Will Financial Advisors Be Replaced by AI? HSBC Survey: Over 90% of Wealthy Taiwanese Use AI, But Final Decisions Still Rely on Professional Advisors

AI is rapidly permeating the investment decisions of affluent individuals. HSBC's newly released report, 'The Collaborative Advantage of Humans and Artificial Intelligence: HSBC Global Wealthy Client Report 2026,' reveals that wealthy and high-net-worth investors in Taiwan have widely adopted AI in financial and investment fields. A striking 94% of respondents reported using AI, with 79% applying it to finance and investment—surpassing its use in career development (69%) and daily life (68%).

In terms of usage, Taiwanese investors primarily use AI as an investment research and analysis tool. The survey shows that 74% of respondents use AI for analysis and research, 47% for assisting in formulating investment strategies, and 38% as a 'second opinion' to evaluate their own investment ideas.

AI is rapidly lowering the barriers to information access and analysis, enabling investors to grasp vast market data in a shorter time. However, when it comes to critical decision-making stages, human expertise still holds a crucial position.

HSBC's survey found that when respondents were asked about the source of their most recent investment idea, 58% chose financial professionals and institutions, compared to 40% for AI. When it comes to final investment decisions, the importance of financial professionals becomes even more pronounced: 40% of respondents identified them as a key factor influencing their decisions, while AI accounted for only 9%—a difference of over four times.

This gap reflects a shift in AI's role within the investment process: investors can use AI to search for data, analyze information, and compare options, but when it comes to asset allocation and final decisions, they still expect professionals to interpret risks, verify information, and take responsibility throughout the decision-making process.

Financial advisors are not being replaced by AI—investors value the 'peace of mind' they provide.

The survey also shows that demand for financial advisors has not diminished despite AI's rise. A significant 81% of Taiwanese investors value the 'peace of mind' provided by financial professionals, and 71% appreciate their strategic analytical capabilities.

Among the skills Taiwanese investors most value in financial advisors are 'helping interpret complex information and providing customized explanations' (34%), 'identifying errors in AI-generated data' (29%), and 'using professional judgment for verification' (27%).

Notably, the proportion of Taiwanese investors who need advisors to interpret complex information and provide customized explanations is the highest among the 10 markets surveyed. This suggests that as AI delivers vast amounts of information, the ability to transform that information into personalized investment plans aligned with individual financial situations, risk tolerance, and life goals remains a core value of professional wealth management.

'The endpoint of AI exploration is the starting point of financial expertise,' said Hu Hsing-hsien, Head of International Wealth Management and Premier Banking at HSBC (Taiwan) Commercial Bank. An increasing number of clients are using AI to explore different options, but when it comes to making actual investment decisions, they still value the judgment, scenario analysis, and accountability provided by trusted financial advisors.

The wealthier the individual, the more they expect a 'hybrid collaboration' between AI and financial advisors.

HSBC's survey found that as wealth increases, investors' acceptance of AI and their expectations of its impact on investment returns rise simultaneously. At the same time, demand for professional knowledge and the perceived value of financial advisors also increase. This indicates that high-net-worth individuals' perception of AI is evolving from a mere information tool to an integrated part of the investment decision-making process.

The survey revealed that 50% of wealthy Taiwanese investors believe the ideal financial decision-making model is a 'hybrid approach' involving both AI and financial advisors. AI handles rapid information processing, data analysis, and proposal generation, while professional advisors further interpret, verify, and customize recommendations—creating a complementary relationship.