Experts predict the impact AI will have on our industry
Some believe there will be subtle improvements, while others believe AI will radically change the financial advisory business.
Read Mike Byrnes’ The Daily Upside article to learn the varying expert opinions from basic efficiency advancements to monumental shifts.
Here are some of the viewpoints shared:
“We are already seeing AI used to find new prospects.” – Joel Bruckenstein, president of Technology Tools for Today
“Everything is on the table for disruption.” – Scott Smith, senior director at Cerulli Associates
“The real threat isn’t that AI makes advisors more efficient, it’s that it makes entire parts of what advisors do irrelevant.” – Dan Garrett, managing director at Oyster Consulting
“Advisors who can combine AI with empathy, trust, and sound judgment will stand out in a crowded marketplace.” – David Bellaire, executive vice president at the Financial Services Institute
“Advisors who don’t evolve into empathetic strategists and life coaches will be left behind.” – Jennifer Magarelli, chief administrative officer at the fintech Bonsai
“We all have blind spots that AI can show us, moving our industry from reactive planning to proactive planning.” – Laura Holt, CEO of LHE WealthTech Matchmaker
“Our research found that adoption is primarily happening with particular segments of advisors … not as a general panacea.” – Michael Kitces, Chief Financial Planning Nerd at Nerd’s Eye View
“We’re transitioning from an era where computers assist people to one where people assist computers.” – Darren Tedesco, president of Advisor360°
“In a world of hyper-optimization, the slower-paced white glove nature of human-to-human interaction may be the only thing left standing for small advisors to provide to the market.” – Daniel Yoo, CEO of FinMate AI
“The financial system as we know it is on the brink of extinction” – Thomas Frey, senior futurist at FuturistSpeaker.com
Ready for the huge wave of change headed our way?
Reach out to Mike Byrnes to set up a conversation.
