The STEP Barometer 2026 report looks at the value of expertise in a complex world and reveals the key challenges, trends and priorities facing family wealth and succession advisors and their clients globally.

On 31 March 2026, STEP held a webinar, for which more than 1,100 people registered, which I was delighted to chair. We brought together experts from across the globe to discuss the key themes raised by STEP’s Barometer Report. Delegates asked our expert panel a range of insightful questions, and we have shared below a summary of the follow-up answers we shared with them.

1. Use of AI at different career levels

AI is most helpful when time is short. Experience allows practitioners to know what to look for, spot errors, and apply judgement. A key discipline is to do the work first and then verify with AI, not the other way around. STEP’s Barometer Report found that 56% of practitioners are using AI experimentally, while 18% are using it regularly as part of their workflow.

AI adoption is not uniform across jurisdictions. The Barometer Report showed that 8% of Singaporean citizens would choose AI as their first source of advice on wills and estate planning, double the rate seen in the UK and Australia (4% each). In digitally connected jurisdictions like Singapore, AI is already becoming normalised as an entry point. This means practitioners everywhere must be prepared for clients who arrive having already consulted AI tools.

A further nuance from the webinar discussion is that senior practitioners may use AI very differently from junior colleagues. Experienced advisors already have the baseline knowledge needed to identify errors, omissions, or hallucinations. Junior practitioners, by contrast, may not yet have that grounding, making judgement and supervision even more important as AI becomes embedded in workflows.

2. With most of us thinking our roles are changing, what advice would you give to those just starting their careers to become the advisors of the future?

Curiosity is fundamental. This is not about ticking off CPD requirements, but about developing genuine and sustained interest in specialist areas. Early‑career practitioners can make strong use of STEP resources to build technical depth. One of the most important future skills is the ability and confidence to make judgement calls. A practitioner’s value increasingly lies in interpreting and applying information, rather than simply providing it.

Getting involved early in discussions around shared family values, purpose, and governance is also an effective way to broaden advisory skills. The Barometer Report also found that 19% of practitioners now collaborate with non‑traditional advisors such as coaches, psychologists, or mediators, highlighting the growing importance of understanding the human dimensions of wealth.

3. Working with AI as a STEP student or early‑career advisor (UK‑based)

AI can be especially useful for research and study support, provided outputs are approached with healthy scepticism and checked against practical experience. The Barometer Report highlights that 84% of respondents believe professional bodies such as STEP should develop guidance on the ethical use of AI. Understanding data privacy, hallucination risk, and jurisdictional bias will become a key differentiator for future advisors.

4. Who is best positioned to lead family succession conversations?

There is no single answer. The most effective leader is often the person with the broadest understanding of the family’s circumstances and, critically, the family’s trust. This is frequently a trusted advisor or family office coordinating legal, tax, investment, and governance expertise. With the Barometer finding that 77% of practitioners are already seeing evidence of the Great Wealth Transfer, succession conversations are becoming increasingly urgent.

5. Why are clients favouring simpler planning over maximum tax efficiency?

Client motivations are shifting towards values‑driven planning. Rising compliance costs, cross‑border complexity, and transparency requirements mean families increasingly value simplicity, workability, and reduced dispute risk alongside, or above, maximum tax savings.

6. Will clients rely solely on AI for advice?

AI is already a first port of call for many clients, but it cannot replace the value of human judgement, challenge, and the ability to navigate complex family dynamics. Alarmingly, only 21% of UK respondents say they would choose a human advisor over AI, highlighting the need for the profession to clearly articulate its value.

7. Can AI support cross‑border planning?

Current AI tools show jurisdictional bias, particularly towards US law, limiting reliability for cross‑border advice. Given the constant evolution and fragmentation of legal frameworks, professional oversight remains essential.

8. Could AI‑driven advice create systemic risks?

Over‑reliance on similar AI tools risks herding effects and increased exposure to bad actors. Bespoke, ethical human judgement remains the critical safeguard.

9. Digital assets and succession planning

Digital assets pose unique challenges around access, custody, valuation, and regulatory treatment. With 41% of practitioners seeing more crypto holders, this is an area where guidance and practitioner capability will need to grow rapidly.

You can watch the webinar in full by visiting the STEP website

Asher Noor TEP, Founder, Odyssey SFO, Melbourne