Understanding Kitces' Stance on AI for RIAs
Michael Kitces, a respected voice in financial advising, offers a practical take on how RIAs can use artificial intelligence. He challenges the simplistic idea that AI's main benefit is just letting advisors serve an unlimited number of clients—200 or more, for instance—without changing their service model or how they operate. Frankly, that's just not how it works.
Kitces says RIAs need to manage expectations. Don't just think about more clients when you consider AI adoption. The real value of AI for an advisory practice? It streamlines complex tasks, automates repetitive work, and gives you much deeper insights. Ultimately, that improves the quality and efficiency of client service, not just the number of clients you serve.