Nearly seven in ten wealth management firms now use artificial intelligence in some capacity. That’s the headline number from Fidelity’s Wealth Management Pulse Survey, conducted in 2025 and highlighted in a recent BlackRock report on the state of AI adoption among financial advisors.

The 68% figure sounds impressive until you dig into what “using AI” actually means. About 50% of those firms are still in piloting stages, essentially kicking the tires rather than rebuilding the engine. Only a minority have deployed AI across multiple business functions.

What advisors are actually doing with AI

The three primary use cases won’t surprise anyone who’s worked in financial services. Advisors are using AI to automate administrative tasks, enhance services for high-net-worth clients, and power data-driven client acquisition.

BlackRock specifically calls out estate planning as an area where AI tools can elevate the service advisors deliver to wealthy clients.

AI-driven marketing strategies and CRM systems are helping advisors identify and target prospective clients with greater precision.

BlackRock frames these three pathways as a growth accelerator: operational efficiency lets advisors serve more clients, better HNW services increase retention and wallet share among the most profitable segment, and smarter acquisition fills the pipeline.

BlackRock’s own AI bet: Aladdin gets smarter

BlackRock’s Aladdin platform now features generative AI tools. Two notable additions are Aladdin Copilot and Auto Commentary. Copilot acts as an AI assistant within the platform, while Auto Commentary generates written portfolio analysis and reporting.

Morgan Stanley signed on as an early adopter of these generative AI capabilities in 2025.

BlackRock has also launched thematic ETFs focused on AI infrastructure and innovation, giving investors direct exposure to the companies building the picks and shovels of the AI revolution.

One thing notably absent from the BlackRock report is any mention of crypto tokens. The firm has been active in digital assets, particularly through its spot Bitcoin ETF, but this particular survey and analysis kept the two domains entirely separate.

What this means for investors

The 50% still-in-piloting number is the more revealing data point. It means there’s a significant gap between early movers and the rest of the field.

For investors evaluating wealth management companies and asset managers, technology integration is becoming a critical metric alongside assets under management and fee structures.