As artificial intelligence (AI) adoption within the retirement plan industry gains traction, more financial advisory firms are using the tool to streamline business practices and grow client experiences.
A new Financial Satisfaction survey out today from JD Power finds that over the past year, active usage of AI tools increased to 73% among employee advisors, up from 44% in 2025, while adoption among independent advisors grew to 42%, up from 19% last year. Satisfaction scores for those who use AI at their firms also jumped to 781 (on a 1,000-point scale) among employee advisors and 826 for independent advisors, up from overall scores of 632 and 688.
Other key strategies, like stronger mentorship and succession planning, were likelier to drive further engagement for advisors.
“We’re now seeing AI move beyond the buzz and start to fundamentally change how advisors manage their practices and evaluate their firms’ ability to support their continued growth,” said Mike Foy, managing director of the wealth management practice at JD Power. “When AI is rolled out smoothly, with proactive communication and effective training, advisors can take hours back from compliance and administrative work and reinvest that time in clients and new business development. The firms that get that formula right are the ones seeing the biggest gains in satisfaction, loyalty and productivity in their advisor populations.”
Strategies beyond technology
JD Power’s findings also demonstrate the importance of incorporating strategies outside of AI technology and in understanding how different advisor groups prioritize their roles.
Implementing “teaming” approaches, where independent advisors adopt structures historically associated with large employee firms, was shown to increase client focus and satisfaction. This was especially true for midsize teams with three or four advisors, who peaked at the highest levels of satisfaction, according to JD Power.
Industry-wide, 40% of employee advisors and 35% of independent advisors now work in teams. Among advisors under age 50, 49% of independent advisors currently work in teams.
New and veteran advisors showed differences in prioritization, with newer advisors likelier to focus on client-retention support while seasoned colleagues place importance on practice valuation as they prepare for retirement.
JD Power’s research also highlighted strategies that while once worked, have faded overtime. This includes mentorship programs, which the findings show have become less effective among early-career advisors in the employee segment.
“Beyond technology, firms that want to develop and retain talent while protecting client relationships need effective team structures, mentorship and succession planning,” said Kapil Vora, senior director of wealth intelligence at JD Power. “It is essential that these programs combine hands‑on experience with clear career progression tailored to advisors at every stage of their careers.”
Index rankings
JD Power’s study ranked the top employee and independent advisors based on categories including compensation, firm leadership and culture, operational support, products and marketing, professional development, and technology.
Among employee advisors, Stifel ranked the top spot in overall satisfaction for a fourth consecutive year, with a score of 812. Raymond James & Associates followed second at 775, and Edward Jones placed third at 750.
On the independent advisor side, Commonwealth ranked the highest for overall satisfaction for a thirteenth year in a row, with a score of 790. LPL Financial was runner-up at 744, and Raymond James came in at third place with a score of 720.
The 2026 study is based on responses from 4,503 employees and independent financial advisors and was fielded from December 2025 through April 2026.