AI Is Eating Wealth Management for Lunch. Here’s How to Stay at the Table

Artificial intelligence is eating the world. And for many people, it’s already replacing Google in their daily lives.

The other day, my car sensor went off. Instead of wasting hours at the dealership — driving back and forth, waiting and probably overpaying — I pulled up ChatGPT. I described the symptoms (using voice transcription, not even typing), and seconds later, I had a clear solution. Fifteen minutes later, the problem was fixed. No hassle, no unnecessary expense.

This is the world we’re stepping into.

AI isn’t just answering questions. It’s stringing together workflows, automating solutions and accounting for subjective nuances in ways we never imagined. And in wealth management, that’s going to mean hyper-personalized, AI-driven insights that reshape how we work.

Where We’re Headed

Imagine automations tailored to individual clients — signals sent based on their specific preferences. Some might want deep market insights, while others might want their children looped in on portfolio updates while they themselves focus on tax consequences.

For years, wealth management has provided value through better returns, confidence and peace of mind. That won’t change. But the way we deliver it will. The puck has moved. If we don’t lean into this next stage, we’ll be playing an old game on a new rink.

What To Do Now

Outline AI’s Role in Your Firm

What’s acceptable? What’s not?

Who’s writing these policies? Are they pushing the boundaries or just playing defense?

AI governance needs leadership that understands both the risks and the potential.

Build an AI Think Tank

Surround yourself with people solving real problems with AI.

Collaborate with business-owner clients. Share insights. Test ideas.

AI is evolving too fast for solo learning — build a group that accelerates your knowledge.

Become a Practitioner

Don’t just talk about AI — use it.

Automate internal tasks. Streamline decision-making. Experiment.

The more you immerse yourself, the more you’ll reshape how you see the world — and the value you bring to clients.

This isn’t a passing trend; it’s a fundamental shift. And the advisors who embrace it — who embed AI into their firms, who rethink workflows, who challenge old assumptions — will lead the next era of wealth management.

Jud Mackrill is co-founder and managing partner of Milemarker, which powers a growing number of leading wealth management firms across the industry.