AI can support advice, but only if strategy comes first.

Our recent coverage in FT Adviser has put a timely question back on the table for advice firms. Could digital tools and AI help close the advice gap, or could they widen it if firms get the strategy wrong?

In his latest article for FT Adviser, our COO Andy Wealthall argues that technology should not be seen as the strategy in itself. It should support a strategy that is already clear because that distinction matters. Click here to read the article for yourself.

Across the advice sector, firms are under pressure to do more with less. Adviser capacity is tight, client expectations are rising and the need for consistent service under Consumer Duty is only increasing. In that environment, the appeal of AI is obvious. Used well, it can reduce administrative strain, improve consistency and free advisers to focus on the conversations that matter most.

But technology on its own does not solve the underlying issue.

At Enhance, we believe firms need to be clear on three things before digital tools can deliver meaningful value. First, who are you trying to serve? Second, what level of support does each client segment actually need? Third, where is adviser time delivering the greatest value to the business and to clients?

Without that clarity, firms risk using technology to speed up a service model that is already under strain. That may improve output in the short term, but it does not fix the deeper issue of how clients are segmented, supported and served.

This is why this article matters as it is a reminder that best results come when technology is used to strengthen a service model, not define it.

For some firms, that will mean using AI to remove repetitive tasks, improve documentation and support more consistent communications. For others, it will also mean taking a harder look at client segmentation and asking whether the same adviser-led model should apply across the whole client bank.

That is where the advice gap conversation becomes more practical. If firms want to improve access, protect adviser time, really look after clients and maintain strong outcomes, they need more than digital tools. They need a structure that supports different levels of client needs in a way that is both sustainable and compliant.

From an Enhance perspective, this is a familiar challenge. We see every day how much pressure advice firms are under to balance growth, service and capacity. Technology can absolutely support that, but only when the strategic groundwork is in place first.

Andy’s full article in FT Adviser explores this in more detail, including where AI can genuinely improve productivity and where firms need to be more cautious.

You can read the full article here.