We had a busy holiday week for AI—even with one-less business day to report on, we have a lot of headlines to get to, but first we want to hit on a wealth of recent data on wealth management and artificial intelligence. 
We reported a few topline numbers from Ernst & Young’s most recent Global Wealth Research Report in this week’s Advisor Tech Talk column, but here in AI & Finance, we’re going to take a deeper dive into what EY thinks AI means for wealth management specifically, because their survey—of nearly 3,600 wealth management clients in 30 geographies during the fourth quarter of 2024—is particularly robust compared to the polls and surveys we’re usually provided regarding AI & Finance.
The most topline of all the numbers, to us, is the number of wealth management clients who intend to change providers in the near future, around one-third of EY’s survey, but more important are the biggest reasons for wanting to make a switch. As it turns out, technology offered by wealth manager is the third most commonly cited reason for changing providers, after chasing better investment performance and a desire for a wider array of products and services.
EY gave us some very specific, descriptive numbers regarding clients’ feelings around AI, with three-fifths of investors (60%) expecting their provider to incorporate AI into their wealth management offering. Looking by demographic and geographic group, these expectations were skewed: Younger and wealthier clients had higher expectations around the use of AI than older and poorer clients. Expectations were also higher among Asian and Middle Eastern clients than North American clients. Most wealth management clients worldwide, 71% of the survey respondents, already believe that their wealth management provider is using AI to manage their wealth.
“In reality though, we believe that most wealth managers around the world are not yet applying AI in ways that add tangible value for clients – at least, not to this extent,” wrote the researchers. “The fact that clients not only anticipate AI to be used but also believe it is already being implemented is certain to drive up expectations for additional value from advice, services and even investment performance. The implication is clear: effective expectations management will be key to achieving perceived success with AI. That is especially true in fast-developing wealth management markets where clients’ expectations are at their highest.”
Still, only 28% of clients worldwide trust AI equally as much as their human financial advisor—another with 10% of clients trusting AI more than their human advisor, according to EY’s survey. Trust was also skewed by generation—52% of millennials trusted AI as much or more than human advisors, versus 28% for Baby Boomers. Trust in AI was consistent across all wealth segments.
But where do clients trust AI to be used? As it turns out, not just in back-office, analytical functions, but also in reporting and monitoring (66% of clients were comfortable), providing investment advice (62% of clients comfortable) and in listening to and augmenting conversations with advisors (52%).
Based on its findings, EY proposes two use cases for AI in wealth management, one is next-generation financial planning targeted at millennials and younger generations (an area where technology like robo-advisors and fintech investment apps have already made significant inroads). The other, more interesting proposal, is for AI to be used to provide an automated financial concierge for high-net worth and ultra-high-net worth investors.
EY doesn’t believe that AI will come to replace human financial advisors, but the researchers did have this to say:
“It’s far too early to guess the full implications of AI for the wealth management industry. In the future, will clients rely entirely on independent AI models acting as their personal wealth advisor? Will they use AI-driven tools provided by wealth managers? Or could we see a web of virtual interactions between personal and institutional AI applications?”
We say yes to all of the above.
On that note, let’s go ahead and get to your AI headlines:
1. Cetera
Cetera, the premier financial advisor Wealth Hub, today announced the appointment of Keyur Desai as Chief Data and Analytics Officer, a newly created role reporting to Christian Mitchell, Chief Solutions Officer. Desai will lead the firm’s enterprise data strategy, advancing Cetera’s capabilities in analytics, AI, and advisor intelligence across its integrated ecosystem.
Desai joins Cetera with a proven track record as a transformational leader, having previously served as Chief Data Officer at organizations including TD Ameritrade. His appointment comes at a pivotal time for Cetera, as the firm accelerates its Wealth Hub strategy – enabling holistic practice management and delivering real-time insights that power productivity, personalization, and growth.
At the core of Cetera’s growth strategy is the belief that data is the connective tissue of the modern wealth management experience. Desai will lead efforts to scale advisor intelligence platforms, enhance practice analytics, and embed data insights throughout Cetera’s end-to-end lifecycle, from lead generation to succession planning. His work will directly support Cetera’s community-led approach and five-channel architecture, empowering advisors across independent, institutional, tax and RIA segments.
2. Emburse
Emburse, whose innovative travel and expense solutions power forward-thinking organizations, today announced a critical step in elevating finance operations with confidence. The company has unveiled the travel and expense (T&E) industry’s first AI Data Quality Dashboard—a transparency-focused tool within Emburse Analytics that gives finance teams comprehensive visibility into the accuracy of AI-powered receipt capture.
