AI for Advisors

In this “Canuck episode” of AI for Advisors, Mark Heynen and James Cantwell are joined by Jason Pereira and Ken Lotocki for a distinctly Canadian perspective on AI in wealth management. From adoption and compliance to planning software and product design, they explain why the conversation north of the border is different — and where US firms may be getting distracted by hype.Jason brings the skeptical operator’s lens, arguing that most AI failures come from broken implementation, not broken technology. Ken brings the builder’s perspective from Conquest, sharing how auditable planning engines, next-best-action systems, and practical AI workflows are shaping adoption across Canada, the US, and the UK.Together, they unpack where AI is real, where it is table stakes, and where the industry is still fooling itself.00:00 – Jar Jar, Star Wars, and the Machete cut (IYKYK)03:55 – The Canadian Perspective on AI Adoption06:40 – Why Most WealthTech AI Still Fails10:40 – What Conquest Is Building Beyond LLM Hype18:55 – Why “Next Best Action” Changes Planning25:00 – MCP, Ask Sam, and Open Planning Systems32:10 – Selling AI in Canada vs. the US vs. the UK39:00 – Is Canada Really Ahead on AI Adoption?45:15 – Privacy, Governance, and Compliance North of the Border46:25 – The Big Nevis Raise and Silicon Valley in WealthTech52:05 – Most Overhyped and Underhyped AI Use Cases58:10 – Why Nobody Wants to Build a CRM59:05 – Canada vs. America: Productivity and Hockey(NB: Recorded before the Olympics — Canadian pride remains intact.)Learn more about Jason Pereira | WoodgateWebsite: ⁠https://jasonpereira.ca⁠LinkedIn: ⁠https://www.linkedin.com/in/jasonpereira⁠Learn more about Ken Lotocki | Conquest PlanningWebsite: ⁠https://www.conquestplanning.com⁠LinkedIn: ⁠https://www.linkedin.com/in/ken-lotocki⁠Learn more about Mark Heynen | James Cantwell | AI for Advisors PodcastLinkedIn: ⁠https://www.linkedin.com/in/markheynen⁠Website: ⁠https://www.knapsack.ai/⁠LinkedIn: ⁠https://www.linkedin.com/in/jamescantwell⁠Website: ⁠https://www.wealthtechselect.com⁠YouTube: ⁠http://www.youtube.com/@AIforAdvisorsPodcast⁠

Ritik Malhotra shares insights on AI culture shock, his background, and the challenges of transitioning from tech entrepreneurship to wealth management. He discusses the advantages of an outsider's perspective in the industry and the challenges of implementing innovative solutions in the wealth management space. The conversation digs into the challenges of client transitions, the hybrid approach in RIA technology, the debate between best of breed and full stack solutions, AI integration in wealth management, and the impact of note takers and AI. The discussion highlights the complexities and limitations of AI integration, the evolving role of note takers, and the unsolved problems in wealth management AI.TakeawaysComparison of AI conversations in different metro areasThe benefits of an outsider's perspective in the wealth management industry Challenges of client transitions involve legal, people, and custodian integration issuesThe hybrid approach in RIA technology addresses the needs of independent advisorsThe limitations of best of breed solutions and the value of customizabilityThe complexities and challenges of AI integration in wealth managementThe evolving role and future implications of note takers and AI in wealth managementChapters00:00 AI Culture Shock24:08 Introduction to Ritik 31:08 Advantages of Being an Outsider39:06 Navigating Client Transitions45:00 Best of Breed vs. Full Stack56:09 The Impact of Notetakers and AI

Michael Kitces, chief planning strategist and industry researcher, offers a pragmatic take on AI and advisory productivity. He debunks AI hype and AGI timelines. He explains how team leverage and client affluence drive revenue-per-advisor. He contrasts tech used for quality versus mere efficiency and discusses realistic time savings from AI note-takers.

In this episode of AI for Advisors, Mark Heynen and James Cantwell talk with Jason Wenk, founder and CEO of Altruist, about building a modern custody platform from scratch and why infrastructure matters more than software. They discuss Jason’s journey from FormulaFolios’ 14,000% growth to raising nearly half a billion dollars for Altruist, his early (failed) attempts to pitch AI to advisors in 2018, and the strategic acquisition of Thyme to build Hazel. The conversation covers the economics of custody, why being multi-custodial creates unnecessary pain, data ownership debates, and whether note-taking is already commoditized. They also dive into Robinhood’s TradePMR acquisition and what makes a successful wealth tech company in 2025.Key Takeaways: Custodial infrastructure is the bottleneck—great AI on bad infrastructure just creates faster pain as you scale.Advisors unanimously rejected AI in 2018; ChatGPT changed everything by making AI feel accessible and trustworthy.Note-taking is commoditizing fast; differentiation comes from agentic workflows and deep custodial integration.Data should belong to advisors, but open APIs need thoughtful controls to maintain platform reliability.Technical moats in AI are minimal—go-to-market execution and distribution matter more than product features.​​​​​​​​​​​​​​​​Learn more about Jason Wenk | AltruistWebsite: https://altruist.com LinkedIn: https://www.linkedin.com/in/jasonwenk Learn more about Mark Heynen | James Cantwell | AI for Advisors PodcastLinkedIn: https://www.linkedin.com/in/markheynen Website: https://www.knapsack.ai/ LinkedIn: https://www.linkedin.com/in/jamescantwell Website: https://www.wealthtechselect.com YouTube: http://www.youtube.com/@AIforAdvisorsPodcast Spotify: https://open.spotify.com/show/4z1NMErEJ5lxMe0aaO5w8W 

