Administrative and compliance responsibilities are dominating financial advisers’ workloads, according to a study from Fidelity Adviser Solutions.

The company’s research highlighted how advisers and firms are embracing new technology, particularly artificial intelligence (AI), to tackle the challenge of administration and compliance that continues to limit client-facing time.

Fidelity’s findings, based on a study of 209 financial advisers, revealed that 20% of an adviser’s day is spent preparing reports and plans, and 18% on compliance and admin – leaving 33% for client meetings. This time was also broken up by 20% in-person meetings, and 13% remote.

Over seven in 10 advisers (72%) stated that reducing the administrative burden would most improve their workday.

Head of adviser distribution at Fidelity International, Paul Richards, said: “Our latest study highlights the reality of the modern adviser’s working day – too much time lost to administration and compliance, and not enough spent with clients.

“Advisers tell us that in their ideal day, they would spend half their time with clients compared with just a third now. Technology, particularly AI, is already starting to close that gap.”

Fidelity’s research also suggested that AI adoption is already underway across financial advice with around one in five firms (19%) introducing an AI tool in the past year. Uses for these tools included meeting transcription (13%), automation of routine tasks (10%) and acting as a personal assistant (7%).

Advisers were optimistic about the benefits too, with two in five (40%) respondents believing AI would allow them to spend more of their day in client-facing tasks.

“We see AI as an enabler, not a replacement,” Richards added. “By streamlining routine processes, it frees advisers to focus on what really matters – building relationships, understanding client needs, and delivering long-term outcomes.”

---