Building the Next-Generation Advisory Team Starts With Balance

There is a lot of discussion about what the “next-generation” advisory firm should look like. Most of it centers on technology, automation, and efficiency. Those are important, but they are only part of the equation.

In my experience, building a modern operations team is less about replacing people with technology and more about creating the right mix of experience, perspective, and tools. The firms that get this right are not just more efficient. They are more resilient, more scalable, and ultimately more valuable to clients. That starts with how we think about people.

Experience and continuity are competitive advantages

One of the biggest differentiators in our business is the diversity of experience within a team. In our group, we have advisors across multiple decades of life, from their 20s through their 60s. That is not accidental. It is a deliberate way to ensure continuity for clients and stability for the business.

Clients are increasingly asking a question that I think is both fair and necessary: What happens if something happens to you?

We spend a great deal of time helping clients plan for unexpected events in their own lives. They should expect the same level of preparation from us. A solo advisor without a clear continuity plan introduces risk, not just for clients, but for their own family and business as well.

A team structure, particularly one that spans generations, helps address that. It ensures that relationships are not tied to a single individual and that there is always someone familiar who can step in if needed. It also creates a deeper bench of experience. Having people who have lived through different market cycles, from the early 2000s to 2008 and beyond, adds a level of perspective that cannot be replicated by technology.

The same principle applies to operations teams. It can be tempting to build around lower-cost, early-career talent, especially given the availability of modern tools. But experience still matters. The strongest teams are those that combine institutional knowledge with new ways of thinking.

Automation should enhance, not replace, the human element

There is no question that automation has improved efficiency across the industry. Scheduling tools, digital workflows, and AI-driven systems have made it easier to manage time and streamline processes. We use many of these tools ourselves, and they are valuable. But there is a limit to what automation can do, particularly in a business that is built on trust.

I was reminded of that recently when trying to resolve a simple issue with a company. I went through their chat system, then their phone system, only to be routed through layers of automation without ever reaching a live person. Eventually, the system simply disconnected.

That is exactly the kind of experience we want to avoid for our clients. There are moments when efficiency matters, and automation works well. But there are also moments when clients need reassurance, clarity, or simply a conversation. In those situations, nothing replaces a real person.

The goal is not to choose between technology and human interaction. It is to integrate both in a way that enhances the overall experience. Technology should handle the repetitive and administrative tasks, freeing up time for more meaningful client engagement. If we lose that balance, we risk becoming more efficient but less effective.

Scaling requires intentional hiring and development

As firms grow, the challenge becomes building teams that can support that growth without compromising service. That requires a more thoughtful approach to hiring and development.

For us, growth has come largely through relationships. Many of the people we work with today are individuals we have known for years, through conferences, study groups, and shared professional networks. That alignment matters. It ensures that as the team expands, the underlying philosophy and approach remain consistent.

At the same time, we are paying attention to the next generation of talent. I spend time speaking with students and engaging with universities, not necessarily recruiting immediately, but building relationships early. When the right opportunity comes along, those connections matter.

That said, bringing in new talent is not as simple as hiring someone out of school and expecting them to succeed. Training takes time, resources, and infrastructure. Not every firm is positioned to do that effectively. This is where the industry is evolving. Training today is far more accessible than it was when I started. Online platforms, virtual learning, and tools like AI have shortened the learning curve. New advisors can gain exposure to scenarios and case studies much more quickly. But there is a trade-off. As technology improves, some entry-level roles may become less necessary, which increases competition for those entering the field. The bar is rising, and those who succeed will be the ones who are both technically capable and highly motivated.

Flexibility is the foundation of scale

Ultimately, building a next-generation operations team is about flexibility. Clients are not all the same. Some prefer digital tools and streamlined interactions. Others want more traditional communication, phone calls, in-person meetings, and ongoing dialogue. A scalable model needs to accommodate both.

That requires a team that is adaptable, both in how they use technology and how they engage with clients. It also requires leadership that is clear about priorities. Growth for the sake of growth is not the goal. Sustainable growth, supported by the right people and processes, is.

Technology will continue to evolve. Roles will continue to change. But the core of this business remains the same. Clients want to know that someone understands them, is looking out for them, and will be there when it matters most.

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