This Week in Brief

UK adviser AI adoption keeps climbing — now 74%, up from 43% a year ago — but this week’s news is as much about caution as progress. A new op-ed on the FCA’s Mills Review argues for AI-plus-human advice rather than AI replacing planners, while fresh research on both sides of the Atlantic is a reminder that AI outputs still need a human check before they reach a client.

Key Developments

AI Adoption Hits 74%, But the Biggest Use Case Is Still Admin

Intelliflo’s annual survey found AI use among UK advisers jumped from 43% to 74% in the past year. Note-taking and transcription remain the most common use (87% of AI users), followed by report writing (44%). Useful context for any firm still weighing up whether to start: most of the market already has. (IFA Magazine, September 2026)

Update: The Case for AI-Plus-Human Advice Under the Mills Review

Following last week’s look at what the Mills Review means in practice, FT Adviser published a fresh op-ed from technology commentator Chris Davies arguing the review points towards a hybrid model — AI improving access to guidance while qualified planners keep the judgement calls machines can’t yet make. The review’s recommendations include a “trusted public-interest AI capability service”, with its findings expected to feed directly into the ongoing advice-guidance boundary reforms. (FT Adviser, 17 September 2026)

Warning: AI Models Get Financial Questions Wrong More Than Half the Time

Research from Saturn, reported by Professional Adviser, found AI models answered financial questions incorrectly 57% of the time on average, with the worst-performing model wrong 82% of the time. Saturn warned that acting on incorrect AI guidance could cost consumers “tens of thousands of pounds” — a useful data point for any firm relying on AI outputs without a review step. (Professional Adviser, 14 September 2026)

Consumers Trust AI With Money Decisions More Than They Can Judge It

New Defaqto/Savanta research found six in ten consumers now use AI to help with financial decisions — more than go direct to a provider or adviser — yet 62% say they don’t have enough information to judge whether the AI’s guidance is actually right. Defaqto likened it to a gold rush: real answers and confidently wrong ones can look identical to the untrained eye. (Professional Adviser, 17 September 2026)

From the Trade Press

  • Marloo launches “Ask Marloo” to search across an adviser’s whole client book — the tool surfaces stale follow-ups, clients affected by market moves, and inherited-client context from meeting notes and emails. FT Adviser, 16 September 2026
  • Anthropic rolls out Claude for Financial Advisors in the US — ready-made workflows for meeting prep, CRM updates and compliance checks, with custodian connectors including Schwab, BlackRock and Vanguard. Commentator Ian McKenna cautions UK firms to check where any data is stored until a UK-specific version arrives. Professional Adviser, 15 September 2026

What to Watch

The FCA has said it will publish practical guidance by the end of 2026 on how existing consumer-protection rules apply to AI, and on the level of assurance expected from senior managers under SM&CR when AI causes client harm. Worth watching for any firm building AI into client-facing processes now, ahead of that guidance landing.

Sources: FT Adviser, Professional Adviser, web search. Compiled 18 September 2026.