Independents lag on AI. Here's how they can catch up

Independent financial advisors are using AI far less than employees at large firms, even though tools are widely available, according to a JD Power study. Nearly three-quarters of employee advisors actively use AI, compared with 42% of independent advisors. The report frames the gap as structural rather than technological: larger “wirehouses” can integrate AI into their platforms, set governance rules, and train advisors at scale. Independent firms have improved—AI use among independents rose from 19% to 42% in a year—but many still need faster governance, vetting, and training. The article highlights cost pressures too: secure, compliant AI systems can run into thousands of dollars per month, pushing smaller firms toward lower-entry solutions like DeepVest’s Day One.