Future-proofing your advice firm: lay the foundations for AI success

Multiple advice industry figures sent me this announcement this week: Wealth Management - Claude Plugin.

Anthropic connecting AI to advised client data is an example of an established pattern that already works well in smart advice firms today.

The industry keeps debating “will AI replace the financial adviser?”. That question misses the near-term threat. The competitive gap is opening quickly: advice firms using frontier AI connected to clean, well-structured client data deliver faster, more personalised service.

AI models are useless if they can’t access your client information easily, securely and reliably.

For too many firms, getting the client data organised is a can they’ve kicked down the road for too long. I see US firms with documents locked in archaic, inaccessible vaults. I see Australian firms with critical client context mastered inside proprietary platforms with inaccessible APIs like Xplan.

I know the change looks daunting, but Anthropic’s announcement should be a wake-up call: the stakes are now much higher.

Three steps to get competitive:

• Nail your client data model: household, family members, goals and recommendations, balance sheet, portfolio/holdings, engagement touchpoints, task history, advice delivery. Get it consistent, high-quality and under control.
• Enable the data model in a core CRM on an open, strategic platform. The CRM’s API is the UI for AI: it needs to be secure, robust, high-performance, bulk-capable, with public documentation.
• Organise your client documents by household, linked to the CRM record, on a document platform with a first-class API. Unstructured document content complements the structured client data in your CRM.

To build a future-proof advice business, lay the foundations first - the firms doing this already are pulling away.