By Jeff Nash
In 2025, over 11,000 experienced financial advisors (those with 3-plus years in the industry) switched firms. This represents a 16% increase from the previous year, and I believe it is likely an indication of future trends as attrition from the wirehouse channel in favor of the independent model continues apace.
Whether introducing new affiliation options, business models and deal structures or leveraging capital infusions from PE backers to build out infrastructure and develop proprietary tech, independent firms, particularly RIAs, are proving to be more nimble, dynamic and advisor-centric than traditional wirehouses. Breakaways, both individuals and teams, have their own reasons for making a move, but the core deliverables of flexibility, control, the opportunity build enterprise value and the freedom to serve their clients their way, are inherent attributes of the independent channel. The success of each of these elements is inextricably tied to technology. And no conversation about technology can ignore AI.
In today’s environment, agentic AI-driven tasks that automate workflows and execute administrative tasks such as note-taking and meeting synopses are considered table stakes for most advisors. There’s no question that a firm’s tech stack can help drive practice growth and elevate the client experience. But what specifically resonates with recruits? The due diligence process offers financial advisors and recruiting teams the opportunity to define expectations and determine if there is alignment. To learn more about what these conversations may sound like and how big a role AI plays in these discussions, I spoke to three wealth management industry executives:
- Peter Dun, CEO & Co-founder, Feathery, an AI data intake and workflow platform for wealth management firms
- Sid Yenamandra, Founder and CEO of SurgeONE.ai, a platform designed to provide complete compliance, cybersecurity and data services for the wealth management industry
- Andrew Christofferson, President and CEO, Subsidiaries, Berthel Fisher Companies, a leading wealth management, investment management and insurance solutions provider that supports financial professionals through an array of wealth management business models
Jeff Nash: What AI tools and functionality are advisors discussing most and what pain points are they looking to mitigate?
Peter Dun: Two areas consistently come up: transition friction and data intake. Advisors want to move faster without increasing compliance risk or overwhelming operations teams with manual work. That pressure shows up across onboarding new clients, changing firms and absorbing an acquired book.
Intelligently scanning uploaded paperwork, such as investment statements and tax forms, is where we see the most urgency. It eliminates the manual data extraction and reconciliation that used to take weeks and often introduced errors. AI notetakers that sync meeting notes directly to CRMs are another major focus, with pre-filling paperwork close behind. What advisors ultimately want is straightforward: more time back and confidence that nothing falls through the cracks when the stakes are high.
JN: AI-centric cybersecurity and data-governance concerns remain front of mind for financial advisors in motion. What tools can firms employ to demonstrate they have guardrails in place to meet current regulatory standards?
Sid Yenamandra: Financial advisors looking to switch affiliation are understandably curious about a firm’s tech stack, especially its plans for integrating AI to help the advisors scale their businesses, employ data seamlessly and set them up for organic growth. But advisors can’t just be impressed by the bells and whistles trotted out during a home-office visit. Potential recruits need to be comfortable that a firm’s AI strategy enhances critical areas like compliance, data governance, vendor management and cybersecurity. There are many AI tools coming to the marketplace that claim to do it all, but the responsibility of wealth managers cannot be delegated to technology. Advisors should ask if there is human supervision in the loop who is accountable for outputs, decisions and disclosures generated by AI systems. If an enterprise seems more focused on the hype and promise of AI than the hard work of making sure innovation protects advisors and allows them to grow faster, they should look elsewhere.
JN: In your experience, how focused are recruits on a firm’s AI-driven capabilities?
Andrew Christofferson: AI comes up in nearly every recruiting conversation right now, but a lot of that reflects industry headlines more than what advisors are actually prioritizing day-to-day.
In my experience, advisors want efficiency, and they welcome tools that give them more time back. They’re interested in technology that helps streamline work and improve the client experience. At the same time, the advisors we talk to care deeply about the human side of the business. Face-to-face relationships, personal judgment and the ability to understand what a client needs in the moment still matter.
Advisors recognize that AI is becoming part of their toolkit. But most have little interest in turning the profession into a fully digitized experience.
Jeff Nash is Chief Executive Officer and Co-Founder of Bridgemark Strategies, a national consultancy firm that helps financial advisors evaluate and execute transitions – from changing broker-dealers to starting or joining an RIA – and also provides comprehensive M&A, succession planning, and buy/sell guidance within the financial advisory space.
Bridgemark Strategies is a Strategic Partner Firm of Ascentix Partners Network, the alliance of elite independent consultancies focused on driving growth for wealth enterprises.
