Solutions for the Coming Financial Advisor Shortage

Imagine a world where clients outnumber financial advisors by such a wide margin that investors struggle to find guidance when they need it most. That world isn’t decades away — it’s unfolding right now.

A recent McKinsey article highlights this growing challenge in wealth management: a looming shortage of financial advisors at the very moment demand for personal financial guidance is reaching new heights.

According to the study, more than 100,000 financial advisors — roughly 40% of the workforce — are expected to retire by 2034. This is leaving firms with a critical decision: who – or what (i.e., artificial intelligence and robo-advisors) – will take their place?

While this may seem like an industry crisis, it also presents an opportunity for forward-thinking advisory practices, individual financial advisors who are eager to try a new model, and financial services partners capable of providing scalable practice management solutions.

Unlock Productivity with Technology (Without Losing the Human Touch)

With the rise of robo-advisors and AI-driven tools, some might assume technology can bridge the gap between investor demand and advisor availability. However, while automation can handle routine tasks, it can’t replace the emotional intelligence and personal connection that define great wealth management.

The sweet spot is unlocked when financial advisors use digital tools to create capacity and increase efficiency.

The McKinsey study found that even a 30-40% average advisor adoption of relevant AI tools and processes can deliver 6-12% time savings by 2034. Areas ripe for outsized impact include:

• Preparing for client meetings
• Creating financial plans and proposals
• Managing day-to-day tasks
• Conducting investment research

In my view, the same message said another way is this:

Top financial advisors spend their time only on high-impact activities, like client service and business development, the work that requires a human touch (and where the human touch can be a differentiator for the practice). Everything else is outsourced, systematized, and/or automated to make for a scalable practice.

– The Elite Advisor Playbook

When markets get rocky or major life decisions loom, clients don’t just need numbers — they need perspective, reassurance, and a financial advisor who understands their personal journey. The firms most likely to succeed in the coming years will be the ones that blend data-driven insights with real-world experiences while leveraging technology to streamline repeatable work.

The Future Belongs to Financial Advisors & Firms Willing to Act

The shortage of experienced advisors doesn’t have to be a crisis for you; it can be a call to action.

Ultimately, the future of wealth management belongs to those who don’t just react to change — but actively shape it. The opportunity is here. The only question is: Who – and what – is ready to take it?

At Blueprint Investment Partners, we are committed to helping financial advisors thrive in this changing landscape. By providing the tools, support, and efficiencies that help advisors run their firms more effectively, we enable them to focus on what truly matters: growing their practices, delivering exceptional client service, and fortifying their businesses for the future.