Kitces Says AI Adds 2 to 3 Adviser Hours as It Deepens Client Planning
Updated
Updated · PLANADVISER · Oct 20
Kitces Says AI Adds 2 to 3 Adviser Hours as It Deepens Client Planning
2 articles · Updated · PLANADVISER · Oct 20
Summary
Michael Kitces said AI is more likely to deepen financial planning engagements than sharply expand adviser capacity, arguing the technology improves advice quality rather than simply automating work away.
30 to 60 minutes saved on plan preparation can trigger one to three extra hours of client conversations and implementation, he said, supporting higher-value service and possible fee expansion instead of fee compression.
ChatGPT and similar tools are also making clients more engaged, Kitces said, because they arrive with clearer follow-up questions rather than disengaging when they do not understand a plan.
About 100 households is closer to many modern advisers' client loads, Kitces noted, versus hundreds decades ago, arguing past technology waves also pushed firms to serve clients more deeply, not just more broadly.
Five years out, he expects firms that use AI to cut routine admin while strengthening human advice and relationship-building to benefit most.