AI isn't about to replace human advisors, says AssetMark's Rogerson

As the RIA landscape continues to evolve, Phill Rogerson, AssetMark’s SVP and head of RIA, is focused on helping advisors thrive amid sweeping industry change.

Drawing on more than three decades of experience building investment platforms, Rogerson sees a pivotal moment for independent advisors, one that demands both flexibility and scale. And he’s been telling InvestmentNews why the industry is at a pivotal moment.

“The pace of transformation – consolidation, rising client expectations, and the need for scale – is unlike anything I’ve seen,” Rogerson says. “My top priority is to make sure RIAs have flexible, scalable solutions that let them personalize at scale and compete with the largest players, while maintaining their independence.”

Rogerson believes technology and artificial intelligence will be foundational to how RIAs grow and serve clients over the next several years, with platforms becoming more integrated to allow advisors to serve more households with deeper, more personalized advice.

But this doesn’t mean replacing humans which he says will still be a key part of the advisory experience, augmented by the technology available to them.

“The goal is to help advisors scale efficiently, deliver better outcomes, and spend more time on what matters most: client relationships,” he says. “The biggest challenge is balancing efficiency and scale with the personalized service clients expect. Advisors are being asked to do more – provide broader advice, manage more clients, and keep up with regulatory and technology changes.”

Rogerson says that his firm empowers advisors and their firms through flexibility.

“Our platform lets advisors select the services they need – trading, tax management, private markets access – while still benefiting from dedicated onboarding, ongoing consulting, and a responsive team that acts as their extended CIO and trading desk,” he explains.

One of AssetMark’s key initiatives under Rogerson’s leadership is expanding access to private markets and it’s an area he sees as increasingly essential for modern portfolios.

“Private markets are no longer optional, they’re becoming an important part of building modern, diversified portfolios,” he says. “As public markets shrink, retail investors are seeking new sources of return in private equity and alternatives.”

Reflecting on more than 30 years in the industry, Rogerson says that change is constant, but client needs always come first.

“Advisors who focus on delivering deeper advice, embracing technology to enable better outcomes for their clients, and building scalable, flexible practices will be best positioned to succeed,” he says. “The opportunity for growth in front of wealth managers is enormous and independence matters – RIAs shouldn’t have to sacrifice control to compete.”

Rogerson, who has talked previously with InvestmentNews about fighting fee compression, is also concerned about succession planning, which his firm tackles through its Ascent program, launched earlier this year.

“Succession planning is a looming challenge, especially as many advisors near retirement and few new entrants join the field,” he says. “It’s not just about continuity – it’s about retaining client trust across generations.”

He urged advisors to take a proactive approach: “Start early, communicate openly, and leverage partners who can help navigate the process.”

That same mindset applies to the coming Great Wealth Transfer, which Rogerson views as both a challenge and a catalyst.

“The Great Wealth Transfer is a catalyst for innovation in advice, technology, and client engagement,” he said. “RIAs will play a critical role in helping clients navigate complex planning, tax management, and multigenerational relationships.”

According to Rogerson, firms that invest now in digital tools and engagement strategies will be best positioned.

“Investors expect more choice, flexibility, and personalization,” he says. “Technology and AI will continue to drive efficiency and scale, but the human element, trusted advice, will remain paramount.”