The Future of AI, Efficiency, and Client Engagement in Financial Advice

Artificial intelligence (AI) is no longer a distant concept, it’s already transforming how financial advice is delivered, managed, and experienced. In a recent episode of The ifa Show, MLC Expand CEO Liz McCarthy and Shadforth Financial Group CEO Terry Dillon joined host Keith Ford to explore how AI is reshaping the advice landscape. Their conversation offered a practical look at how advice firms can leverage technology without losing the human touch clients value most. 

As advice practices look to streamline operations and free up time for higher-value conversations, AI is emerging as a crucial enabler of efficiency, precision, and scalability. Both McCarthy and Dillon emphasized that AI’s potential lies not in replacing advisers, but in amplifying their capacity to deliver tailored, meaningful guidance. 

Driving Efficiency Through Smarter Systems 

Routine administrative tasks from data entry to document processing have long absorbed valuable adviser hours. MLC Expand and Shadforth are leading the charge in integrating AI tools that automate these repetitive functions, helping advisers reclaim time to focus on what matters most: engaging with clients. 

By automating workflows, AI reduces errors, accelerates turnaround times, and provides a smoother client experience. For firms, this translates into greater operational efficiency and an ability to scale without compromising quality. 

Governance and Data Privacy at the Core With great technology comes great responsibility. Both CEOs underscored the importance of robust governance, data security, and privacy frameworks in implementing AI solutions. 

Financial advice is, by nature, deeply personal and any technology that handles sensitive information must be managed with the highest standards of care. This means ensuring that data is used ethically, securely stored, and transparently managed to maintain client confidence. 

Enhancing Client Engagement and Financial Literacy 

Beyond efficiency, AI offers exciting opportunities to elevate client engagement. From intelligent dashboards to predictive insights, AI can help advisers anticipate client needs, deliver timely recommendations, and make complex financial concepts easier to understand. 

This, in turn, supports broader financial literacy and helps close the advice gap, ensuring that more Australians can access quality advice, tailored to their personal goals and circumstances. 

Looking Ahead 

As AI continues to evolve, the advice profession stands on the brink of a new era. The firms embracing these tools with strong governance and a client-first mindset will not only boost productivity but also enhance the value and depth of client relationships. 

At Power Tynan and Zinc Wealth, we’re actively exploring how these innovations can help advisers and clients alike by creating more time for meaningful conversations and ensuring advice remains as personal as ever, even in an increasingly digital world. 

Let’s Talk About What’s Next If you’d like to learn more about how emerging technologies like AI can support your business or improve your financial advice experience, please contact our team today. We’d be happy to walk you through the possibilities and help you plan for the future with confidence.