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The Mills Review and the future of Advice-grade AI

AI is rapidly changing how financial advice is delivered, but with greater opportunity comes greater scrutiny.

Following the FCA’s announcement of The Mills Review, advice firms are facing important questions about how AI is being used, which tools can be trusted, and what responsible adoption should look like in a regulated environment.

Join In our live online session, The Mills Review and Advice-grade AI: Dynamic Planner, industry, regulatory and technology leaders explore what the review could mean for advisers and paraplanners, why some AI tools are attracting FCA attention, and why secure, reliable and accountable Advice-grade AI matters more than ever.

What is The Mills Review?

The Mills Review is the FCA’s landmark examination of how artificial intelligence could reshape retail financial services by 2030 and beyond. It considers the implications of increasingly advanced and autonomous AI for consumers, firms, markets and regulators.

The review highlights the potential for AI to improve access, personalisation and efficiency, including helping to address long-standing challenges such as the advice gap. However, it also warns that AI could amplify fraud, cyber-security threats, consumer harm and market concentration, particularly as more financial decisions are delegated to autonomous systems.

Rather than introducing a new rulebook, The Mills Review sets out seven priority recommendations for the FCA to consider. These include adapting the regulatory perimeter, strengthening oversight, monitoring the transition towards autonomous AI and expanding the FCA’s ability to test and supervise AI-enabled financial services.

AI notetaking is not enough for regulated advice

AI can capture a conversation, summarise a meeting and save advisers time. But in regulated advice, efficiency is only part of the equation. The real question is whether AI can truly unlock adviser capacity by producing clear evidence trails, enabling effective review and aligning with established suitability governance. As the FCA highlights within The Mills Review, firms need to understand the foundations they are building on. AI systems must be capable of being interrogated, their outputs must be explainable, and their role within the advice process must be clearly governed. Dynamic Planner is focused on AI that does more than take notes. It is designed to support advice workflows that can be evidenced, reviewed and trusted.
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Beechwood Financial Services – Case Study
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Real firms. Real time saved.

“What was potentially up to an hour, sometimes more, is now a ten, twenty minute process. It also means for the advisers who were dictaphoning and getting someone to type it, you don’t have that delay.”
Jasmine Granger, Beechwood Financial Services
Post-meeting work and follow ups would probably take us 45-minutes to 1 hour. Since we’ve adopted the AI transcription service, we’ve cut that down to 10 minutes.“
Chris George, MAC Financial

See Advice-grade AI in action

See how Dynamic Planner can help your firm reduce admin, improve consistency and unlock capacity with AI built for regulated advice.

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What makes AI Advice-grade?

Governed

ISO/IEC 42001-certified AI governance and a published AI Charter.

Evaluated

Tested against real advice data, not just theoretical or synthetic scenarios.

Controlled

Firm policy, human oversight and auditability built into the workflow.

Embedded

AI works inside the Dynamic Planner platform, not as another disconnected tool.

Advice-grade AI built for regulated advice

AI should do more than make advice firms move faster. It should help advisers create capacity, improve consistency and keep human expertise in control. Dynamic Planner brings AI-assisted workflows into the digital advice platform advisers already use, with governance, oversight and advice quality built into the journey.

1 AI meeting summaries

Help advisers move from client conversation to action faster, with summaries that can be reviewed and edited before they progress.

2 AI Smart Meetings

Support a more efficient meeting workflow while keeping the adviser relationship at the centre.

3 Live transcription

Reduce the burden of manual note-taking so advisers can stay focused on the client conversation.

4 AI Report Companion

Support faster reporting and reviews while keeping advice policy, quality controls and human oversight in the process.

Built into the platform, not bolted on beside it

Dynamic Planner is not a standalone AI notetaker or report generator.

Advice-grade AI is built into the UK’s leading AI-powered digital advice platform, supporting the full client journey, from engagement, onboarding and profiling through to financial planning, suitability, reporting and ongoing reviews.

Because it works within the platform, AI can support connected workflows rather than isolated tasks. It can draw on the right client information, operate within established processes and help firms deliver advice that is more efficient, consistent and easier to govern.

This is AI designed for the realities of regulated advice embedded where advisers work, not added alongside it.

Known for profiling. Built for the whole advice journey.

You may know Dynamic Planner for risk profiling. But the platform goes much further.

Dynamic Planner brings AI, client engagement, onboarding, profiling, financial planning, suitability, reporting and ongoing reviews together in one connected advice journey.

So firms can move beyond disconnected tools, reduce duplication and unlock capacity, with technology designed to support advisers and clients at every stage.

Known for profiling. Proven across the advice journey.