In this episode of AI for Advisors, Mark Heynen and James Cantwell talk with Rajesh Jayaraman, founder and CEO of Flextract, about solving wealth management’s most painful onboarding problem. Rajesh shares his journey from Yodlee and Ellevest to tackling the document-heavy nightmare that forces advisors into three-meeting cadences lasting months. They discuss why Google Gemini won the model race for document processing, the security considerations of using consumer AI tools with client data, and how the SPAR framework helps evaluate AI outputs. The conversation covers the SEC’s landmark AI conflict rule, the platform versus point solution debate, and whether voice interfaces are finally ready for mainstream adoption.Key Takeaways: Wealthy clients have the worst UI—onboarding takes months and multiple meetings just to collect documents.Google Gemini wins for document processing with superior long context windows and native PDF handling.Flextract discarded massive amounts of code as AI evolved—OCR pipelines became obsolete overnight.Use paid AI tools (training off) for one-offs; purpose-built solutions prevent “chat fatigue” from managing dozens of prompts.The SEC’s AI conflict rule requires proving AI doesn’t advantage advisors over clients—a potential Sarbanes-Oxley moment.Model providers face a “winner’s curse”—innovation becomes commoditized within days of release.Voice interfaces work as an added modality but won’t replace everything—efficiency and context still matter.​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Learn more about Rajesh Jayaraman | FlextractWebsite: https://flextract.com LinkedIn: https://www.linkedin.com/in/rajeshjayaraman Learn more about Mark Heynen | James Cantwell | AI for Advisors PodcastLinkedIn: https://www.linkedin.com/in/markheynen Website: https://www.knapsack.ai/ LinkedIn: https://www.linkedin.com/in/jamescantwell Website: https://www.wealthtechselect.com YouTube: http://www.youtube.com/@AIforAdvisorsPodcast Spotify: https://open.spotify.com/show/4z1NMErEJ5lxMe0aaO5w8W

In this episode of AI for Advisors, Mark Heynen and James Cantwell welcome two founders building critical AI infrastructure for wealth management: Max Klein, co-founder and CEO of LEA, and Mike Wilson, CEO of Hamachi.ai. Fresh from the Advise AI conference in Vegas, the group digs into the backend systems that power front-office tools—from client data orchestration to compliant email drafting. They debate whether CRMs are dying, discuss adoption strategies for B2B AI startups, and explore Orion’s Denali AI announcement. The conversation touches on everything from switching costs and user friction to why email might outlive its reputation as a “dying technology.”Key Takeaways: Backend infrastructure beats shiny objects—unsexy problems like data extraction and compliant communications enable everything else.Hamachi redacts all PII before LLMs process emails—compliant drafting without exposing client data to AI models.Traditional CRMs are artifacts of the ’90s—AI can surface “Scruffy was sick” without custom database fields.Orion’s Denali is the first enterprise AI overlay—querying portfolio and CRM data in natural language, not just CRM intelligence.Zero-friction tools win adoption—note-takers succeeded because they require no clicks; platform switching costs remain prohibitive.​​​​​​​​​​​​​​​​.​​​​​​​​​​​​​​​Learn more about Max Klein | LEAWebsite: https://www.getlea.io LinkedIn: https://www.linkedin.com/in/maxdklein Learn more about Mike Wilson | Hamachi.aiWebsite: https://hamachi.ai LinkedIn: https://www.linkedin.com/in/michael-wilson-inc Learn more about Mark Heynen | James Cantwell | AI for Advisors PodcastLinkedIn: https://www.linkedin.com/in/markheynen Website: https://www.knapsack.ai/ LinkedIn: https://www.linkedin.com/in/jamescantwell Website: https://www.wealthtechselect.com YouTube: http://www.youtube.com/@AIforAdvisorsPodcast Spotify: https://open.spotify.com/show/4z1NMErEJ5lxMe0aaO5w8W

