Does AI mean young advisors aren't 'paying their dues?'

Young advisors earning their stripes have historically been expected to work almost every available hour of the day.

But manual tasks which may have been previously assigned to young associates are now being completed by AI tools in a fraction of the time, turning the age-old model on its head.

For senior wealth advisor Christian Battistelli, this technological shift is allowing emerging advisors to do more shadowing and less paperwork.

Battistelli says he was lucky to have been provided with extensive mentorship from two advisors at his firm, allowing him to learn the ropes, then rise the ranks to his current position as senior advisor. Instead of knocking on doors or making cold calls, Battistelli was soaking up every detail he could from client meetings. This is something Battistelli would like to see more of in the industry, at he believes it would go a long way in professionalizing the occupation.

“Lawyers don't start their career, cold calling and door knocking, they article. Doctors don't start their careers immediately serving patients, they have residency,” said Battistelli, senior wealth advisor at Assante Financial Management. “It's about time that we enter another phase, where we push for professionalization and to a level where we can eventually be viewed in a similar extent as doctors and lawyers.”

Battistelli said that the industry has its roots in sales, though this model has shifted dramatically over the years. He added that while some long days are certainly to be expected in the business, working untenable hours leads to fatigue and poor performance with clients.

“There's a time and a place for hard work,” he said. "I don't think that has changed, but I think what that looks like may have shifted a little bit. It’s not working 14 hours a day cold calling, we’re trying to work smart.”

Fully embracing technology has allowed Battistelli to remain highly organized, while also being able to complete manual tasks at the click of a button, rather than working on them for a week. He said that most clients buy into his tech-savvy methods, but that he still provides more traditional options for his clients. For example,

When Battistelli first started working at Assante, the firm was

Being around experienced, well-known, advisors has often given Battistelli the feeling of imposter syndrome. But he says he is able to put that feeling to good use, as it pushes him to be even more prepared for every meeting and remain highly curious.

“I think what it does is forces us to be twice as prepared,” he said. “It leaves us more open to asking questions, which ultimately ends up being best for the clients. You're not jumping to conclusions because you've seen similar situations before.”

While older clients may be hesitant to trust the fresh-faced Battistelli with their finances, he is able to point to the tutelage he received from senior members of the firm, presenting himself as an extension of their philosophies. However, bringing in new clients can also be a challenge for young associates according to Battistelli, who said the personal connections older advisors make over their career give them a distinct advantage.

“A lot of the time clients think they’re looking for grey hair, when really what they're looking for is just good ideas and grey hairs don't necessarily always mean good ideas,” he said.