Jeopardy! at Wealth Management EDGE: AI Use, Next-Gen Client

A lively and interactive session on various industry topics led by Integrated Partners’ Chief Brand Officer Matt Ackerman took place at the Wealth Management EDGE conference in Boca Raton, Florida.
The panel discussed the impact of artificial intelligence (AI) on the industry, with differing opinions on whether AI will create a sea of sameness or serve as a tool for creativity.
Penny Phillips emphasized that AI can operationalize an advisor’s business and create efficiencies if used correctly, thereby enabling advisors to engage more effectively with clients and prospects.
Joshua Herring expressed his view that AI should be used as scaffolding to support advisors, rather than as a time-saving crutch, highlighting the importance of integrating AI alongside human expertise.
The discussion also covered the topic of data, with an acknowledgment that the wealth management industry is still in the early stages of analyzing data and needs to improve its utilization.
The panelists foresaw that future clients will place a high value on agency, requiring advisors to be ready to relinquish more control to their clients for a personalized and effective advisory experience.