Almost every advisor now believes automation can improve their practice. And when names like McKinsey and Bain Co. publish glowing reports that promise the technology will transform the industry, it’s hard to blame them.
But what if the standard case for automation is wrong?
Recent surveys find that twice as many advisors use automation for back-office tasks as do for marketing. Those tasks are dull and repetitive; nobody would argue against automating them. But the focus on labor-saving and efficiency leaves out the technology’s best use case: driving sustainable growth.
This article makes the case for rethinking AI within wealth management. We’ll explore how consistent marketing execution can drive measurable AUM growth, with tactical-level guidance to make it work within your firm.
The Standard Case for Workflow Automation: How Most Advisors Leverage AI
Most industry voices and consultants see automation through the lens of efficiency. Lower costs, faster decisions, and more time for value-added activities are the kinds of benefits most commentators claim automation will deliver.
Bain Co. recently reported that some firms have already cut operational spend by 30-45% using automation of this kind. From plan design and administration to reporting, Bain claims that firms can cut labor and unlock profits previously whittled away on internal inefficiencies and operational bottlenecks.
Their report finds that advisors see automation as a means to achieve:
- Improved service quality and accuracy (55%)
- Better financial controls and lower risk (44%)
- Increased standardisation of processes (42%)
That narrative is intuitive, evidence-backed—and missing a crucial piece of the puzzle. Automation can boost efficiency, and efficiency gains are easily measured (and therefore rewarded) But for most firms, streamlined operations are far from the most urgent goal.
Charles Schwab’s last study of independent advisors found that firms have three clear priorities:
- Increasing new clients (71%)
- Raising AUM per client (59%)
- Driving more referrals (55%)
These goals all focus on growth, not saving money or time. Other studies find the same emphasis on organic expansion, improved service, and client acquisition.
Now, does that mean advisors don’t want the kind of lean, efficient future Bain presents?
Of course not; no one gets into the advisory business to file paperwork or manage the back office.
But it does suggest that framing workflow automation as purely a means to cut costs or save time overlooks what matters most to advisors: its powerful potential to enable faster, more scalable growth.
To understand that potential, let’s consider what currently prevents most firms from achieving scalable growth.
The Real Bottleneck of Organic Growth
Ask 100 advisors why their LinkedIn profile is relatively inactive or their firm hasn’t published a blog for two months, and they’ll tell you the same thing: they don’t have time.
Studies repeatedly claim that a lack of time and resources limits business development. Roughly 83% of RIAs cite this as their primary growth barrier, and many believe a little extra time would significantly improve their AUM.
But “time” and “resources” are pretty vague, right? Nobody thinks simply having fewer tasks would lead them to acquire more clients. Instead, the lack of time is a cause of the true problem. And in our experience, the real growth barrier is execution.
Limited bandwidth translates into stuttering attempts at prospect engagement and marketing:
- Campaigns get planned and developed, but often launch late or get lost in compliance quagmires
- Efforts to post on LinkedIn or build a newsletter struggle to maintain a regular cadence
- Content marketing—from lead magnets to SEO blogs—gets routinely deprioritized and never produces significant results
The problem is not time. Each of these activities could take hours, days, or weeks; it depends on the individuals or teams executing them. What advisors really mean when they cite time as a barrier is that they cannot maintain consistency.
To bring the point home, let’s imagine your advisors had 15 extra hours each week to focus on marketing
If they use that time carefully and exhibit discipline, those extra hours will translate into a steady stream of new outreach materials, lead generation campaigns, and ongoing engagement via your chosen social channels.
But it’s possible that it wouldn’t happen. The time might simply get spread across more projects. Campaign briefs are developed and revised, yet they still get stuck in the pipeline. LinkedIn engagement doesn’t increase; posts just take longer to produce.
None of this is inevitable, but it clarifies the point: advisors don’t need more time; they need more consistent execution. And if we know one thing about AI, it’s that it absolutely smokes most humans at consistent execution.
AI as Revenue Driver: The Future of Automation for Financial Advisors
We’ve helped numerous wealth management firms drive growth through automation within their CRM. While very few firms can automate the majority of their marketing, the average firm can implement six steps that will give it a significant advantage over competitors.
