How AI simulation accelerates growth in wealth and asset management

AI simulation represents a fundamental breakthrough in strategic intelligence. Unlike traditional surveys, it doesn’t ask people what they say they would do — it models what they are likely to do. Instead of asking 1,000 people hypothetical questions, one can now simulate 100,000 digital personas that behave with human-level realism — in hours, not months.

These aren’t simple chatbots running through surveys. Using advanced language models and behavioral architectures, AI agents replicate the complex decision-making patterns of real populations. They evaluate options, weigh trade-offs, form opinions, and make choices based on embedded behavioral traits and environmental context. Every decision leaves a traceable logic trail, revealing not just what choice was made, but why.

Technology addresses a problem that has plagued decision-makers forever: the gap between what people say and what they actually do. Research shows that when asked hypothetical questions, people report willingness to pay a price three times higher than when actual money is involved.⁴  While 65% of people state a preference for sustainable products, actual purchases hover at 26%.⁵  In wealth management, investors say they are comfortable with risk — until real money is at stake.⁶

Traditional research draws its power from individuals, but its limitations lie in retrospective data and stated intentions. AI simulation, by contrast, adds a new richness by modeling behavior and predicting likely future actions, including the trade-offs and context that drive real-world decisions.

Think of it as creating a digital twin of your market — a living laboratory where you can test strategies, predict reactions and refine approaches before risking capital or reputation. It is the difference between navigating with a paper map and using GPS that shows traffic, suggests routes and reroutes you in real time.

With all the promise that synthetic data and AI simulation appear to offer, the EY organization wanted to put AI simulation to an ultimate test. 

We challenged Aaru to re-create our 2025 EY Global Wealth Research Report, one of the industry’s most comprehensive research initiatives spanning 3,600 affluent investors across more than 30 markets.⁷ Traditional fieldwork takes six months and is resource intensive. In just one day simulation survey results were correlated over 90%+ to the actual survey — an impressive benchmark for any predictive model. But more importantly, in areas where Aaru’s predictions diverged from our survey responses, the AI simulation proved more accurate in predicting real-world behavior. 

The inheritance loyalty myth

• What people say (EY survey): 82% of heirs claim they’ll keep their parents' advisor.⁸
• AI Simulation prediction: 43% retention rate.
• Real-world data: Industry studies show 20% to 30% of heirs keep their parents’ advisor.⁹

This isn’t a survey failure — it’s a reflection of human nature. Behavioral science teaches us that people are unable to think in hypotheticals. It’s well understood that people tend to give socially acceptable responses when responding to market studies. They may be affected by survey fatigue or answer without thinking. Sometimes, people just lie. AI simulation’s behavioral modeling strips away these biases to reveal likely actions. For wealth and asset managers, this transforms strategic planning — intergenerational wealth retention isn’t automatic, it requires proactive relationship building. 

The consolidation contradiction

• What people say: 69% prefer a single financial provider.
• AI simulation prediction: 37% prefer a single provider.
• Reality: Only 33% of high-net-worth individuals use one advisor alone.

We can’t claim that AI simulation guarantees what people will do — future behavior is inherently uncertain. But by modeling behavioral patterns, preferences and trade-offs across synthetic populations, it provides structured foresight into how people are likely to act under new scenarios.

AI simulation captures behavioral insights often absent from traditional research. Clients express a preference for simplicity, but act on their desire for specialized experience. This insight reshapes how firms approach client acquisitions and retention.

The point is not just that AI simulation can replicate surveys quickly, although that potential is exciting. It is that AI simulation can complement traditional research and practical experience with advanced behavioral intelligence by modeling what people actually do, not what they claim they’ll do.

Traditional decision-making is built on a 20th-century foundation — gather historical data, analyze trends, extrapolate from those trends and make informed projections. AI simulation offers a 21st-century alternative: create digital markets, test “infinite” scenarios and see outcomes before committing.

This isn’t an incremental improvement in intelligence. It's a fundamental transformation in how organizations take decisions. Just as GPS replaced paper maps and smartphones replaced phone booths, AI simulation shifts the probability curve, showing what people are likely to do.

The test against the global EY organization gold standard of wealth management research shows something profound — AI simulation doesn’t just accelerate research — it can deliver superior insights by modeling actual behavior rather than stated intentions. When billions of dollars and client relationships are at stake, the difference between what people say and what they do isn’t academic. It has real-world implications.

Within 18 months, AI simulation will shift from a competitive advantage to table stakes. Within three years, no major strategic decision will be made without it. Organizations that haven’t started by then will be left behind.

At the EY organization, we aren't just observing this revolution – in collaboration with our clients, we're designing it. Our proven methodology, demonstrated accuracy, and implementation experience make the theoretical practical and the future achievable.

The question isn’t whether AI simulation will transform strategic decision-making. It’s whether you’ll lead the transformation or remain on the sidelines.