RIAs are unlocking major time savings with the power of AI. On average, they’re saving 10+ hours per week by using AI to streamline tasks like client meetings and administrative work. This translates to about 500 hours per year, allowing them to serve approximately 20 additional clients annually.¹

But some RIAs might be a bit hesitant to dive into AI—maybe because of the cost, not being sure what the real benefits are, or just not knowing how to get the most out of it. Others might worry it could replace parts of their role or simply don’t trust it yet.

The good news? AI isn’t here to replace you; it’s here to support you. With the right guidance, it can become a powerful tool to help you save time, serve more clients, and even grow your practice. In this article, we’ll explore three levels of AI and their capabilities—from the simplest, low-cost tools to more complex, higher-cost solutions.

First, AI for Quick, Everyday Tasks

Basic or foundational AI tools for RIAs can support essential day-to-day tasks. Options like ChatGPT and Microsoft Copilot are widely accessible, easy to implement, and can deliver immediate productivity benefits. You can visit their websites, enter a question or request (called a prompt), and receive a quick response generated by the AI.

One of the keys to getting the most out of AI tools like Copilot or ChatGPT is providing clear, detailed instructions. This is called prompt engineering, but there’s no actual engineering involved. It’s simply being clear and specific in your request. Think of it like a recent college graduate on their first day at work: smart and capable, but in need of clear direction. Similarly, ChatGPT doesn’t know what to do unless you tell it exactly what you want.

Here are examples of prompt engineering in four foundational AI use cases.

1. Brainstorming Content Topics

   Consistently coming up with fresh topic ideas for new content can be a challenge—especially for busy financial professionals. Whether you’re planning a series of social media posts on retirement planning or organizing a new client seminar, AI can generate a range of creative possibilities in seconds.

   Prompt: “I’m a financial professional who works primarily with Gen X clients. I want to create a series of five LinkedIn posts that educate them about retirement planning in a way that’s engaging and easy to understand. Please suggest five post ideas with brief descriptions, written in a friendly, conversational tone.”

   The Benefit: You can quickly generate a list of timely and relevant ideas that truly resonate—without staring at a blank screen wondering where to start.

2. Enhancing Client Communication

   Once you’ve landed on a topic, the next challenge is writing clear, compelling content—something that’s essential but often time-consuming. AI can help you draft client social media posts, articles, and newsletters with ease.

   Prompt: “I’m a financial professional writing a monthly newsletter for clients in or near retirement. Given the recent market volatility—especially the sharp declines in tech and energy sectors—help me draft a newsletter that explains what’s happening in simple terms, reassures clients about their long-term strategy, and encourages them to stay focused on their goals. Please keep the tone calm, professional, and supportive.”

   The Benefit: The AI tool drafts a polished, professional message that you can send as-is or easily tweak to match your voice.

3. Researching and Simplifying Complex Topics

   When new legislation or tax rules are introduced, understanding and explaining them can be challenging. For example, instead of analyzing and interpreting dense IRS documentation on your own, you can ask AI to simplify it:

   Prompt: “Please review the IRS’s 2025 tax law updates, including changes to standard deductions, tax brackets, and credits. Summarize the key changes in plain language and help me understand which types of clients—such as retirees, high-income earners, or small business owners—might be most affected. I want to be well-prepared to explain these updates clearly in upcoming client meetings.”

   The Benefit: You can stay informed and proactive—without spending hours decoding legal jargon.

4. Creating Highly Personalized Client Experiences

   Today’s clients expect more than just sound financial guidance—they want an experience that feels personal, thoughtful, and human. Leveraging AI to deliver those small, personalized touches—like remembering a milestone or suggesting a gift that reflects their interests—shows clients that you see them as individuals, not just accounts.

   Prompt: “I’m a financial professional with a couple who’ve been long-time clients. They’re in their early 60s, love golf and Italian wine, and their wedding anniversary is coming up. Can you suggest a few thoughtful gift ideas that reflect their interests and feel personal and memorable?”

   Result: You can deepen client relationships with thoughtful, personal touches—without racking your brain for inspiration.

How much does it cost?

Tools like ChatGPT and Microsoft Copilot, which perform the tasks shown in the examples, offer free versions. But for as little as $20–$30 per month, you can access more advanced features and capabilities.

