Canadian planners race ahead on AI adoption: FPSB
Many Canadian planners say their firms don’t yet have AI policies or guidance. Thirty-seven percent report a comprehensive policy, up from 16% in 2025, which is above the global average of 23%. Another 26% report some general rules, and 16% say a policy is in development. Where policies exist, they most often cover data privacy and client information protection (82%), human review before AI outputs reach clients (61%) and disclosure of AI use to clients (57%).
Disclosure and accuracy top the to-do list
Without specific guidance, planners tell clients about AI in different ways. Forty-one percent disclose it verbally in meetings, 20% use consent language for data use and third-party tools, 18% use client-facing reports, 18% a privacy notice and 17% an engagement letter. One in 10 do not currently disclose AI use to clients. The FP Canada Standards Council Staff Bulletin on the Responsible Use of Generative Artificial Intelligence encourages CFP and QAFP professionals to disclose AI use in engagement letters or deliverables and offers sample disclosure language.
Worries are shifting, too. Lack of human touch in client relationships, the top concern in 2025 at 43%, dropped to fourth place at 27%. Concern about the accuracy and reliability of AI outputs climbed to 53% from 38%, data privacy and cybersecurity to 43% from 34%, and over-reliance on technology to 32% from 28%.
FP Canada said it will continue to develop and share guidance on responsible AI use in the profession. “That said, with human oversight providing understanding, judgement and ethics, AI has the potential to revolutionize the delivery of financial planning advice while expanding access to the Canadians who need it most,” Batstone said.
The full text of New Research Shows How AI is Impacting Financial Planning is available at https://fpsb.org/impact-of-ai-on-financial-planning-global-research/.
