Assessing the Impact of AI on Financial Planning and Wealth Management A Study of Indian Financial Advisors

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. Praveen Kumar | Dr. Nilmani Tripathi | Ashutosh Kumar Gautam "Assessing the Impact of AI on Financial Planning and Wealth Management: A Study of Indian Financial Advisors" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-9 | Issue-6 , December 2025, URL: https://www.ijtsrd.com/papers/ijtsrd99889.pdf Paper URL: https://www.ijtsrd.com/management/other/99889/assessing-the-impact-of-ai-on-financial-planning-and-wealth-management-a-study-of-indian-financial-advisors/praveen-kumar