New Tech and the Future of Financial Advice

The financial services industry is undergoing a dramatic transformation, compelling financial advisors to rethink how they manage client relationships, integrate technology, and deliver value. At the forefront of this change is Jason Pereira, a seasoned financial planner at Woodgate Financial Inc. Jason is a true renaissance man of fintech and a vocal industry advocate; his insights continually challenge the conventional boundaries of financial advice.  

Ben Johnson and Julie Willoughby explore Jason’s perspectives on the rapidly evolving landscape of financial planning and the future of advice delivery.

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Regarding advisor technology, Jason offers a pragmatic yet forward-thinking analysis. Jason points to a dominant trend in the US advisor market: the rise of all-in-one platform solutions.  

“All-in-one platforms benefit from simplicity and seamless integration, but no one can do everything world-class,” Jason says. “You might excel at one function, but if you’re juggling 12 different tasks, it’s hard to maintain that level of expertise.” 

Jason predicts that continued innovation in financial tech will result in increased disruption, with smaller, agile firms challenging traditional industry giants. Additionally, he sees international tech providers eyeing the US market, which will only intensify competition.  

While this offers many exciting opportunities for advisors, it also creates challenges, particularly in terms of integration. Advisors struggle with the lack of connectivity between disparate tools. For Jason, the takeaway is clear: advisors need to be strategic in evaluating their tech stacks to ensure that their solutions enhance their practice without adding unnecessary complexity.  

Artificial intelligence is revolutionizing industries across the board—and financial services is no exception. While Jason recognizes the immense potential of AI, he cautions against overhyping its capabilities. He stresses that artificial intelligence should be seen as a tool to complement, not replace, human expertise in financial planning.

Jason is particularly excited about AI’s ability to simplify complex software for users. For instance, AI-powered overlays can automate routine tasks and offer intuitive guidance to help advisors get the most out of existing platforms. Other AI applications, like transcription tools and client engagement platforms, can save advisors countless hours by reducing administrative workload.

“AI is not a panacea,” Jason says. “I think asking AI to do things it’s not good at is a sure way to get stuck. There are two issues here: first, not understanding how generative AI works, and second, trying to apply it universally. People often ask why there’s no AI financial planning tool where they can input everything and get an answer. In reality, generative AI struggles with complex tasks like financial planning, which involves factors such as yearly taxes, variable returns, income volatility, and shifting income streams—elements AI can’t yet model effectively. While this will change over time, it’s understanding of the human behavioral side of planning is something it will likely continue to find difficult.

Despite its promise, AI-powered financial planning tools are still not equipped to navigate the intricate challenges and the highly personalized nature of financial advice. Advisors using AI should remain vigilant in verifying its outputs to avoid costly mistakes and to uphold strong advisor-client relationships

With an ever-expanding array of technological solutions, Jason raises an important question: Are we reaching the “too much of a good thing” point? As the market is flooded with platforms and tools, choice fatigue is becoming a genuine concern for many advisors. Jason encourages advisors to focus on value rather than volume.  

“Just because there’s an abundance of solutions doesn’t mean you need them all,” Jason emphasizes.  

Instead of chasing every new tool, advisors should prioritize platforms that deliver on two key fronts: efficiency and client engagement. Additionally, as younger, digital-native clients enter the market, advisors should not shy away from technology that enhances the client experience, such as visually compelling financial presentations or interactive, user-friendly client portals.

The relationship between asset managers and financial advisors is also profoundly shifting. Jason highlights a move away from traditional product-pushing models to more holistic, solution-oriented approaches to financial planning. This shift is primarily driven by market forces, with commoditization putting pressure on conventional models and forcing asset managers to rethink their strategies.  

“The human aspect of financial planning will never be commoditized,” Jason says. “Asset managers must align their offerings with advisors’ needs to help build meaningful, long-term client relationships.”  

To differentiate themselves, asset managers must now focus on providing value in ways that resonate with both advisors and clients. Whether through niche investment products that align with specific client values or enhanced client service offerings, asset managers are adapting to the evolving needs of the advisory landscape.

“There’s no unconflicted form of advice billing,” Jason says, acknowledging the complexities of fee structures in financial planning. Whether advisors charge based on assets under management, hourly rates, or retainers, each approach has its challenges.  

Rather than focusing on finding a universal billing method, Jason advocates for a more transparent, flexible approach that aligns with client values. Offering clients a range of fee options while unbundling services—can lead to a more client-centric model. This allows consumers to select the level of service they need, creating a more personalized and transparent experience.

As millennials and Generation Z become the dominant forces in the investing world, financial advisors must adapt their communication and service delivery models. Jason acknowledges that while the core financial goals—buying homes, saving for education, planning for retirement—remain the same, these generations expect a different approach to financial advice.

These younger clients prioritize convenience, digital accessibility, and transparency. Whether through a sleek mobile app or fast, responsive communication, advisors must invest in technology and workflows that align with these expectations.

“You have to meet your clients where they live,” Jason advises, emphasizing the importance of modernizing the tools and approaches that serve today’s digital-native investors.

Jason Pereira’s insights offer a valuable roadmap for financial advisors seeking to navigate the fast-evolving landscape of financial advice. By embracing the right technologies, staying focused on client relationships, and adapting to shifting market dynamics, advisors can future-proof their practices while continuing to deliver meaningful, human-centered value.  

The future of financial advice is coming fast—and those who innovate early will be shaping its direction. As Jason suggests, the key to success lies in blending technology with expertise, ensuring that advisors stay at the center of the client experience.