking readiness and adoption across advice firms.

A place where research meets real stories, and where the community shapes the direction of AI in financial advice.

Coming soon

One of the most consistent frustrations we’ve heard from advisers is this: “I don’t know where to start when it comes to choosing an AI tool.”

It’s no surprise. Every provider promises to save time, reduce costs, or transform workflows. But it is not always clear how their solution fits into an adviser’s existing tech stack, what the true costs are, or what kind of support is offered. And even when advisers do choose a provider, the market moves so fast that it’s hard to keep up with new entrants or updates.

The NextWealth AI Directory is our response to that. It will:

• Bring together profiles of AI providers in the advice market.
• Map out who is doing what, with clear, comparable information.
• Highlight not just the technology, but the commercial realities, so advisers know what to expect.
• Be updated regularly, so it stays relevant in a market that doesn’t stand still.

It’s designed to save you time, reduce risk, and give you a clearer view of a fast-moving market. Stay tuned for launch details later this year!

Looking ahead

AI is moving quickly, and advisers have a unique opportunity to shape how it’s used in our profession. None of us has all the answers, but by sharing experiences and insights, we can move forward with more confidence and make sure the technology serves both advisers and clients well.

If you’re curious about AI, if you’re experimenting already, or if you just want to understand what’s coming next, the AI Lab is a place for you. Our next event is on 18th November, and we’d love to welcome you. We currently have a few spaces left, so if you’re keen to join or know someone who should be in the room, please get in touch soon.

Chanelle Paynter, Associate Research Director, NextWealth

FAQ: NextWealth AI Lab

What is the NextWealth AI Lab?

The AI Lab is a NextWealth community dedicated to helping wealth management firms explore, understand, and apply AI in practical, real-world ways.

Why did you start the AI Lab?

Our research indicates AI will soon be a given for 100% of clients, improving quality, scalability, and cost-to-serve — widening access to advice. Yet practical use cases are still scarce. The AI Lab brings together leaders and thinkers quarterly to share what’s working right now and where the risks and opportunities lie.

Who is the AI Lab for?

Financial advisers, planners, paraplanners, operations leaders, compliance/risk teams, and providers who want to learn, share use cases, and adopt AI responsibly in advice businesses.

What problems does the AI Lab solve?

It gives firms a clear starting point, a pragmatic way to shortlist tools that fit their tech stack, peer-tested examples of what works, and the discipline to skip “shiny object” experiments – focusing instead on AI use cases that deliver measurable outcomes.

What happens at the quarterly events?

Advisers and providers meet to learn from early adopters, compare workflows, and discuss challenges, successes, and emerging risks/opportunities.

How do I get involved?

Join an upcoming event, share your AI use cases, and register interest in the AI Directory and AI Index, here.

What if I’m just getting started with AI?

You’re in the right place. The AI Lab is designed to help you find a starting point and learn from peers already testing and adopting tools.