Cutting Through Wealth Tech Noise with Chip Kispert
Wealth management firms are surrounded by an ever-growing list of technology tools. From artificial intelligence to compliance systems to new investment platforms, advisors and firms are under pressure to adopt innovations while avoiding overload. The challenge is knowing which technologies truly add value and which only create noise.
Moving Beyond the Buzz of AI
Artificial intelligence has become one of the loudest topics in financial services. According to Chip Kispert, many firms are chasing AI projects without clear use cases. The result is a lot of noise with little measurable impact. The difference comes when AI is applied to real problems. For example, firms are now using AI to streamline estate planning processes and to build smarter compliance surveillance systems. These practical applications reduce manual work and free up advisors to focus on clients.
Adoption and Change Management
Technology adoption is not only about the tool itself. Kispert emphasizes that change management and education are critical. Advisors are more likely to embrace new platforms when they clearly see how the tool saves time, simplifies workflows, and improves client outcomes. Firms that roll out technology with step-by-step training and persona-based strategies stand a far better chance of success.
Compliance and AI Policies
Another key theme is compliance. AI raises urgent questions about data use, privacy, and oversight. Kispert highlights that every wealth firm now needs an AI policy. Defining standards is no longer optional. Firms must address whether their AI models are public or private, how data is retained, and how client information is protected. Regulators are expected to weigh in heavily, which makes preparation essential.
The Rise of Alternatives
Investor demand for alternatives is growing quickly. From real estate to fintech to crypto, clients want a broader product shelf that reflects their curiosity and desire for diversification. Firms must balance this demand with their responsibility to act in the best interest of clients. Kispert points out that distribution challenges and complex back-end reporting can make alternatives difficult to manage. Simplifying these processes is critical if alternatives are to become part of mainstream offerings.
Why Scale Matters
The final driver of firm-wide change is scale. As advisory shops grow, they often struggle to maintain strong client relationships. Technology plays a central role in solving this challenge. By automating parts of the journey and improving operational efficiency, firms can continue to deliver personalized service while expanding their reach. Scale is not just about growth. It is about sustaining trust and consistency across a larger client base.
Key Takeaway
The wealth management industry is in a period of rapid change. Technology will continue to create new opportunities, but the real winners will be the firms that focus on clear use cases, strong adoption strategies, compliance readiness, and scalable growth. As Kispert puts it, everything starts with the service model. Defining how you want to serve clients sets the foundation for every other decision.
