LPL Financial Advisors Embrace AI’s Potential for Business Growth, Increased Capacity, Survey Finds

Core Insights - LPL Financial's annual conference revealed that 78% of financial advisors are utilizing or planning to use AI tools to enhance business capacity in 2025 [1][2] - The firm invested $470 million in technology development in 2024, focusing on advisor feedback to improve operational efficiency and client experience [3] - A significant portion of advisors (66%) are adopting new technologies to create capacity, with 54% planning to grow their businesses through technology upgrades [2][4] Technology Adoption - More than half of LPL advisors (54%) aim to grow their businesses by upgrading technology systems, including AI and automation tools [2] - Only 12% of advisors see disruptive technology as a major challenge, compared to 23% citing economic volatility and sustaining growth [2] Investment and Innovation - LPL showcased innovations at Focus 2025, including expanded AI tools, major infrastructure investments, and a $50 million initiative to transform advisor compensation [3] - The firm is focused on automating time-consuming processes to enhance advisor efficiency and accuracy [3] Advisor Priorities - Advisors are looking to expand wealth management services, with 18% planning to offer alternative investments and 37% aiming to provide additional planning services [4] - A focus on serving higher-net-worth clients is evident, with 34% prioritizing wealth planning services and 24% cultivating relationships with CPAs and attorneys [4] Client Interests - Advisors reported that clients are most concerned about market volatility (62%), goals-based financial planning (50%), and tax optimization (49%) [5]