Note: While AI can accelerate content production, we’re going to focus on aspects of your marketing system that can be fully automated. The backlash against “AI slop” makes publishing low-quality content actively harmful to firms’ reputations.
1. Automate Fast Lead Follow-Ups
Prospects are never “hotter” than when they first make contact, but that window is very short. If you respond fast enough to capitalize on that initial interest, your chances of driving further engagement or even booking a meeting increase dramatically.
Automation is built for that kind of task. While manual effort is required to ensure your copy hits and your strategy fits, that simple investment pays dividends once the system is established and can scale with almost zero further input.
Key Steps:
- Capture website, webinar, and social leads directly into your CRM automatically
- Create lists to categorize the leads instantly into sub-groups
- Write short, persuasive message templates (ideally email or text) for each category of lead
- Set up triggers to automatically send an email or sequence when leads enter your CRM (We’ve found simple Welcome messages that share your top-performing resources often provide a nice way to engage without overwhelming prospects who might just be dipping their toes in your firm’s waters.)
2. Implement Lead Scoring
Personal outreach is essential to building trust and establishing a real connection with prospects. But your advisors will always have limited time, no matter how many tasks you automate. Not every lead warrants the same level of attention.
Lead scoring gives you a way to separate serious prospects from early browsers—and act accordingly. When the system flags a high-value lead, your team can move fast on the ones that matter.
Key Steps:
- Define scoring criteria based on AUM potential, engagement activity, and demographics
- Build scoring rules inside your CRM that update automatically as leads interact
- Set threshold triggers that fire alerts or start personalized outreach sequences
- Route high-scoring leads directly to senior advisors for immediate follow-up
3. Build Segmented Nurture Campaigns
Advisory leads usually take several months to convert into clients. However, they are likely considering a few other firms at that time; sending them a message every other month will notcut it.
Sharing content regularly (we call these nurture campaigns) is essential to keep your firm top of mind and build trust. Automation once again helps make that easier to achieve at scale with a relatively small ongoing lift.
Key Steps:
- Define your key prospect niches (pre-retirees, business owners, executives, etc.)
- Build dedicated email sequences tailored to the concerns of each group
- Write messaging that moves through each funnel stage
- Set behavioral triggers that shift prospects to a new sequence based on what they engage with
4. Track Pipeline and KPI Dashboards Automatically
Most large firms we speak with report the same issue: leaders often feel disconnected from marketing. They lack visibility into campaigns; they lack data on ROI; and they lack confidence in making decisions about budget allocation or strategic pivots.
When your key metrics update in real time, patterns that would otherwise take weeks to notice become obvious quickly. Visibility improves, trust increases, and everybody feels on the same page about exactly how your growth program works.
Key Steps:
- Define the metrics that matter most: conversion rates, pipeline velocity, revenue per client
- Configure your CRM to track and display these automatically in a live dashboard
- Set up alerts when metrics fall outside expected ranges
- Review dashboards on a regular cadence to catch bottlenecks before they compound
5. Embed Compliance Into Automated Workflows
Scaling outreach creates compliance exposure if the right guardrails aren't built in from the start. Every email, social post, and ad is a potential call from the SEC. But while firms often consider automation to be a compliance risk, it actually has the potential to make your marketing safer.
Key Steps:
- Pre-approve message templates with your compliance team before they go live
- Configure your CRM to archive all outbound communications automatically
- Build required disclosures into relevant templates so they can't be skipped
- Set up audit trail logging so every touchpoint is documented without manual effort
6. Systematize Referral Requests
We’ve focused primarily on acquiring new clients, but automation can also help generate more referrals. Many advisors never ask for referrals; those that do rarely systematize the process to deliver repeatable growth.
Automation can help you build a referral engine by not just asking for referrals more frequently, but actually identifying what works. That data then enables you to refine the messaging and timing of your requests to maximize success.
Key Steps:
- Identify the moments most likely to generate referrals (strong reviews, financial wins, milestones)
- Build automated follow-up sequences that trigger after those events
- Write referral messaging that feels natural, not transactional
- Set recurring reminders so the ask happens consistently, even during busy periods
