Wealth management is firmly in its AI era, and advisors who may have been approaching the tech with closed fists will need to switch to open arms if they hope to remain competitive.
That was the message delivered by a roundtable of wealthtech heavy hitters who gathered for the AI & Automation Summit for Financial Advisors, a virtual event for wealth managers itching to weave the latest AI tech into their practices.
Moderated by Ezra Group CEO Craig Iskowitz, the event featured remarks and demos from Josh Smith, CEO of VRGL; Andrew Altfest, CEO of FP Alpha; Anand Sheth, CEO of Pulse360; and Rick Williamson, director of training at Redtail.
Their goal was to take artificial intelligence from buzzword to reality by showing planners exactly how AI-powered tools could simplify a prospect's journey from first contact to follow-up communication. They also had a candid conversation that gave advisors advice on AI security, implementation and innovation in wealth management.
The panelists covered a wide range of topics in the nearly two hours they chatted, but Alfest summed up the state of things during the event with a sound bite that drew nods of agreement from everyone else in the virtual room.
"If you're a business leader and you're looking at the next five years and you're not thinking about AI or how it's gonna transform your business … you're crazy."
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 | | Justin Mack
Reporter, Financial Planning
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