AI is rewiring the wealth management business model

BCG

Renaud Fages

Research

10 Pages

Boston Consulting Group argues AI will not eliminate wealth management, but it will sharply stratify winners and laggards. The clearest opportunity is not just cost cutting, since AI-first firms could lift conversion, unlock advisor capacity, and reshape service models.

Key Takeaways

AI Changes Economics: BCG estimates AI-first firms can improve conversion by 10% to 25% and raise revenue per advisor by 15% to 20%.
Capacity Gets Unlocked: Planning, portfolio management, and servicing make up 35% to 45% of costs and could unlock 25% to 30% capacity.
Human Trust Remains: Roughly 60% to 70% of advisory sub-activities can be AI-driven or AI-augmented, while 30% to 40% stay human-led.
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