As the winds of change sweep across wealth management, technology is going to continue to be a major focus for firms looking to capitalize on the shift and come out on the other side with more clients.
That was part of the message delivered by Vanguard Investment Advisory Research Center Head Francis Kinniry and State Street Global Advisors SPDR's Head of Practice Management Brie Williams at Future Proof 2023.
During the unorthodox wealth fest that jams practice management insight onto the same beach as hip hop royalty, the pair of industry veterans connected for a conversation about how to prepare your practice for what's next.
They touched on everything from tips to recruiting new talent, to the impact AI will have on advisor workflows. But the thoughline was a need to get on board with the tech innovations that are reshaping the business — and to do so with a sense of urgency.
Kinniry says if done correctly, firms can unburden overworked advisors and put more focus on making sure they have the right people in place.
"We're seeing a pretty dramatic shift from the competencies of maybe a financial planner or an investment manager, and more towards relationship management. And much more towards practice management because the tools today are there to help the advisor concentrate on the human capital," he said. "You have your tech stack, but at the top of the tech stack is the human capital stack."
Check out the full story and much more, only at Financial Planning.
Anything else on your mind? Drop me a line at [email protected]. Have a great weekend!
Regards,
Justin

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