Inside the FSC’s Technology in Wealth Summit: Event wrap up
Nearly 300 leaders from 100 companies across financial services technology, advice, superannuation and investment management gathered at the Four Seasons Hotel Sydney on 6 May for the FSC’s Technology in Wealth Summit 2026.
Over the course of the day, the program traced a clear arc: artificial intelligence has moved well beyond experimentation and is now deeply embedded across the sector, reshaping how organisations operate, compete and deliver value, but its success still hinges on trust, governance and human judgement.
Watch the video highlights here.
The AI Inflection Point
The day opened with FSC CEO Blake Briggs reflecting on the pace of technological disruption and the need to ensure innovation strengthens trust and improves consumer outcomes. That tension between rapid change and enduring responsibility set the tone for the conversations that followed. Futurist Mark Pesce’s keynote captured the moment as an “AI inflection point”, driven by the rise of autonomous AI agents capable of executing complex tasks with minimal oversight. He likened the shift to the industrial revolution, arguing that AI is forcing organisations to rethink long‑standing pricing models and operating structures. Mark emphasised that trust, relationships, networks, physical assets, security and regulation will remain the industry’s most durable competitive advantages.
This theme carried into the first session featuring Amber Auld (Head of Capital Markets, Microsoft), Jason Entwistle (Director, Strategic Development, HUB24), Clive van Horen (CEO, Colonial First State) in discussion with Abigail Holman (Partner, Data & AI, Deloitte Australia). Our panellists discussed how AI is augmenting human capability and freeing employees from repetitive tasks. The panel also pointed to AI’s potential to help close Australia’s advice gap by lowering the cost of scaled guidance, while underscoring the need for strong governance, risk frameworks and organisation‑wide AI literacy.
A live demonstration from Apate.AI Co-Founder and Chief Commercial Officer, Brad Joffe, showed how technology is being used to fight crime. Apate.ai’s conversational agents engage scammers in realistic dialogue to waste their time and extract intelligence on criminal infrastructure.
When Clients Ask AI First
One of the most widely discussed sessions was chaired by Wendy Mak (Chief Marketing Officer, MUFG Pension and Market Services) exploring how consumers are increasingly turning to generative AI tools before engaging financial advisers. Will Liang (CEO, Amplify Group), Rebecca Pope (Head of Marketing & Communications, Vanguard Australia) and Matt Brown (CEO, Fortnum and Personal Financial Services) described a growing “human → AI → human” advice journey, where clients arrive with AI‑generated insights or questions shaped by tools such as ChatGPT.
Will Liang demonstrated both the strengths and limitations of current models, including “Frank”, a structured multi‑agent AI advice tool.
The panel unpacked the implications of this shift, from the variability and reliability of AI outputs to the challenges of financial literacy and the importance of trust when AI gets things wrong. The consensus was clear: the future of advice will be hybrid, blending human judgement with AI‑enabled tools.
Risk, Cyber and Data
Throughout the afternoon, speakers turned to the operational backbone of the industry: risk, cyber and data.
WT Financial Group CEO, Keith Cullen, together with Group Head of Advice, Jack Standing, demonstrated how they are using AI-enabled risk and file-review technology to deliver real-time analysis, high-volume oversight and granular identification of risk indicators across its national adviser network, strengthening the quality and consistency of advice. Their platform, RADAR, is helping transform supervision and governance by automating manual review processes and elevating emerging risks earlier and at scale.
In discussion with Industry Leader, Geoff Lloyd, Dr Merriden Varrall (Special Advisor, Geopolitics, KPMG South ASPAC) highlighted how geopolitical risk is now embedded across technology systems, regulatory obligations and client trust, requiring a more integrated approach to strategy and risk.
Atmos Chief Strategy Officer, Reece Corbett‑Wilkins, described an accelerating “arms race” between attackers and defenders, with AI lowering barriers for criminals while increasing attack sophistication. The discussion reinforced the need for governance, leadership oversight, employee education and APRA‑aligned controls, positioning cyber resilience firmly as a board‑level priority.
Data, too, emerged as a critical enabler. In a discussion chaired by Novigi’s Senior Partner, Devan Naidoo, Mark Pesce (inventor & futurist), Ashwin Sinha (Chief Data, Digital & AI Officer, Macquarie Bank) and Randike Gajanayake (Chief Technology Officer, Brighter Super) emphasised that organisations do not need perfect data to begin AI adoption. Instead, success depends on governance, data quality, clarity around fitness for purpose and organisational readiness. Governance complexity, they noted, often outweighs technical complexity - a reminder that AI transformation is as much about people and processes as it is about technology.
The Future of Portfolio Construction
The conversation then shifted to investment and portfolio construction.
Alison Telfer (CEO, Schroders Australia) chaired a session featuring Robert Ansari (Global Head of Analytics & Portfolio Solutions, Mercer), Subraya Pai (Director, Strategic Client Relationships, BlackRock) and Damian Graham (Group CIO, Challenger) exploring AI’s growing influence on research and decision‑making.
AI’s ability to synthesise large datasets and extract insights from unstructured information is improving efficiency and expanding analytical capability. While adoption is still early, the panel agreed that AI will augment, not replace, investment professionals, with oversight, data quality and governance remaining essential. They also pointed to opportunities for greater personalisation and improved retirement advice.
CEO Perspectives: Decisions That Matter
The Technology in Wealth Summit closed with perspectives from Nick Hamilton (CEO, Challenger), Kelly Power (CEO – Superannuation & Investments, Colonial First State), and Blair Vernon (CEO, AMP). In a discussion hosted by FSC CEO, Blake Briggs, they agreed that AI presents significant productivity and growth opportunities, but the industry is still early in understanding its full impact. Leadership agility, re-skilling and a focus on practical outcomes will be critical.
Across the entire program, a consistent message emerged: AI is now embedded in financial services, reshaping advice, investment, cyber security and risk. But its long‑term impact will be determined not by the technology itself, but by how effectively organisations combine innovation with governance, leadership and enduring client relationships.
The FSC thanks its Major Partners, HUB24, Novigi and WT Financial Group, its Supporting Partners, Deloitte Australia and MUFG Pension and Market Services and Networking Partner, Iress, for their valued contribution to this event.
Catch up on the video highlights here.
Join us for the FSC Shaping Advice Summit on 30 July in Sydney, where we’ll explore the next wave of transformation in financial advice, regulation and consumer engagement.