Yet one in 10 Canadian planners say they don't currently disclose AI use to clients
Canadian financial planners are embracing AI faster than their peers around the world, and they are asking for clearer guidance on how to use it.
Nine in 10 Canadian respondents to the Financial Planning Standards Board's (FPSB) 2026 Impact of AI on Financial Planning research say their firms already use AI or plan to within the next 12 months, up from 71% in 2025. Globally, the figure is eight in 10.
The research was released on World Financial Planning Day and published by FP Canada on October 7, 2026. FPSB and its global network surveyed 8,095 planners in 37 territories online between May 22 and July 6, 2026, including 469 planners across Canada.
AI moves from pilot to practice
The tools are already on the desk for many. Sixty-five percent of Canadian planners say AI is employed in their firms today, not just planned for, compared with 36% in 2025.
Confidence is rising too. Seventy-seven percent agree AI will help them better serve clients, up from 66% in 2025. Seventy-one percent say it will enhance the quality of financial planning advice, up from 67%, and 59% expect it to create new opportunities for planners, up from 57%.
The payoff is starting to show. Sixty-five percent say AI is already improving their efficiency at least moderately, with 48% pointing to increased operational efficiency and 26% to the ability to serve more clients. Still, 46% say it is too early to assess measurable improvements. Half of Canadian respondents agree AI will reduce the cost of financial planning services, compared with two-thirds globally, and two-thirds in Canada and globally agree it will increase access for underserved populations.
Planners want a clearer playbook
“As firms across the country integrate AI into financial planning, practice management and communication tools, financial planners are experimenting with different ways of applying it to improve the advice they offer, the service they deliver and the efficiency with which they run their practices,” said Tashia Batstone, President and CEO of FP Canada.
When Canadian planners were asked which single initiative would most improve the safe and responsible use of AI, their top answer was best practice guidance on AI adoption and implementation. Globally, AI education and training ranked first, at 34%.
Many Canadian planners say their firms don't yet have AI policies or guidance. Thirty-seven percent report a comprehensive policy, up from 16% in 2025, which is above the global average of 23%. Another 26% report some general rules, and 16% say a policy is in development. Where policies exist, they most often cover data privacy and client information protection (82%), human review before AI outputs reach clients (61%) and disclosure of AI use to clients (57%).
Disclosure and accuracy top the to-do list
Without specific guidance, planners tell clients about AI in different ways. Forty-one percent disclose it verbally in meetings, 20% use consent language for data use and third-party tools, 18% use client-facing reports, 18% a privacy notice and 17% an engagement letter. One in 10 do not currently disclose AI use to clients. The FP Canada Standards Council Staff Bulletin on the Responsible Use of Generative Artificial Intelligence encourages CFP and QAFP professionals to disclose AI use in engagement letters or deliverables and offers sample disclosure language.
Worries are shifting, too. Lack of human touch in client relationships, the top concern in 2025 at 43%, dropped to fourth place at 27%. Concern about the accuracy and reliability of AI outputs climbed to 53% from 38%, data privacy and cybersecurity to 43% from 34%, and over-reliance on technology to 32% from 28%.
FP Canada said it will continue to develop and share guidance on responsible AI use in the profession. “That said, with human oversight providing understanding, judgement and ethics, AI has the potential to revolutionize the delivery of financial planning advice while expanding access to the Canadians who need it most,” Batstone said.
The full text of New Research Shows How AI is Impacting Financial Planning is available at https://fpsb.org/impact-of-ai-on-financial-planning-global-research/.
