On 6 July 2026, the FCA published the Mills Review, into the future impact of AI on retail financial services. The Review sets a clear direction for the sector: support AI adoption while strengthening governance, accountability, assurance and oversight.
For wealth managers, the Review does not create a new rulebook. Consumer Duty, SM&CR, operational resilience and third-party risk remain the foundation. The challenge is understanding how those existing responsibilities apply as AI becomes more embedded in client journeys, decision-making and outsourced technology.
In this free practical webinar, we will examine:
- What the Mills Review has genuinely changed.
- What it leaves unresolved for wealth managers.
- Where firms may be most exposed across governance, outsourcing and client outcomes.
- What boards, Senior Managers, Compliance and Risk teams should do now.
- The questions firms should be asking before AI adoption accelerates further.
No hype. No distant predictions. Just the practical implications for PIMFA member firms.