By tracking every user adjustment to receipt data inputs —across amount, currency, date, and category fields—the dashboard empowers finance professionals with the intelligence to identify patterns, ensure clean data, and optimize system configurations. These insights ultimately reduce manual intervention, unlock faster processing, and help organizations get the most out of AI-driven automation.
For instance, if a customer’s Miscellaneous expense category has significantly lower accuracy and a high number of corrections to the Gift category, it signals that the Gift category may need better mapping. The dashboard provides actionable guidance to help users refine configurations and reduce downstream friction.
3. Focus Financial Partners
Focus Financial Partners Inc., an interdependent partnership of wealth management, business management, and related financial services firms, today announced the appointment of Mark Israel as Chief Technology Officer, effective May 27, 2025. Mr. Israel joins Focus at a pivotal moment in its evolution as the company accelerates its technological and digital transformation in pursuit of reimagining the client and advisor experience.
As Chief Technology Officer, Mr. Israel will spearhead Focus’s forward-looking, enterprise-wide technology strategy, guiding innovation across key areas that include infrastructure, wealth management platforms, client interfaces, data and AI, cybersecurity, and corporate technology systems. A key priority for Focus is driving further connectivity between technology and advice to best meet the evolving needs of clients and advisors. Reporting directly to Justin Ferri, Focus’s Chief Operating Officer, Mr. Israel will play a vital role in this effort, aided by a team of senior technology leaders with deep experience across the RIA and broader financial services spaces.
Mr. Israel has more than 30 years of experience working in financial services and technology. He most recently served as Executive Vice President for Technology and Transformation at Fisher Investments. He has also been a Partner at PwC helping lead transformation in Asset and Wealth Management and has held roles at Sapient Global Markets and Charles River Development.
4. Integrity
Integrity, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has partnered with LMT Financial, an independent marketing organization based near Orlando, Florida, and led by Jonathan Mason. Financial details of the partnership were not disclosed.
LMT Financial has established a solid foundation of success based on resilience, perseverance and a willingness to evolve with the insurance marketplace. Its proven leadership development and training program creates strong professionals and future leaders who thrive when given an opportunity. As one of the fastest growing agencies in the country, LMT Financial helps families protect their legacies and achieve financial security by offering life insurance and annuity products. The agency is also very involved in financial literacy education events in the community and committed to supporting active military members and veterans.
An Integrity partnership provides agencies like LMT Financial access to proprietary technology, exceptional resources and industry-leading support designed to expand service opportunities and accelerate business growth. Integrity’s technology platform combines instantaneous quoting and enrollment with streamlined policy management. This solution is integrated with Ask Integrity™, an AI-powered, voice-activated customer relationship management technology that offers agents in-the-moment prompts, coverage recommendations and policy lifecycle reminders. Additional impactful benefits such as access to exceptional data and analytics, outstanding leadership guidance and ongoing innovation also guide the decision-making and growth of Integrity partners.
5. NICE
NICE Actimize, a NICE (NASDAQ: NICE) business, today announced that its market-leading SURVEIL-X Holistic Conduct Surveillance solution is now integrated with Actimize Intelligence, powerful Generative AI capabilities designed to ensure accurate and timely detection of market abuse and conduct risks across every type of regulated employee communication, from emails and chats to traditional voice calls.
Created to address the growing complexities of financial crime and conduct surveillance, Actimize Intelligence Generative AI leverages large language models (LLMs) in order to understand the true context of communications, going beyond keywords and rules-based detection to differentiate between suspicious and non-suspicious communications, factoring in jargon, tone, sentiment and intent.
SURVEIL-X, holistic conduct surveillance suite offers unparalleled risk coverage for buy- and sell-side firms, insurance companies, crypto exchanges, regulators and more, by enabling accurate detection and rapid, thorough investigation of market abuse, inappropriate sales practices, and conduct risk. SURVEIL-X also features the industry’s leading case management solution which provides the added benefits of built-in workflows to accelerate investigations, and automated trade reconstruction.
6. Options Technology
Options Technology (Options), the leading provider of global capital markets infrastructure, today announced the official opening of its new office in Central, Hong Kong, with the support of Invest Hong Kong (InvestHK). The expansion enhances Options’ ability to serve clients and partners across the Asia-Pacific (APAC) region, reflecting the firm’s continued investment in the infrastructure underpinning global financial markets.
