Adventurous advisors will boldly go toward AI; the deferred comp battle hits Merrill; tech and the C-suite

TECHNOLOGY: The AI revolution opens up opportunities for financial advisors to more fully embrace the most human aspects of their roles, writes Brian McLaughlin of Orion .

AI acts as a potent enabler, allowing advisors to assume a unique position in clients’ lives that no one, and definitely no software, can fulfill — that of a tangible, empathetic guide navigating clients through some of the most important decisions they will ever face. Exploring AI’s possibilities with an open mind and experimenting with new tools can pay off for advisors’ practices. But a baseline understanding of the technology is essential.?

Read: Advisors: Be the Indiana Jones of your own AI adventure

REGULATION AND COMPLIANCE: The fight over deferred compensation for advisors who have left their firms has now spilled over to Merrill.

A putative class action suit filed in federal court in North Carolina late last month alleges Merrill owes Kelly D. Milligan, an advisor in Danville, California, $500,000 in deferred comp he earned over the course of his 21-year career at the wirehouse. Underlying Milligan's claims are arguments lawyers separately used to wring a more than $3 million arbitration award out of Morgan Stanley in March. Namely, Milligan is arguing that Merrill's deferred compensation policies violate the Employee Retirement Income Security Act of 1974, or ERISA.?

Read: Fight over deferred comp comes to Merrill's door

PROFESSIONAL DEVELOPMENT: Technology has not only disrupted the wealth management industry but it's also changing the traditional C-suite structure — and how firms attract tech talent.?

There's no longer just one chief technology officer or chief information officer overseeing a firm's entire tech program. Nowadays, it's not unusual for different C-suite officers to lead certain tech implementations or for the firm to create new positions to attract talent and growth. But for some leading innovators in wealth management, this change in the C-suite landscape has been a welcome challenge.

Read: How tech is changing the C-suite ladder

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