BLOG

Practice management trends for financial advisors in 2026

This is part one in a series of articles about some of the practice management trends happening for financial advisors in 2026 and beyond. Preparing your practice and your business model for the future is what separates elite advisors from average financial advisors.

Trend one- AI artificial intelligence

I get asked all the time about artificial intelligence for financial advisors. The simple answer is every piece of software you use will have artificial intelligence built into it. This will help you build your text stack faster so focus on the technology that has AI built into it. This would include your financial planning software, meeting presentation software, note taking software, CRM software and more. For example I like using fathom which prepares a comprehensive summary at the end of all of my meetings. https://fathom.video/    Remember always check with compliance before proceeding with any software. 

Trend two - succession is on fire

Depending on which research you follow, it has been said that one in four financial advisors will not be here in five years. There will be 25% of the financial advisors retiring and transitioning in the next five years. If you are a growing advisor then you need to put together resources to take advantage of this trend. For example I have been building out an equity exit program for financial advisors over the last few years. This includes valuation experts, lending experts, marketing experts process experts, technology experts and head hunting experts to help financial advisors transition successfully. Think about this. You have been a solo advisor throughout your whole career and now in your transition you're going from a solo to a team. That is why building teams is the number one challenge for financial advisors in the industry today. Do you need help going from a solo to a team in your transition and succession plan?

Trend three - lack of training in the financial services industry

Financial advisors are bringing on associate advisors at a record pace. They are also bringing on additional staff members and teams are growing. While there are challenges finding the right people the biggest challenge I ask advisors all the time is what is your training program look like. The most common answer is we don't have one. Training or lack of is a big issue in the financial services industry especially for growing teams. That is why a lot of financial advisors retouched to a coach or coaching companies so they can deliver training and training programs to their associate advisors and their staff. Most of the training is now outsourced because it became very expensive. How much are you going to invest into your people this year. According to business health in Australia the average advisor trains staff 10 hours per year. If your firm has a training program make sure you take advantage because you know investing in your people is a great investment. We have no problem buying new software for an ongoing monthly cost. Why not invest in training add an ongoing monthly cost?

How to prepare for future trends

 First go through your text stack and see what programs have artificial intelligence. Have a staff member learn how you may be able to use artificial intelligence with the software you're using. 2nd keep an eye on opportunities to grow your practice through acquisitions if that's part of your business plan. Speak to people such as wholesalers and branch managers who are in the know of advisors considering succession and selling down the road. Finally tap into people who have access two training resources that could help yourself your financial advisors you're associates and your team accelerate faster so you can get ahead of the curve and be a future ready financial advisory practice. #futurereadyfinancialadvisor  Part 2 will discuss other trends in practice management for financial advisors, stay tuned.

How About Your Goals for Your Practice in 2026? 

Download our updated Comprehensive Practice Management Checklist 

· Get a copy of our Updated 42-page Comprehensive Practice Management Strategies Checklist by clicking here: https://practicemanagement.getresponsepages.com/

· Fee Audit Checklist for Ideal Prospects: click here https://feeaudit.getresponsepages.com

We are here to serve your practice, 

To book a NO obligation appointment with us to discuss practice management or coaching click 

Jeff Thorsteinson https://calendly.com/jeffthorsteinson/30-minute-q-a-explore-apm 

Grant Hicks CIM https://my.timetrade.com/book/JMTNJ and let’s talk

Join our weekly Practice management Equity Builder Blog 
https://www.advisorpracticemanagement.com/blog

Take our Marketing course

https://advisorpracticemanagement.thinkific.com/courses/marketing