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[quote=Anonymous][quote=Anonymous]It’s actually not as vulnerable to AI as you think.

First, AI isn’t going to convince a HNW person to allow a firm to manage their money so sales/relationship folks won’t go anywhere.

Second, a good wealth management firm is providing tax planning, estate planning, etc. in addition to portfolio management (that aspect is definitely getting more automated).

Finally, most clients expect a human to answer the phone and talk to them especially during big market move days.

It’s not really AI per se…but more people are more comfortable managing their own money which impacts wealth management firms.[/quote]

Sorry, you're wrong.

I'm from generational wealth and we (my siblings and cousins) are the first generation to manage our own wealth.   With the amount of resources available to us and the ability to consolidate data, why would we need a wealth advisor.  If you can look at investments objectively instead of emotionally a computer is a much better choice than a person, plus it's free and rich people are frugal to our core about things like that. [/quote]

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