This study examines how artificial intelligence (AI) is reshaping financial planning and wealth management through the perspectives and practices of Indian financial advisors. Using a mixed-methods approach a nationwide survey of practicing advisors complemented by in-depth interviews we explore adoption levels, the kinds of AI tools being used (for portfolio construction, risk profiling, client communication, and back-office automation), and the perceived effects on service quality, efficiency, and client trust. Results show that while basic AI tools for data analysis and robo-recommendations are widely adopted, more advanced uses (predictive analytics, natural language client assistants) are growing but uneven across firm size and advisor experience. Advisors report improved efficiency and faster decision support, but they also express concerns about explainability, regulatory compliance, and potential erosion of the advisor client relationship. The study highlights a trade-off, AI can enhance personalization and scale advisory services, yet human judgment and relationship management remain crucial for client confidence and ethical decision-making. We conclude with practical recommendations for advisors, firms, and regulators, invest in AI literacy and transparent model governance, design hybrid human-AI workflows that preserve fiduciary duties, and create guidelines to protect client interests while enabling innovation.
AI adoption, financial planning, wealth management, Indian financial advisors, advisor client trust, robo-advisory, explainability, hybrid human-AI workflows
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