New CFP Board Report Charts the Path Forward for AI in Financial Planning

Artificial intelligence (AI) is redefining the future of financial planning, transforming how professionals deliver advice, connect with clients and build trust in an increasingly data-driven world. As part of its ongoing work to lead the profession through technological change, CFP Board has released a new report, Leading the Future: Harnessing AI in the Financial Planning Profession, offering strategic foresight and practical guidance for key stakeholders across the financial planning ecosystem.

Advanced under the leadership of CFP Board Chair Liz Miller, CFP®, CFA® and led by COO K. Dane Snowden, the report draws on insights from CFP Board’s AI Working Group, a diverse team of experts from within and beyond the financial planning profession, who help inform CFP Board’s perspective on AI and its potential impact.

“AI brings both extraordinary opportunity and new responsibility for the profession," said CFP Board Chair Liz Miller, CFP®, CFA®. “As the professional body for financial planning, CFP Board is bringing together experts from across the ecosystem and leaning into our role to shape and lead the profession in an AI-driven world.”

Actionable Insights for Stakeholders

The report provides strategic and practical guidance for stakeholders across the financial planning ecosystem, including CFP® professionals, candidates for CFP® certification and CFP Board Registered Programs. For CFP® professionals, AI offers opportunities to improve efficiency, enhance client insights and strengthen service delivery, while differentiating themselves through technical expertise and uniquely human skills such as empathy and behavioral coaching. For candidates preparing for CFP® certification, future success will hinge on mastering both the ethical use of AI tools and the interpersonal skills that technology cannot replace. For CFP Board Registered Programs, curricula must integrate AI application while reinforcing ethics and human-centered competencies.

“As AI reshapes every profession, CFP Board is charting the path for financial planning to deliver greater value to the public,” said CFP Board CEO Kevin R. Keller, CAE. “This report equips CFP® professionals and other stakeholders with the insights they need to navigate uncertainty and thrive, responsibly and ethically, in an AI-augmented future.”

CFP Board’s Leadership in AI

CFP Board is committed to ensuring that AI strengthens, rather than undermines, the human-centered foundation of financial planning. The organization has identified three priority areas to guide its ongoing work:

1. Thought Leadership: Anticipating change, highlighting the enduring human value in financial planning and supporting both traditional and technology-driven practice models.
2. Workforce Development: Preparing CFP® professionals to thrive in an AI-enabled environment by setting expectations for CFP Board Registered Programs and exploring new certification pathways and specializations.
3. Professional Standards: Developing clear guidance and practical use cases for the ethical and responsible integration of AI into professional practice.

“Preserving the role of the human financial planner requires deliberate action now,” said CFP Board COO K. Dane Snowden. “CFP Board’s work on AI is setting the foundation for a future that integrates technology, and the accessibility and efficiencies it can provide, with the vital human connection between financial planners and their clients.”

Possible Futures for the Financial Planning Profession

The AI Working Group identified four potential futures for the profession, shaped by public trust in AI and the degree of disruption from new entrants such as Big Tech:

• Financial Planner’s Best Friend: AI serves as a trusted co-pilot, reshaping the profession while the human element remains at its core.
• MyAI: AI assistants achieve widespread adoption. AI-native firms thrive while many financial planners face displacement.
• Full Circle Finance: Public skepticism slows adoption. AI setbacks reaffirm the need for human-centered advice.
• Silicon Valley Joins Wall Street: The market splits between low-cost AI-driven options and high-touch human service.

Read the full Leading the Future: Harnessing AI in the Financial Planning Profession report here.