AI Implementation in a UK Wealth Management Firm
Sector: Financial Advice & Wealth Management
Role: Strategic Advisor & Project Lead
Service Areas: AI Strategy · Systems Implementation · Regulatory Alignment
The Challenge
A mid-sized wealth management firm was facing increasing regulatory pressure under the UK Consumer Duty framework, alongside growing adviser burnout and administrative overload. Significant time was being absorbed by meeting notes, follow-up documentation, and record keeping, reducing adviser capacity and increasing frustration.
Leadership wanted to explore whether AI could be used to relieve some of this operational burden. However, there was understandable caution. Any solution would need to align with FCA expectations, support auditability, and avoid introducing regulatory or reputational risk. Confidence in governance, consistency, and oversight was non-negotiable.
The challenge was to reduce low-value admin without undermining quality, professional judgement, or regulatory confidence.
Our Approach
Bonner-Murray Consulting was engaged to lead an end-to-end AI implementation, focused on proportionate, controlled use of technology aligned to both operational and regulatory requirements.
The engagement began with a targeted review of the full client lifecycle, focusing on where adviser and support time was being consumed.
This included:
Mapping meeting workflows, documentation requirements, and follow-up processes
Identifying high-friction, low-value administrative tasks
Assessing where automation could add value without replacing professional judgement
Reviewing regulatory obligations around record keeping, audit trails, and Consumer Duty
This phase established clear boundaries for where AI could and could not be applied.
With requirements defined, a structured selection process was run to identify appropriate AI tools.
This involved:
Assessing tools against operational needs, data security, and regulatory expectations
Stress-testing outputs against internal procedures and advice standards
Designing an implementation approach that complemented existing CRM and meeting workflows
Piloting the solution in a controlled environment before wider rollout
The focus was on integration and control, not novelty.
Once implemented, attention turned to adoption, consistency, and oversight.
This included:
Training advisers and support staff on appropriate use
Embedding feedback loops to refine outputs and maintain quality
Mapping AI-generated documentation directly to internal procedures
Ensuring outputs supported auditability and Consumer Duty reporting
The emphasis throughout was on confidence and defensibility.
The Outcome
The firm achieved a material reduction in administrative burden while strengthening regulatory confidence.
The outcome included:
Automated meeting documentation, saving hours per adviser each week
Consistent, procedure-aligned outputs supporting auditability
Improved Consumer Duty reporting through clearer engagement records
Increased adviser capacity for client-facing work
A controlled cultural shift toward confident technology adoption
"It didn’t just cut admin - it gave us real insight into how we were engaging clients, and what good looked like."
Managing Director (anonymous)
