Goldman Sachs had its largest class of new private wealth advisors ever, even as AI can do more of the job
Goldman Sachs has hired a record number of private wealth advisors, betting that human expertise remains essential for high-net-worth clients despite the rise of AI. While AI handles routine tasks, the bank emphasizes soft skills and relationship management for complex family wealth planning.
Why it matters
This highlights the evolving role of human professionals in finance as AI automation becomes more prevalent in wealth management.
Whitney Pigott, new private wealth advisor, John Mallory, co-head wealth management, and Beau Burbach, new private wealth advisor. Goldman Sachs Goldman Sachs hired over 120 private wealth advisors into its advisor boot camp this year, a record. AI is taking on grunt work and even some modeling. But there's a lot it won't be able to do. The importance of relationships for the wealthiest clients has Goldman betting on more advisors. Goldman Sachs is betting that professionals who counsel the wealthy will have a strong future in the age of AI. The bank brought more than 120 new private wealth advisors into its four-week new private wealth advisor boot camp this summer, its largest class ever, and 30% larger than last year's.
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