The new office is located in Central, the heart of Hong Kong’s financial district, allowing the company to be in close proximity to its clients and key market infrastructure providers, including the Hong Kong Exchange colocation facility. Through this expansion, it aims to strengthen its delivery of real-time market data, infrastructure, and cloud services across Asia.
Today’s announcement marks the latest chapter in Options’ global expansion, following recent growth across key financial centers including London, Chicago, Tokyo, and Riyadh as Options continues to scale its global footprint to meet accelerating client demand, and reinforces its position at the heart of the capital markets.
7. S&P Global Market Intelligence
Muir AI (Muir), a leading innovator in novel applications of artificial intelligence (AI) for product intelligence, announced today S&P Global Market Intelligence will be leveraging Muir’s advanced proprietary modelling capabilities, combined with its data and expertise, to help deliver custom cost models for businesses worldwide. This collaboration will bring transparency around cost escalation at a time when clarity has never been more critical.
As global supply chains grow and products become inherently more complex, companies require enhanced visibility into their unique products to manage cost and drive value within procurement and design. Cost modeling requires the ability to scale for any system to provide intelligence across industry. Combining S&P Global Market Intelligence’s trusted datasets and Muir’s advanced AI technology, this product offering will provide customers with comprehensive, tailored cost models to optimize procurement and product-related costs.
S&P Global Market Intelligence’s robust data, which covers a vast range of industries, will integrate seamlessly with Muir’s AI-driven solution, enabling customers to rapidly access custom cost models with unparalleled precision. The enhanced visibility across multiple cost inputs, including direct materials, indirect expenses, and labor, will allow organizations to better anticipate shifts in market conditions and secure a competitive advantage in procurement.
8. The Thiel Foundation
The Thiel Foundation has officially unveiled its 2025 class of Thiel Fellows, assembling a group of brilliant young minds from around the world who are set to disrupt their chosen industries, uninhibited by the constraints of the modern education system.
Established in 2011, the two-year Thiel Fellowship awards grants to extraordinary young individuals to allow them to pursue groundbreaking endeavors of their own design. Each fellow in this year’s class will receive $200,000 over the next two years, an increase from the $100,000 awarded to prior classes. Through association with The Thiel Foundation, fellows gain access to a valuable network of tech founders, investors, scientists, and former fellows. In return, fellows must commit to focusing full-time on their projects, companies, or ideas unencumbered by traditional academic constraints. All fellows selected for this year’s class were 22 or younger when applying. The Fellowship looks for the individuals behind the projects. While some have successfully started companies, others have not yet even incorporated.
The new class joins 290 previous fellows. Prior classes include founders of Ethereum, Figma, Mercor, OYO Rooms, and Stord. Since the Fellowship’s inception, fellows have founded companies or projects collectively worth hundreds of billions of dollars.
9. Upstart
All In Credit Union, a leading credit union serving 200,000 members with $3.6 billion in assets, has announced its partnership with Upstart (NASDAQ: UPST), the leading artificial intelligence (AI) lending marketplace, to offer personal loans to more consumers.
All In Credit Union started lending as a partner on the Upstart Referral Network in March 2025. As part of the Upstart Referral Network, qualified personal loan applicants on Upstart.com who meet All In Credit Union’s credit policies receive tailored offers as they seamlessly transition into an All In Credit Union-branded experience to complete the online member application and closing process.
10. VinTech
VinTech, a leading provider of professional fintech and AI solutions, made a notable appearance today at the 23rd Asia Pacific Trading Summit hosted by the FIX Trading Community in Hong Kong. VinTech unveiled the concept for an AI-powered platform, FIX AMA (Ask Me Anything), a concept fully supported and developed by VinTech. The summit brought together over 600 trading and technology professionals from across the region to explore the latest trends in electronic trading.
The FIX (Financial Information eXchange) protocol is the global standard for electronic trading communications, adopted across equities, fixed income, forex, and derivatives markets. FIX Trading Community, the volunteer driven standards body behind the protocol, has shaped its global adoption and continuing innovation.
At the summit, VinTech showcased a range of innovations spanning both AI and fintech headlined by FIX AMA. Currently in its concept stage, FIX AMA is being designed to provide users with real-time, comprehensive and accurate technical support, powered by FIX’s official golden source documentation. The platform aims to eliminate the need for manual searches through scattered documentation, saving time for FIX protocol users and significantly improving efficiency.
