Digital tools have raised client expectations in wealth management rather than replacing the need for human advisors. McKinsey data shows investors seeking holistic advice grew from 29 percent in 2018 to 52 percent in 2023. Kelli Stanko, head of private wealth consultants at MassMutual Private Wealth, argues that perspective, confidence, and genuine relationships are what clients keep seeking. She introduces practical frameworks, including the third place and the chameleon mindset, for advisors who want to build trust beyond portfolio reviews and digital dashboards.
Demand for human financial advisors has kept rising even as clients gain access to better digital tools. McKinsey research found that investors seeking more holistic advice grew from 29 percent in 2018 to 52 percent in 2023. Clients are also increasingly willing to pay a premium for a person rather than an algorithm. Kelli Stanko, head of private wealth consultants at MassMutual Private Wealth, sees this as a clear signal that the value proposition has shifted. "I do not think that wealth management is only about investment results," she says. "It is about instilling confidence in a client's financial plans and providing that through the human element." Information is widely available; perspective grounded in a real relationship is not.
Digital hyper-independence describes clients who arrive at meetings having already researched strategies, compared options, and consulted AI tools before any professional conversation begins. Kelli Stanko uses the phrase to capture a behavioral shift most advisors are already seeing firsthand. These clients can model scenarios and form well-supported opinions independently, which raises the bar for advisors considerably. Information is no longer the differentiator. The job has shifted to interpreting that information and catching what is incomplete or wrong. "During most important financial decisions, clients are not looking for another pie chart put in front of them," Stanko says. "They need someone that can provide perspective and break down the complexities and provide options and considerations that include both upsides and downsides of various decisions."
The "third place," a concept coined by sociologist Ray Oldenburg, refers to community spaces outside home and work where relationships form naturally through shared experience and familiarity. Stanko sees these environments as an overlooked source of genuine client trust for financial advisors. Rather than organizing networking events, she recommends finding spaces tied to real personal interests and showing up consistently. Trust builds on its own terms, not through a pitch. "It just goes to show that humans are always going to crave that intentional connection," Stanko says. "If you're looking to acquire new clients, make that personal connection, or establish meaningful relationships, finding the third place is key." That consistent presence matters more than any scripted outreach.
The chameleon mindset is a framework Stanko developed to help advisors identify communities where they genuinely belong and build relationships through authentic participation. It is not about adapting a personality to work a room. It is about showing up where a real interest already exists. Stanko's own example is the yoga sculpt class she attends four to five times a week. "It's not only been a place for me physically that has allowed me to pour into my own cup and feel really healthy, but also from a mental standpoint," she says. "I've met a lot of new friends. People that have impacted my life and have really shaped what I want the future to look like." That gradual familiarity becomes a natural foundation for financial conversations.
When advisors work without firm support, they often find themselves delivering advice while simultaneously defending it against clients' independent research. MassMutual's model addresses that gap by providing a home office of specialists, including JDs, CFAs, and CFPs, who back each advisor. Stanko describes the structure as a community-like culture built directly into the service model. As wealth has grown more complex, through business exits, multigenerational transfers, and family governance decisions, clients increasingly value access to a trusted network of specialists alongside their own research. "I do not think that wealth management is only about investment results," Stanko says. "It is about instilling confidence in a client's financial plans and providing that through the human element." That specialist bench makes that confidence deliverable at scale.
Many advisors assume younger clients prefer a fully digital experience. The data complicates that assumption. A 2025 PYMNTS Intelligence survey found that while Gen Z prefers digital channels for most financial transactions, 46 percent still want in-person interaction when seeking financial advice. Stanko sees a clear gap between that reality and how most practices currently respond. "There hasn't really been a large focus on getting to know the next generation within the family," she says, "and that is something that absolutely needs to change." Advisors who focus only on the primary account holder risk losing those assets entirely during a generational transition. Building relationships with the next generation early is one of the most practical forms of practice protection available.
For advisors looking ahead to 2027, Stanko recommends evaluating three things: how relationships are being built, whether a practice's brand reflects the clients it wants to attract, and whether its growth strategy still matches how trust is actually earned today. Technology will keep improving. Clients will arrive better informed than ever. But Stanko's core argument holds regardless of how sophisticated the tools become. Confidence, perspective, and trusted relationships are what clients keep returning for. Practices rooted in community and genuine human connection are better positioned to deliver all three, whether the client is a long-standing high-net-worth account or the next generation behind them. The advisors who invest in real relationships now will be the ones still relevant when the tools change again.
Kelli Stanko: head of private wealth consultants, MassMutual Private Wealth; previously a wholesaler at Northern Trust Asset Management, where MassMutual was one of her firm's top focus accounts; joined MassMutual three years ago.