Industry leaders speaking at AdviceTech.Live said they have spent significant sums of money on the development of AI to increase both automation and scale, but the human advisor remains central.
“Technology is not going to replace advisors, but advisors who do embrace technology are going to replace advisors who don’t,” said David Karr, chairman of Equitable Advisors.
The new United Capital has $20 billion in total assets, 125 advisors, its own ADV and a management team pulled from both Creative Planning and Goldman Sachs.