This week, Jack Sharry talks with Vlad Golyk, Partner and Leader of McKinsey's North America Wealth Management Practice. Vlad works closely with wealth and asset managers, focusing on growth, transformation, and the evolution of operating models. He is a co-author and lead contributor to two recently released reports, The Looming Advisor Shortage in US Wealth Management and US Wealth Management in 2035: A Transformative Decade Begins.

Vlad talks with Jack about the forces that will shape wealth management over the next decade. He highlights significant challenges, particularly advisor capacity, which is becoming one of the industry's most critical concerns as demand for financial advice continues to rise while the advisor workforce ages and declines. Vlad also explains how advisory firms can build an operating model that delivers holistic advice while addressing advisor shortages.

In this episode:

(00:00) - Intro
(01:40) - Why growth, productivity, advisor models, and AI are interconnected
(04:53) - The looming advisor shortage in wealth management
(10:12) - The power of AI in the modern advisory world
(18:15) - Monetizing AI: AI-powered guidance and new revenue opportunities
(22:08) - What makes a successful wealth management operating model
(26:14) - Vlad's interests outside of work

Quotes

"If you're only building for today's clients who want the human advisor enhanced by technology, you might be optimizing a model that the next wave of accumulators will never opt into." ~ Vlad Golyk

"Investors are clear about the role they want AI to play today. They want it as a guidance layer, not an autonomous agent." ~ Vlad Golyk

"Build a blended experience where AI handles analytical throughput and the human shows up at moments of highest emotional and financial stakes. Investors want that, they pay for it, and they want it from the advisor." ~ Vlad Golyk

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