This article, published by Net Positive Consortium advisory member Suzanne Siracuse, originally appeared in Financial Advisor Magazine. Click here to read the full article.
Artificial intelligence is quickly becoming the efficiency engine advisory firms have been waiting for. It can summarize meetings, extract data, populate planning software, draft follow-up notes, surface planning opportunities, and accelerate workflows that once took hours or even days.
For firm leaders struggling with capacity, margin pressure, and talent shortages, the promise is obvious. AI can help teams do more with less. It can remove administrative drag, and free up advisors to spend more time with clients and less time moving information from one system to another.
But there is another question firms need to ask before they automate too much, too quickly:
If AI takes over the entry-level work, where will the next generation of advisors learn how to become advisors?
That question came up repeatedly during a recent Net Positive Consortium in Wealth Management webinar focused on AI’s impact on staffing models, firm culture and the future of financial advice.