Canadian Advisors Take The Lead In Generative AI At 56%

Republished By Plato

Followers: 0

Canadian Advisors Take the Lead in Generative AI at 56% PlatoBlockchain Data Intelligence. Vertical Search. Ai.

The global fintech company Broadridge has released
its annual survey, highlighting the adoption of artificial intelligence (AI)
among financial advisors in North America. The Fifth Annual Broadridge Survey
shows that 56% of Canadian advisors use or plan to use generative AI in digital
marketing, while the figure stands at 43% for US advisors.

Advisors who communicate quarterly exhibit a
confidence level of 68%, surpassing their counterparts communicating annually
or less frequently at 51%. Personalized content marketing also emerges as a key
success factor, with 71% of those engaging in it expressing confidence in
reaching practice goals.

Next-generation technologies, particularly
generative AI, play a pivotal role in reshaping marketing efforts. Advisors
leveraging AI report higher success rates in converting social media leads to
clients, spending more time on marketing, and generating more website leads.

With generative AI being a crucial tool, advisors
are also exploring its potential for developing personalized content and
marketing campaigns, automating tasks, and segmenting clients.

While marketing challenges persist, the survey
reveals a decline in advisors with a defined marketing strategy. Only 20% of
U.S. advisors and 21% of Canadian advisors report having a defined strategy. However, those with a strategy demonstrate
significantly higher confidence levels (83% and 89% for U.S. and Canadian
advisors, respectively) in meeting practice goals.

Source: Broadridge

Kevin Darlington, the General Manager and Head of
Broadridge Advisor Solutions mentioned: “Many concerns and questions
remain around the technology, so advisors should understand the risks and
opportunities to leveraging generative AI in a digital marketing strategy to
remain compliant while attracting prospects.”

“Similarly, social media has become a popular
tool to attract the next generation of potential clients and should be
harnessed effectively for lead generation.”

Social Media

Social media also takes center stage, with 57% of
Canadian advisors investing or planning to invest, indicating a focus on
attracting younger clients. LinkedIn and Facebook emerge as the top platforms
for lead conversions.

With generative AI being a crucial tool, advisors
are also exploring its potential for developing personalized content and
marketing campaigns, automating tasks, and segmenting clients.

Source: Broadridge

“Similarly, social media has become a popular
tool to attract the next generation of potential clients and should be
harnessed effectively for lead generation.”