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The role of a financial advisor is going to change much quicker than people expect.
When ChatGPT was first released, we didn’t fully grasp how much or how fast it would change the world. There’s an often-repeated saying: “We overestimate what can be done in two years and underestimate what can be done in ten.” And this rings especially true for the financial services industry.
Two developments have really changed my perspective on how the future of our business will unfold: AI Assistants (or Agents) and, more recently, Advanced Voice Mode (essentially ChatGPT in Audio Mode).
AI Assistants are providing massive leverage to financial advisors, but there's a key condition: You need the right end-to-end platform—one that understands the full advisor workflow, from sales and financial planning to portfolio management, and everything in between.
Imagine being able to chat with an assistant who finds new leads, sends your value proposition, and fills your calendar. Imagine an assistant who helps you generate content to reach a wider audience, schedules meetings, updates client profiles, and even flags which clients need your attention—all just by asking it to. This isn't some far-off dream; this technology is already being built and is a lot closer than most realize (unless, of course, you’re stuck in a big bank brokerage—but that’s another story for another day).
Advanced Voice Mode was another game changer for me. A lot of people argue that the "human touch" in wealth management is irreplaceable, and I used to agree. But when advanced voice tech can pick up on your tone and emotions, and even respond empathetically, it's not hard to imagine that AI will soon handle 80% of the tasks for 80% of people with relatively simple financial situations.
This doesn’t mean the advisor is going away, but the role will shift significantly. Advisors will need to focus on what makes them irreplaceable: nuanced judgment, emotional intelligence, and personalized relationship-building.
AI will do a good job for a lot of people. For those with straightforward financial situations, AI will be efficient, consistent, and always available. Where it may fall short on the human touch, it makes up for by being there 24/7. And eventually, AI will surpass many advisors in terms of accuracy—because no advisor, despite their expertise, can be a true expert in every scenario. AI, on the other hand, has access to the most up-to-date information on a global scale in real time.
Advisors will need to carve out their niche and build strong personal brands. Clients will seek out advisors who have specialized expertise or a unique approach that resonates with them. Meanwhile, AI assistants will handle all the prep work—gathering data, summarizing information, and highlighting key issues—so advisors can focus on the big picture and the high-value interactions.
The result? Advisors will serve more clients and do a better job for them, as technology enables them to spend more time on strategic thinking and less on administrative tasks.
Will AI replace advisors completely? Honestly, in the way we see advisors today, it probably will. But the role will evolve. Instead of being gatekeepers of financial knowledge, advisors will become business owners, strategists, and connectors, using AI to amplify their impact. Human insight will still be invaluable for complex situations, but for the majority of financial management, AI will likely become the first point of contact.
The future of wealth management isn’t about choosing between AI and advisors—it’s about advisors using AI to become more effective and offer deeper, more personalized advice. Those who embrace this shift will thrive in the new landscape, leading the charge into a future where human expertise and technology work hand in hand.
