The future of financial advisory is about to change with the rise of the “RIA of 1,” where a single advisor is supported by AI agents and applications, transforming the industry’s efficiency and structure.

AI-powered tools will streamline advisory firms’ processes, enabling them to prospect, convert, onboard clients, manage portfolios, and generate personalized reports. Autonomous AI agents will handle operational tasks, freeing up human advisors for strategic planning and client interaction.

Individual investors will benefit from more personalized and responsive advice, thanks to AI. The lower cost of delivering advice will make quality financial planning accessible to more people, particularly middle-income families and younger generations, challenging predictions of an impending advisor shortage.

The industry faces questions on how AI will reshape its structure. Will larger firms gain an advantage over smaller RIAs through internal tech development, or will smaller firms transform themselves with AI partners? Early adoption and integration of AI will be crucial for firms to stay competitive in the evolving landscape.

Read more at CNBC: Op-Ed: AI wealth management