Is Wealth Management Counting its AI Eggs Before They’ve Hatched?

Is Wealth Management Counting its AI Eggs Before They’ve Hatched?

by Jeff Nash, Founder & CEO, BridgeMark Strategies

Published March 4 on AdvisorHub

Like all industries, wealth management has its challenges. One that has been looming large for years concerns demographics: there is a stark – and demonstrable – decline in the number of financial advisors: the industry currently has more advisors age 80 and above than under age 30.

A recent McKinsey study has verified what such long-known demographic trends have forecast: the industry is on the cusp of a profound financial advisor shortage. This, combined with the expected growth in demand for financial guidance spurred by The Great Wealth Transfer, is set to create a concerning imbalance in the industry. It’s a conundrum that when put against a backdrop of heightened client expectations for custom support, will have financial professionals scrambling to deliver optimal service to their clients.......Read More