Generative AI (Gen AI) is rapidly reshaping industries, and wealth management is no exception. Earlier this week, OCBC announced that it had rolled out a generative AI-powered skills training programme for its 900 wealth advisors. This was an intriguing proposition, since the essence of wealth advisory lies in something AI models cannot replicate: trust. Clients look to advisors not only for financial expertise but also for empathy, judgment, and a genuine understanding of their personal goals.
That is why OCBC’s initiative underscores this balance, marking a significant step in how financial institutions prepare their teams for the future. By leveraging AI to simulate realistic client interactions and deliver instant, standardised feedback, the bank is scaling up training in ways that were previously limited by supervisor availability and human bandwidth.
The Promise of Scale and Consistency
OCBC’s six-month generative AI-powered training programme for its 900 wealth advisors in Singapore is an immediate improvement over its traditional training methods. Previously, training was conducted in person, one-on-one, and was heavily dependent on supervisors’ availability. With each supervising manager coaching up to 10 staff members, wealth advisors would have to wait up to three weeks to secure a session. What’s more, evaluation standards and feedback quality was highly dependent on each supervisor’s ability, resulting in some inconsistencies.
OCBC’s new Gen AI training programme allows wealth advisors to practice scenarios at any time and receive immediate, standardised feedback from the AI tool. The AI tool simulates realistic client interactions, based on real-life scenarios, including building an investment portfolio, identifying risk profiles, or adjusting strategies to market shifts.
Both the wealth advisors and supervisors would then receive AI-generated gap-analysis reports. This enables the advisors to know where their strengths and weaknesses lie, and allows supervisors to use their limited availability to deliver more targeted in-person coaching.
Early Results: Performance Gains
According to OCBC, the Gen AI-powered training programme has already shown measurable impact.
Advisors reported higher levels of customer engagement, with twice as many weekly client appointments as peers not yet trained. The bank also revealed that advisors who went through the programme saw a 50% uplift in revenue within three months of implementation, compared to the previous quarter.
At the media launch, we had a real-time demonstration of one of the training modules, where wealth advisor Ng Zuolin was presented with a concerned enquiry regarding shifts in international investments in light of the challenging global situation.
Ms Ng demonstrated two kinds of responses: one that showed little competence and a lack of soft skills, and one that was reassuring and projected confidence. In each demonstration, the AI training tool, which appeared to be powered by enParadigm’s Catalyx platform, evaluated each response in real time, pointing out both learning opportunities and examples of excellence.
The Human Touch: Irreplaceable in Trust-Building
OCBC has often been at the technological forefront of banking in Singapore. Way back in 2017, it was the first bank in Singapore to use facial recognition technology for accessing mobile banking apps. In late 2023, it again became the first bank to launch a Gen AI chatbot for its employees globally to boost productivity.
Perhaps that is exactly why OCBC sees the need to make it clear that AI cannot replace human empathy and judgment. As Sunny Quek, OCBC’s Head of Global Consumer Financial Services, noted: “In wealth management… advisory requires empathy, judgment, and trust—qualities that only human advisors can bring.”
Trust in wealth advisory is not built on technical knowledge alone. Clients rely on advisors to understand their personal circumstances, aspirations, and anxieties. While AI can simulate conversations and provide structured training, it cannot replicate the emotional intelligence and relational depth that underpin trust.
Balancing AI Precision with Human Empathy
The programme illustrates a hybrid use of Gen AI, with AI provides scale, consistency, and precision in training, and human supervisors provide empathy, contextual judgment, and trust-building.
This balance ensures that advisors are not only technically competent but also emotionally attuned to client needs. By freeing supervisors from repetitive training tasks, AI allows them to focus on deeper, higher-value coaching—the kind that strengthens human connections.
Is Gen AI The Future of Wealth Advisory
OCBC’s initiative is the first of its kind by a bank in Singapore, and it will soon expand to Malaysia and Hong Kong with localised content. The broader implication is clear: AI can elevate professional standards across the industry, but it must be deployed as a complement, not a substitute, for human advisors.
For clients, this means more consistent advisory experiences. For advisors, it means faster skill acquisition and greater confidence. But for trust, the cornerstone of wealth management, the human touch remains irreplaceable.