In this episode of AI for Advisors, Mark Heynen and James Cantwell talks with Ryan Eisenman, CEO of Arch, which builds digital admin infrastructure for private markets, and Jacob Miller, Chief Solutions Officer of Opto Investments, a curated investment access platform for advisors. They discuss the infrastructure pain points holding back advisor adoption, Opto’s rigorous 1.4% fund approval rate, and how AI is automating everything from quarterly reporting summaries to diligence workflows. The conversation covers wire fraud detection in an age of AI voice cloning, why blockchain isn’t the answer for private markets, whether we’re in an AI bubble, and practical tools both companies have built to help advisors scale their alternatives practice.Key Takeaways: AI voice cloning is creating wire fraud risks in private markets that traditional callback verification can no longer prevent.Opto’s buyer model rejects 98.6% of funds, focusing on top-quartile opportunities instead of pay-to-play distribution.AI enables screening 10,000+ deals annually, but the final 20% of investment judgment still requires human expertise.Companies stay private longer to avoid compliance costs and quarterly scrutiny, fundamentally changing how value creation happens.Blockchain and tokenization don’t solve core private market needs—investors require counterparty trust and legal recourse.Real productivity gains and low leverage separate this AI wave from past bubbles like the dot-com era.Learn more about Ryan Eisenman | ArchWebsite: https://arch.co LinkedIn: https://www.linkedin.com/in/ryan-eisenman-21811246 Learn more about Jacob Miller | Opto InvestmentsWebsite: https://www.optoinvest.com LinkedIn: https://www.linkedin.com/in/jacob-m-08b32967 Learn more about AI for Advisors PodcastLinkedIn (Mark Heynen): https://www.linkedin.com/in/markheynen LinkedIn (James Cantwell): https://www.linkedin.com/in/jamescantwell YouTube: http://www.youtube.com/@AIforAdvisorsPodcast Spotify: https://open.spotify.com/show/4z1NMErEJ5lxMe0aaO5w8W

In this episode, Mark and James speak with Victoria Toli, Co-founder and President of Finny, and Arnulf Hsu, Founder and CEO of GReminders, about how AI is redefining client acquisition and engagement in the wealth management industry amid the $100 trillion Great Wealth Transfer.Victoria shares how Finny helps advisors achieve true organic growth through AI-driven, hyper-personalized outreach that scales trust and relationships — challenging the notion that advisors are slow to adopt technology. Arnold discusses how GReminders automates the entire meeting lifecycle, saving advisors hundreds of hours each year and allowing them to focus on delivering more meaningful client experiences.They explore how AI is enabling advisors to compete at scale, why personalization still wins in a digital-first world, and how the industry’s next wave of innovation could bring about the “one-person, billion-dollar RIA.” The conversation closes with a take on OpenAI’s new Atlas browser and what integrated AI agents could mean for the future of wealthtech platforms.The Great Wealth Transfer is accelerating demand for smarter, tech-enabled client acquisition.Finny’s AI platform enables organic growth through hyper-personalized communication.GReminders automates scheduling, follow-ups, and meeting notes, saving up to 600 hours per advisor per year.AI adoption among advisors is higher than most assume — especially when tied to clear ROI.Private equity consolidation and compliance are driving faster tech integration across firms.Authentic, human-like engagement remains central to effective AI use.The future of wealth management could see solo RIAs powered by deeply embedded AI assistants.Learn more about the guests:Victoria Toli | Finny LinkedIn: Victoria ToliKey Takeaways:Arnulf Hsu | GReminders LinkedIn: Arnulf Hsu

Explore the forefront of AI for wealthtech with insights from industry leaders at the Advise AI conference. This episode features conversations with representatives from Orion, CommuniFi, Mutify, Knapsack, Conquest Planning, Fini, Syntax, Alpathena, FinMate AI, Advisor CRM, AIdentified, Meetings Hub, and Egnyte. Discover how these companies are revolutionizing data management, client engagement, and financial planning for advisors. Tune in to learn about the latest innovations and how they're shaping the future of the financial advisory landscape.

In this conversation, Joe Moss discusses the evolving landscape of Customer Relationship Management (CRM) systems in the context of artificial intelligence (AI). He identifies two main categories of AI integration: integrated AI CRMs and AI overlays. Moss emphasizes that larger Registered Investment Advisors (RIAs) are more likely to adopt AI features as overlays rather than switching to entirely new CRM systems. This reflects a trend towards enhancing existing technologies with AI capabilities rather than overhauling them completely.TakeawaysThere are two main categories of AI in CRM: integrated and overlays.Larger RIAs are likely to use AI overlays instead of switching CRMs.The small RIA space is seeing different trends compared to larger firms.AI features are being added to existing CRM systems.The trend is towards enhancing rather than replacing technology.Big RIAs are not inclined to switch off their current CRM systems.AI overlays can provide significant enhancements to existing CRMs.The integration of AI is becoming essential in the finance sector.Understanding the needs of small vs. large RIAs is crucial.The future of CRM systems is increasingly AI-driven.