Artificial intelligence is no longer sitting at the edges of wealth management. It is already part of daily operations, shaping how advisors write, plan, and interact with clients.
At a recent Goldman Sachs industry event, leaders highlighted how the technology is moving beyond simple support tasks and starting to influence hiring models, communication styles, and long-term firm structures.
What once felt experimental now sits inside core workflows across advisory teams.
From Support Tool to Core Advisory Companion
AI is already being used for routine yet important tasks such as drafting emails, preparing client meeting notes, and sorting large volumes of documents. While these functions save time, industry voices suggest the shift runs deeper than efficiency gains.
Larry Restieri, CEO of Hightower Advisors, captured this change with a sharp view of the profession’s direction, stating, “We used to live in a world where an advisor was a stock-picker. The rep-as-PM model is dead.”
That perspective reflects a broader transition where advisory work leans less on product selection and more on relationship depth, interpretation, and guidance. As systems handle repetitive work, the human role shifts toward judgment and emotional intelligence.
“Age of Avatars” and Digital Financial Voices
A new phase is forming where AI takes on recognizable personas inside financial services. Citi recently introduced its AI client assistant, Sky, signaling a wider movement toward digital colleagues.
Shirl Penney, founder of Dynasty Financial Partners, described how this concept is expanding inside his firm. “We’re going to eventually have hundreds of digital employees,” he noted.
One of the firm’s tools, a virtual version called “Virtual Shirl,” has been trained using five years of emails, speeches, and written material to reflect tone and communication style. It is designed to introduce wealth managers to the firm and explain its independent advisor model in a consistent voice.
Another AI tool, Archie, is in beta and focuses on delivering market commentary directly to clients. The goal is to reduce repetitive client calls while maintaining steady communication. As Penney explained, “It’s scaled communication.”
Hiring Patterns Under Pressure
The rise of AI is also influencing how firms think about recruitment. Entry-level roles that once focused on repetitive support tasks are being reshaped as automation takes over parts of that workload.
George Lee, co-head of Goldman Sachs Global Institute, pointed out that firms ignoring campus hiring risk missing a key source of innovation. Younger professionals often bring stronger familiarity with AI tools, which makes them central to how firms adapt internally. Lee also noted that “over time, the far more exposed population are middle managers.”
Rob Sechan, CEO at NewEdge Wealth, added a practical hiring view shaped by productivity gains from AI systems. “It doesn’t mean people get removed,” he said. “It probably means hiring happens more slowly because productivity from these tools is critically important.”
Sechan also highlighted cultural resistance to AI use in communication. Referring to writing styles, he noted, “There’s some embarrassment when you see the em dash in an email… I want to see it. Don’t be embarrassed. Be embarrassed if it’s not being used.”
Wealth management is shifting into a structure where digital systems handle execution-heavy tasks while advisors focus on interpretation, client trust, and communication clarity. AI tools such as Sky, Virtual Shirl, and Archie signal a growing presence of digital colleagues inside advisory firms.
As hiring models evolve and workflows shift, automation and human judgment continue to reshape how firms deliver modern financial guidance.
