New platforms emerged. Workflows became more automated. Data became more accessible. Nearly every wave of innovation arrived with predictions about how it would fundamentally transform the industry.
Many of those predictions weren't wrong. Technology has changed how advisory firms operate, how portfolios are managed, and how clients are served.
Today, that conversation is centered around AI.
I believe AI will be one of the most impactful technologies our industry has seen in decades. But like every major shift before it, its greatest value may not come from replacing people. It will come from helping people do their jobs better.
For decades, much of advisor technology has been about efficiency: How do we process more accounts? How do we automate repetitive work? How do we scale?
Those questions remain important, but the opportunity ahead feels different. Increasingly, technology won't just help advisors work faster. It will help them identify opportunities, surface insights, and make more informed decisions.
That's where AI becomes particularly intersting.
The firms that successfully leverage AI won't simply be the ones that automate the most tasks. They'll be the ones that use it to help advisors spend more time on the activities clients value most: delivering guidance, building relationships, and providing personalized advice. In many ways, the next phase of innovation is about making personalization more scalable.
For years, technology helped firms operate more efficiently. AI has the potential to help firms deliver more individualized experiences without sacrificing scale. The firms that successfully combine personalization, technology, and human expertise will be well positioned for the future.
One misconception I often hear is that AI will replace the sophisticated systems and investment processes firms rely on today.
I don't see it that way.
When it comes to portfolio management, trading, and rebalancing, consistency, transparency, and control remain essential. Advisors need reliable systems capable of applying rules consistently across thousands of accounts and complex investment strategies.
Purpose-built technology still matters. What AI can do is make those systems easier to understand, navigate, and utilize.
One challenge in sophisticated rebalancing systems is understanding why a particular outcome occurred. Hundreds of rules, preferences, and constraints may contribute to a recommendation. AI is particularly effective at analyzing those factors and providing clear expectations to users, giving advisors greater visibility intonot the decision-making process.
That's the part of the thinking behind RedBlack Guide AI. Rather than replacing the underlying investment logic, it helps explain outcomes, answer questions, and reduce the time users spend searching for answers.
In my view, this represents one of AI's most valuable roles in wealth management: not replacing expertise but making expertise more accessible.
The most immediate applications of AI are practical rather than revolutionary. Think of meeting summaries, workflow assistance, natural-language interaction with software, and explanations of complex outcomes.
For example, we are using AI to help users understand why a rebalance produces a particular result because transparency matters.
As systems become more sophisticated, helping users understand outcomes becomes increasingly important. The future isn't just about automation: it's about clarity.
One trend I'm particularly interested in is whether AI changes the economics of independence.
The wealth management industry has experienced significant consolidation over the last decade. Larger firms have benefited from scale, resources, and operational efficiencies that smaller firms often struggled to replicate.
AI may help level that playing field.
If independent advisors can access capabilities that once required significantly larger organizations, we could see a new generation of entrepreneurial firms emerge. It's still early, and the long-term impact remains to be seen. But it's one of the developments I'm watching most closely.
After spending two decades in wealth management technology, I've learned that every major innovation arrives with excitement, optimism, and often a fair amount of hype.
AI is no different.
I'm optimistic about its potential, but I also believe firms should approach it thoughtfully. Governance matters. Human oversight matters. Processes matter.
The firms that benefit most from AI won't be the ones that blindly trust it. They'll be the ones that integrate it responsiblyibley into strong operating models and sound decision-making frameworks. AI can help advisors becom emore efficient. It can improve client experiences. It can reduce manual work and help uncover insights.
But it won't replace trust. It won't replace judgement. And it won't replace the human relationships at the center of wealth management.
If the first 20 years of RedBlack taught me anything, it's that innovation is the most powerful when it helps people do hat they already do best.
Technology will continue to evolve. New tools will emerge. AI capabilities will expand. But the fundamentalsntals that drive successful advisory firms remain remarkably consisten.
Great technology still requires great people, great investment outcomes still require sound judgement, and great firms never stop adapting.
As we look ahead, I'm excited about the opportunities AI will create. But I'm equally confident that the firms that succeed will be those that balance innovation with expertise, efficiency with personalization, and technology with human insight.
That's been true throughout the last 20 years, and I suspect it will be true for the next 20 as well.