Goldman Sachs had its largest class of new private wealth advisors ever, even as AI can do more of the job
Source: Business Insider ·
AI may soon be able to model a clients whole portfolio, but wealth advisors aren't going away. That's why Goldman is hiring more than ever.
From the source
Whitney Pigott, new private wealth advisor, John Mallory, co-head wealth management, and Beau Burbach, new private wealth advisor.Goldman SachsGoldman Sachs hired over 120 private wealth advisors into its advisor boot camp this year, a record.AI is taking on grunt work and even some modeling. But there's a lot it won't be able to do.The importance of relationships for the wealthiest clients has Goldman betting on more advisors.Goldman Sachs is betting that professionals who counsel the wealthy will have a strong future in the age of AI.The bank brought more than 120 new private wealth advisors into its four-week new private wealth advisor boot camp this summer, its largest class ever, and 30% larger than last year's.AI chatbots, which are increasingly capable of doing more of an advisor's work, may be able to serve the needs of many middle-class and mass-affluent investors. But managing a fortune requires navigating thorny situations like helping a billionaire plan how to split their…