While foundational AI tools can help with day-to-day tasks, there are more advanced AI options designed to improve how you engage with clients during and after meetings.

Second, AI Note-Taking Tools for Financial Professionals

A step beyond foundational AI, these productivity tools are built specifically for financial professionals—especially RIAs, wealth managers, and financial planners. Often referred to as AI note-takers or meeting assistants, they do far more than capture notes. They help you efficiently prepare for, document, and follow up on client interactions with greater accuracy and efficiency.

Key Benefits of AI-Powered Note-Taking Tools

For meetings:

• Meeting Preparation: Automatically generate agendas and talking points using Customer Relationship Management (CRM) and calendar data

• Automated Follow-Ups: Identify meeting action items and draft personalized follow-up emails

• Workflow Automation: Route tasks into CRMs, trigger reminders, schedule meetings, and generate client-ready summaries—saving time and reducing errors Team Collaboration: Share meeting notes and tasks across teams for coordinated follow-ups and consistent client service

Outside of meetings:

• Form Filling and CRM Updates: Reduce manual data entry by auto-populating forms and syncing updates directly into CRM systems.

• Compliance and Integration: Built with FINRA and SEC regulations in mind, these tools support documentation requirements with timestamped records and integrate with platforms like Redtail, Wealthbox, and Salesforce

How much does it cost?

Note-taking platforms like Jump and Zocks are gaining traction among financial professionals for their ability to streamline client meetings and follow-ups.

Jump focuses on simplifying workflows, with pricing ranging from $75 and $120 per user per month, depending on features and team size. Zocks offers similar capabilities plus enhanced team collaboration and integration. Pricing ranges from $800 to $1,300 per user annually, with enterprise options available. For firms looking to go further—beyond productivity and into strategic transformation—custom AI integration is the next frontier.

Third, Custom AI Integration

For firms ready to take AI to the next level, custom integration offers the most powerful benefits that “off-the-shelf” products can’t. By connecting advanced AI—like ChatGPT—to your existing systems (CRM, email, and planning software), you can create AI-driven processes that reflect your firm’s unique goals, client needs, and compliance requirements.

What Customized AI Integration Can Do:

Spot Opportunities Automatically

• Identify clients who may benefit from additional services like tax strategies, estate planning, Roth conversions, etc.

• Give reminders about clients’ birthdays, anniversaries, or retirement milestones

• Detect when a satisfied client may be open to making a referral

• Stay Ahead of Compliance and Client Needs

• Flag unusual activity like frequent withdrawals or spending changes Alert you to missing documents or overdue follow-ups

• Recognize mentions of major life events—like divorce or job loss—that may require plan updates

Deliver Personalized Outreach

• Suggest check-ins based on life changes (e.g., new job or home)

• Recommend articles or updates tailored to client interests

• Summarize recent conversations and offer talking points for upcoming meetings

This creates a smarter, more responsive service model—one that helps you anticipate client needs, personalize every interaction, and operate with greater precision. And because it’s built around your systems and workflows, it scales with your business.

How much does it cost?

Pricing varies depending on scope and complexity. Some firms build these solutions in-house; others partner with tech consultants who specialize in designing AI-powered workflows for RIAs. Either way, these systems can deliver serious ROI by enabling your team to operate with a level of precision and efficiency that’s hard to match.

“My Clients Want a Relationship, not a Robot.”

That’s true! You’re in a relationship-oriented business, and clients value the personal connection they have with you. AI isn’t here to replace that. Its role is to take on tasks that often consume valuable time, giving your team more bandwidth to focus on complex, high-value activities—like being fully present with your clients.

By adopting AI, you gain more time and energy for personal, face-to-face interactions.The result may seem counterintuitive: your clients won’t be working with a robot, but with an RIA who’s more available, attentive, and human than ever.

AI That Supports You—Not Replaces You

AI isn’t just a trend—it’s a practical tool that’s already helping RIAs save hundreds of hours a year, improve client service, and reduce administrative burden. Whether you’re just starting with foundational tools like ChatGPT or considering advanced integrations tailored to your firm, the key is to start small, stay curious, and build confidence over time. With the right approach, AI can become a trusted partner in your practice—not a replacement, but a resource that empowers you to do more of what matters most.