Wealth management star Dimple Shah joins Humanity Labs to help drive AI push

Former Osaic executive Dimple Shah, widely regarded as a rising star in the wealth management industry, has been hired by AI managed service provider Humanity Labs, the company announced Wednesday.

Shah's background in client experience makes her a key hire for Humanity Labs, a company selling behavior change, not just software.

Given her status in the industry, Shah’s recent departure from Osaic garnered plenty of attention. One senior industry executive, who spoke privately with InvestmentNews when the news was reported in May, described her as “an extraordinary executive” and said that her departure was a loss for Osaic. Another senior industry executive said they were “shocked” to see Shah go.

Shah served as executive vice president, strategy and client experience at Osaic, after joining the giant network of broker-dealers and registered investment advisors in 2022. Prior to joining Osaic, Shah held executive roles at LPL Financial, Oliver Wyman, Hewlett-Packard, and PayPal.

Advisory firms' growing demand for AI

At Humanity Labs, Shah will serve in the newly-created position of managing director, wealth, as the company looks to tap into growing demand for AI from financial advisory firms. Humanity Labs provides what it describes as an AI-powered digital workforce to wealth management firms.

The company emerged from stealth in October and is backed by investor Vestigo Ventures, the financial technology and venture capital investor cofounded by former LPL Financial CEO Mark Casady.

Humanity Labs works with RIAs, independent broker-dealers and wealth management enterprises. Humanity Labs says that its AI Workforce managed service is designed to operate inside a firm’s existing systems and workflows, and can improve complex, time-consuming functions such as client onboarding, account opening, compliance review, client reporting, meeting preparation, billing, alternative investment operations and M&A support.

In a statement, the AI specialist said that Shah will work closely with its engagement team to help wealth management firms understand how to harness the capabilities of AI Workforce. Shah’s focus will be on expanding partner relationships and helping firms identify high-impact opportunities to use the technology across operations, client service and growth, it said.

“Advisors and client-facing teams want to spend more time on personal relationships and strategy, but too often they are consumed by manual processes, fragmented systems and repetitive tasks,” said Shah, in the statement.

AI adoption among independent RIAs is accelerating rapidly, according to research released in January by Schwab Advisor Services. The study, which was conducted in late 2025, found that 63% of firms are using AI in some capacity, more than doubling from 2023.

Early days in the AI revolution

However, it is also relatively early days in the AI revolution, underlining the scale of the opportunity that Humanity Labs is keen to seize. The latest Advisor Wealthtech Survey by Orion, released in February, found that while about three quarters of advisory firms are using AI in some capacity, just 6% are utilizing agentic workflows and only 5% have implemented cross-system AI integration.

Humanity Labs says that wealth management firms are increasingly looking beyond standalone AI tools toward embedded AI models that can support end-to-end workflows and improve execution.

Key figures in the wealth management industry have been vocal about the pros and cons of AI. In April, for example, Raymond James CEO Paul Shoukry said that it is improving the relationship between advisors and clients but also acknowledged the technology's limitations.