Summary

In Episode 23 of Zero Basis Points, Haik Sahakyan and George Guidotti are joined by Davis Janowski, Head of Journalism at WealthManagement.com, to discuss how technology is reshaping the wealth management industry. They talk about the growing number of AI solutions, the challenge of separating real innovation from hype, and why smaller advisory firms struggle to keep up. The conversation covers the rise of AI-powered tools, Vanguard’s acquisition of Altruist, and the need for custodians to become more open to innovation. They also explore whether AI-driven lead generation can actually help advisors grow and why the industry still relies so heavily on referrals and acquisitions. The episode looks at how AI can create capacity, reduce operational costs, and make financial advice accessible to more people.

Key Topics Covered

Key Topics Covered:

• Davis Janowski’s perspective on the evolution of wealthtech
• The growing AI hype and how advisors can separate innovation from marketing claims
• Why smaller advisory firms struggle to keep up with rapidly changing AI technology
• The rise of AI-powered point solutions and what it means for the wealthtech ecosystem
• Vanguard’s acquisition of Altruist and the future of custodial technology
• Why custodians need to become more open, flexible, and supportive of innovation
• Whether AI-powered lead generation can actually help advisory firms grow
• How AI can create capacity, lower operating costs, and make financial advice accessible 

Timecode

00:00 Meet Davis Janowski

02:02 Davis’ Journey Through Technology Journalism

04:04 What Does Agentic AI Really Mean?

07:40 The Growing Complexity of WealthTech for Advisors

10:40 How Advisor Technology Has Evolved

13:50 Is WealthTech Heading Toward a Startup Bubble?

18:34 The Rise of AI-Powered Point Solutions

20:11 Data Lakes and the Changing AI Landscape

22:36 Separating Real AI Innovation from Hype

26:02 Should WealthTech Be Worried About Claude?

28:41 What the Vanguard and Altruist Deal Means 

35:52 Why Are Custodians So Resistant to Change?

38:42 The Real Drivers of Growth in Wealth Management

42:06 Can AI Create More Room for Organic Growth?

47:03 Why Won’t Tech Providers Share Their Pricing?

51:02 Final Thoughts on Using AI to Serve More People 

About Guest

Davis Janowski

Senior Technology Editor

Davis Janowski is a New York-based technology journalist with extensive experience covering fintech and wealth management. He began covering advisor technology in 2007 as the industry’s first dedicated technology reporter at InvestmentNews. His career also includes roles at PC Magazine, Forrester Research, Wealthfront, and FeeX (now Pontera). His work has appeared in The New York Times, Financial Planning, RIABiz, and other industry publications. Today, as Head of Journalism at WealthManagement.com, he continues to cover the technologies and trends shaping the industry.

Where to find Davis Janowski:

If you want to follow Davis’ work or connect directly: 

LinkedIn: https://www.linkedin.com/in/davisjanowski/

X: https://x.com/ddjanowski 

Read his latest articles:

https://www.wealthmanagement.com/author/davis-janowski