Each quarter, we try to use this space to talk about what’s changing, what matters, and how we’re thinking about your financial life. This quarter, it feels right to give an update on artificial intelligence in the wealth management industry. AI has gone from something we heard about on earnings calls and in the news to something that’s actively shaping how our industry operates behind the scenes.
You’re probably seeing it everywhere now—from your phone, to your email, to the way companies communicate and make decisions. Our industry is no different. The important question isn’t whether AI will be part of this business going forward—it already is. The real question is how it gets used, and whether it strengthens or weakens the personal advice experience.
At Allen & Company, we believe it should do exactly one thing: make us better advisors without changing who we are.
Across the industry, firms both large and small are investing lots of capital in AI-powered tools. Asset custodians and technology providers are rolling out systems that analyze portfolios, identify potential planning opportunities, and help advisors explain complex ideas more clearly. Schwab, for example, recently introduced AI-driven, client-facing portfolio insights designed to highlight allocation decisions, performance drivers, and planning tradeoffs in a way that’s easier to understand and discuss.[1] Other firms are using AI to run tax[2] and withdrawal scenarios[3] as well as surface trends that might otherwise go unnoticed. These tools are freeing up time so advisors can focus more of their day where it matters most—working directly with clients.
What’s clear is that nearly all of these tools are aimed at improving interpretation and communication—not replacing judgment. AI can process information quickly, but it doesn’t understand your priorities, your family dynamics, or the tradeoffs you’re weighing during major life decisions. That still requires a human conversation.
Internally, we’ve been thoughtful about how we adopt these tools. We’re already using a system called Jump AI around client meetings and calls to help us capture meeting notes, follow-ups, and action items. That doesn’t change the conversation you have with us—it simply allows us to stay more present during it. Less time spent looking down taking notes means more time listening, asking better questions, and engaging fully.
We’re also using Microsoft Copilot as a research and productivity tool throughout the day. It helps us quickly analyze market developments, review planning concepts, and explore client-specific questions as they come up. Instead of replacing our work, it sharpens it. It allows us to sanity-check ideas, look at issues from multiple angles, and come into conversations better prepared and more efficient with our time.
From an investor perspective, you may not “see” much of this happening—and that’s intentional. What you should notice is clearer explanations, more thoughtful follow-ups, and more proactive conversations. When technology is used correctly, it fades into the background while the traditional advice experience improves.
That said, there are important things AI simply cannot do. It can’t understand what a transition into retirement really feels like. It can’t help navigate the weight of selling a business or supporting a family member through a difficult time. It can’t replicate trust built over years of working together, and it will never fully assess the individual ability to tolerate the risks involved in investing—something that can be very personal and emotional. Those moments still happen face to face, across the table, and through honest conversations.
This balance is something we take seriously. Our firm was built on relationships—personal, long-term relationships with individuals and families. As the industry evolves, our responsibility is to adopt tools that help us serve you better without losing what made our practice what it is in the first place.
Looking ahead, AI will likely continue to evolve quickly. New tools will emerge, and expectations will continue to shift. We will stay on top of those changes because we believe it’s part of our responsibility to do so. But our philosophy will not change. Technology should support the relationship, not replace it.
At the end of the day, good advice still comes down to understanding people, helping them make informed decisions, and walking alongside them through every stage of life. AI can help us do that more effectively—but it will likely never be the reason clients choose to work with us.
We appreciate the trust you place in our team to help nurture your legacy, and we do not take that lightly. As always, please reach out if you have any questions or would like to discuss this further.
Q2 2026
[1] Schwab AI-powered Portfolio Insights
[2] Altruist introduces AI-powered tax planning in Hazel – Altruist
[3] AI Tools for Retirement Withdrawal Planning | Mezzi
