AI reshapes wealth advisory as trust, personalisation and succession planning take centre stage

Artificial intelligence is no longer a futuristic concept in wealth management — it’s a transformative force redefining how advisers engage with clients, build trust, and deliver personalised financial guidance. Across regions like the Middle East, Europe, and the UK, AI is reshaping service models and accelerating the evolution of private banking.

Andrew Catterall, Head of Digital and Data Transformation at J.P. Morgan Private Bank, believes AI is not replacing human expertise but enhancing it. “AI is more than a tool — it’s a mindset shift,” he says. “It allows us to respond swiftly, offer real-time tailored advice, and eliminate repetitive tasks so advisers can focus on what truly matters.”

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Trust through technology

In an industry built on relationships, trust remains paramount. AI is now playing a pivotal role in deepening adviser-client connections. Tools like J.P. Morgan’s GenAI-powered LLM Suite enable advisers to simulate market scenarios, automate information delivery, and provide contextual insights during periods of volatility. This transparency helps clients visualise outcomes and prepare for uncertainty — strengthening trust in both the adviser and the institution.

Security is also a key component. AI-powered features such as multi-factor authentication and deepfake detection are setting new benchmarks for data protection and regulatory compliance. “Clients see that technology is used to enhance — not supplant — the relationships we’ve built,” Catterall notes.

Human expertise, reimagined

The rise of generative AI is transforming the role of wealth advisers. With routine tasks automated, advisers are spending more time on strategic conversations and less on administration. “Technology handles the ‘how’, freeing our teams to define the ‘why’,” says Catterall. This shift is enabling advisers to craft portfolios that align more closely with clients’ aspirations, setting new standards for personalised service.

Internally, banks are also rethinking how AI is developed and deployed. J.P. Morgan’s approach involves building proprietary models to maintain control over client data and ensure compliance across jurisdictions. Real-time monitoring and firmwide training ensure that AI tools are used responsibly and effectively.

Regional shifts in wealth conversations

Across the UK, Europe, and the Middle East, client expectations are evolving. Digital capabilities are enabling faster, more informed decision-making, while the themes of diversification, private market access, and succession planning are gaining prominence.

In the Middle East, succession planning has become a central focus. Families are increasingly seeking support to ensure smooth intergenerational wealth transfers and legacy preservation. “We partner with families to support the next generation,” says Catterall, highlighting the growing demand for holistic wealth strategies.

Meanwhile, clients across EMEA are looking for global perspectives to manage risk and seize opportunity. The ability to deliver timely, relevant insights — powered by AI — is becoming a key differentiator in the competitive landscape of private banking.

The future of advisory

As AI continues to evolve, its role in wealth management will deepen. The fusion of human insight and machine intelligence is creating a new paradigm — one where trust, personalisation, and strategic foresight define the client experience.

“Relationships remain at the heart of everything we do,” Catterall concludes. “AI simply helps us do it better.”

Somshankar Bandyopadhyay

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somshankar@khaleejtimes.com

Somshankar Bandyopadhyay is a News Editor with close to three decades of experience. Currently, he manages the business section, ensuring that the top economic and business news of the day reaches its readers.