AI in Financial Planning: Who’s Using It - and Who’s Not?

AI is making waves globally - but is it truly being used in South Africa’s financial planning industry, or just scratching the surface?

We want your insights! This survey uncovers the real state of AI adoption - who’s using it, who isn’t, and why. AI has immense potential if harnessed correctly, but first, we need to understand the reality.

Your responses are anonymous and will help paint a clear picture of AI adoption, challenges, and opportunities. As a participant, you’ll get exclusive early access to the findings and our researched AI tool recommendations to enhance your practice.

Help us separate AI fact from fiction - take the survey today!

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* 1. What is your age group?

20-29

30-39

40-49

50-59

60+

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* 2. What is your highest level of education?

Diploma

Bachelor's Degree

Postgraduate Degree

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* 3. Do you hold a Professional Certification?

Yes

Please specify your Professional Certification, i.e.; CFP, CA(SA), other:

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* 4. What type of financial planning firm do you work for?

Independent financial advisor (IFA)

Small financial planning firm (1-10 employees)

Medium-sized firm (11-50 employees)

Large financial institution (50+ employees)

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* 5. Have you or your firm adopted AI-based tools in financial planning?

Yes

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* 6. If yes, which AI applications do you use? (Select all that apply)

Robo-advisors

ChatGPT

Microsoft Copilot

DeepSeek

Chatbots for client interaction

Other applications (please specify):

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* 7. How frequently do you use AI tools in your daily financial planning activities?

Never

Rarely

Sometimes

Often

Always

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* 8. To what extent do you agree or disagree with the following statements regarding barriers to AI adoption in your firm?

	Strongly disagree	Disagree	Neutral	Agree	Strongly agree
AI implementation is too costly for my firm	AI implementation is too costly for my firm Strongly disagree	AI implementation is too costly for my firm Disagree	AI implementation is too costly for my firm Neutral	AI implementation is too costly for my firm Agree	AI implementation is too costly for my firm Strongly agree
Lack of knowledge and training on AI prevents its adoption	Lack of knowledge and training on AI prevents its adoption Strongly disagree	Lack of knowledge and training on AI prevents its adoption Disagree	Lack of knowledge and training on AI prevents its adoption Neutral	Lack of knowledge and training on AI prevents its adoption Agree	Lack of knowledge and training on AI prevents its adoption Strongly agree
Regulatory and compliance concerns hinder AI adoption	Regulatory and compliance concerns hinder AI adoption Strongly disagree	Regulatory and compliance concerns hinder AI adoption Disagree	Regulatory and compliance concerns hinder AI adoption Neutral	Regulatory and compliance concerns hinder AI adoption Agree	Regulatory and compliance concerns hinder AI adoption Strongly agree
Data privacy and security risks make AI adoption risky	Data privacy and security risks make AI adoption risky Strongly disagree	Data privacy and security risks make AI adoption risky Disagree	Data privacy and security risks make AI adoption risky Neutral	Data privacy and security risks make AI adoption risky Agree	Data privacy and security risks make AI adoption risky Strongly agree
Clients prefer human interaction over AI-driven services	Clients prefer human interaction over AI-driven services Strongly disagree	Clients prefer human interaction over AI-driven services Disagree	Clients prefer human interaction over AI-driven services Neutral	Clients prefer human interaction over AI-driven services Agree	Clients prefer human interaction over AI-driven services Strongly agree
Lack of integration with existing financial planning tools is a challenge	Lack of integration with existing financial planning tools is a challenge Strongly disagree	Lack of integration with existing financial planning tools is a challenge Disagree	Lack of integration with existing financial planning tools is a challenge Neutral	Lack of integration with existing financial planning tools is a challenge Agree	Lack of integration with existing financial planning tools is a challenge Strongly agree

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* 9. To what extent do you agree or disagree with the following statements about the benefits and risks of AI adoption in financial planning?

	Strongly disagree	Disagree	Neutral	Agree	Strongly agree
AI can improve efficiency and productivity in financial planning	AI can improve efficiency and productivity in financial planning Strongly disagree	AI can improve efficiency and productivity in financial planning Disagree	AI can improve efficiency and productivity in financial planning Neutral	AI can improve efficiency and productivity in financial planning Agree	AI can improve efficiency and productivity in financial planning Strongly agree
AI can help reduce operational costs in financial planning	AI can help reduce operational costs in financial planning Strongly disagree	AI can help reduce operational costs in financial planning Disagree	AI can help reduce operational costs in financial planning Neutral	AI can help reduce operational costs in financial planning Agree	AI can help reduce operational costs in financial planning Strongly agree
AI can provide better predictive insights for financial decision-making	AI can provide better predictive insights for financial decision-making Strongly disagree	AI can provide better predictive insights for financial decision-making Disagree	AI can provide better predictive insights for financial decision-making Neutral	AI can provide better predictive insights for financial decision-making Agree	AI can provide better predictive insights for financial decision-making Strongly agree
AI may reduce the need for human financial planners in the future	AI may reduce the need for human financial planners in the future Strongly disagree	AI may reduce the need for human financial planners in the future Disagree	AI may reduce the need for human financial planners in the future Neutral	AI may reduce the need for human financial planners in the future Agree	AI may reduce the need for human financial planners in the future Strongly agree
AI-based recommendations are less trustworthy than human advisors	AI-based recommendations are less trustworthy than human advisors Strongly disagree	AI-based recommendations are less trustworthy than human advisors Disagree	AI-based recommendations are less trustworthy than human advisors Neutral	AI-based recommendations are less trustworthy than human advisors Agree	AI-based recommendations are less trustworthy than human advisors Strongly agree

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* 10. Would you consider adopting AI tools in the next five years?

Yes

Unsure

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* 11. What factors would encourage you to adopt AI in financial planning? (Select all that apply)

Lower implementation costs

Regulatory clarity on AI usage

Improved data security measures

Training and education on AI benefits

Increased client demand for AI-driven services

Other (please specify):

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* 12. How did you hear about the survey?

Email invite

SMS

atWORK training session

atWORK support team

atWORK website

Facebook

Other (please specify):

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* 13. Are you an atWORK user?

Yes

Other (please specify):

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* 14. Please share your details

Name

Contact number