The Saltus Partnership Programme, a support network for financial planning firms, and L.E.K. Consulting, a global management consultancy, have jointly released the second edition of the Financial Planning Growth Index, revealing that the vast majority of UK financial planning firms do not expect artificial intelligence to reduce their workforce this year.
The survey, which gathered responses from more than 200 senior leaders at UK financial planning firms, found that 70% do not anticipate AI affecting their staffing levels in 2026. While 13% said the technology would curb additional recruitment, just 3% indicated plans to cut existing staff as a result of AI.
When it comes to where AI is expected to deliver value, more than half of respondents (55%) pointed to administrative efficiencies as the most significant potential benefit, while nearly a third (32%) highlighted improvements in financial planning support.
Looking further ahead, over a third of firms (34%) intend to upgrade existing systems within the next one to three years, and 26% plan to build out dedicated AI capabilities. A further 24% are planning to introduce new financial planning tools, a figure that climbs to 30% among firms managing assets under management below £20m.
On the broader role of technology, more than a quarter of respondents (26%) believe technological advancement will meaningfully reshape the industry within three to five years. This marks a modest rise from the 21% who held that view when the index was last conducted in November 2024.
Saltus Partnership Programme head of relationship management Nick Heath said, “It’s significant that 70% of firms say AI won’t affect their headcount – this technology is about empowering people, not replacing them. As AI continues to evolve, it’s unlocking opportunities for firms to tackle key challenges and drive efficiency, from administrative tasks, to planning support or reducing risk within investment portfolios.
“The Saltus Partnership Programme provides access to technology, alongside dedicated support and specialist expertise, to help firms navigate this transition and deliver better outcomes for both their business and clients.”
L.E.K. Consulting partner Bronswe Cheung said, “As AI adoption accelerates, firms must adapt in order to remain competitive. The data shows that firms not only recognise the immense possibilities of AI, but are also clear on how they stand to benefit.”
“The adoption of AI must be accompanied with a re-invention in the operating model to realise the true benefit.”
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