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Advisory growth depends on people, not hype

Vaughn Bowman has seen three different moments in his career when financial advisors and financial professionals were thought to be finished. First came online trading, then robo-advisors, and now artificial intelligence. None of them, he says, eliminated the role of the advisor. If anything, they gave advisors more ways to serve their clients. Bowman, head of MassMutual Wealth Management, brings a unique perspective shaped not only by his time in financial services but also by 22 years as an intelligence officer in the US Army Reserves. That background trained him to be skeptical, careful, and humble about change, yet open to the possibilities of new technology. ‘Advisors were supposed to be obsolete’ Bowman remembers his first experience with investing as a teenager. “Picture this: I’m 13 years old and buying my first stock. It’s in a smoke-filled room in a strip mall. I’m paying $100 commission for a $600 stock, and the price of the stock is 15 and an eighth. Many viewers may not even realize that stocks used to trade in fractions.” That memory of a slower, more expensive market serves as a marker of how far the industry has come. Yet in his view, it also illustrates what has not changed: people still prefer to do business with people.

There have been three times in Bowman’s career when advisors were said to be on the verge of becoming obsolete. First it was online trading, then robo-advice, and now it’s artificial intelligence. Each time, the technology in question has not made advisors obsolete. If anything, it has empowered advisors and given them more ability to serve clients in more ways. “The premium on human advice continues unabated,” Bowman says. He attributes this to two forces. First, human nature. No matter the medium − whether sitting at a table, talking on the phone, or meeting over Zoom − business is still fundamentally personal. Second, the financial environment itself has grown more complicated. Product innovation, market shocks, and regulatory shifts create uncertainty that no app or algorithm can fully resolve.

If the human element is indispensable, Bowman argues, then technology must be put to work in service of it. “A big part of my role has been figuring out how we can use technology to make advisors’ lives easier,” he explains. That means integrating different platforms so advisors can focus less on back-office tasks and more on relationships. He cites account opening as an example. By linking MassMutual’s core platform, Advisor360°, with Envestnet’s portfolio management system, the firm reduced the time and effort required to complete the task. The result was more efficiency for staff and more time freed up for client conversations. For Bowman, the impact of these changes is best measured by two indicators: advisor satisfaction and net new assets. Both have moved sharply upward. Likelihood to recommend MassMutual for wealth management has increased by 95 percent in the past year,1 while net new assets reached $8 billion in the first seven months of the year. That figure equalled the total for all of 2024 and doubled the amount brought in during 2023.2 “When clients trust advisors with more of their assets, that’s a strong sign we’re on the right track,” he says.

Younger advisors are also playing a critical role. Bowman describes meeting with a 28-year-old who brought forward new ideas about practice management. To him, it illustrates how perspectives shaped in the digital age can challenge assumptions and improve systems. “They didn’t grow up buying stocks in smoke-filled rooms; they’ve lived on mobile devices their whole lives,” he says. For Bowman, engaging with people who think differently is intentional. He makes a point of seeking out conversations beyond traditional boardrooms − listening to newer voices and ideas that help him think outside conventional boundaries, giving firms a real edge.

Yes, AI is powerful, and it will change the way financial advice is delivered. But the pace and impact of that change are likely to be more gradual and uneven than some of the boldest predictions suggest. History offers perspective: the internet existed in the 1970s, yet it took decades before it truly transformed how companies operate. AI may follow a similar path, with real breakthroughs coming not from overnight disruption but from steady, deliberate integration over time. That doesn’t mean advisors should dismiss it. It means the real opportunity lies in practical, deliberate integration. Betting on quick ROI or assuming technology can replace judgment risks wasted investment, broken client workflows, and damaged trust. The smarter play is the long game: invest in the right partners and systems, train teams to use them effectively, and focus on how AI can be of support.

Asked about the future of wealth management, Bowman envisions practices built around diverse, multigenerational teams that can serve entire families. He expects artificial intelligence to support this model, providing help before and during client meetings, while leaving advisors free to focus on judgment, trust, and relationships. He believes the structure of advisory businesses will matter as much as the tools they use. “The successful teams of the future will be generational and diverse, equipped to serve entire families, not just one individual,” he says. Platforms that allow team members to specialize will be essential, as will the ability to manage complex family dynamics across generations. History shows that firms gain the most from technology when they treat it as a tool to strengthen human relationships rather than as a substitute for them. At MassMutual, this perspective has shaped what Bowman calls “supported independence.” Advisors have the backing of the firm’s resources and reputation, but they retain ownership of their client relationships and freedom to grow their practices. Bowman argues that this combination positions advisors to thrive − to develop the flexibility and dynamism needed in a rapidly changing world where both technology and human connection are indispensable. And it is in that context that AI must find its place. Right now, AI excels at narrow, well-defined tasks: analyzing large data sets, drafting reports, or streamlining compliance checks. But when it comes to real-world complexity − understanding client emotions, synthesizing shifting market signals, or making judgment calls under uncertainty − it falls short. Advisors’ greatest edge remains their ability to bring context, nuance, and human connection to financial decisions. Looking 10 years out, he expects that the fastest-growing advisors will be part of well-structured teams using agentic AI to prepare and assist with client interactions. Yet the core of the profession will remain the same: people trusting other people to guide them through complexity. That, Bowman insists, is why human advice is not just surviving − it’s gaining in importance.

Spotlight

This reliance on human connection also reshapes how advisors see themselves. Advisors today are broadening their sense of what it means to lead, drawing on a range of skills to propel their firms forward. Looking ahead, advisors put client-focused innovation and long-term strategic vision at the top of their list of priorities. Business development ingenuity comes close behind. But Bowman emphasizes that future leadership will not be defined only by bold ideas or growth targets. Skills such as technological fluency and emotional intelligence will be just as critical. Success will hinge on strategy, technical expertise, and the ability to connect with people. This point resonates with a larger truth about disruption. Challenges today rarely come from a single source. Economic shifts, regulatory pressure, technological change, and social expectations often collide at the same time, creating uncertainty that clients cannot easily navigate. In such an environment, the advisor’s role as listener, interpreter, and guide becomes even more essential.

Founded in 1851, MassMutual® has been continually guided by one consistent purpose: to help people secure their future and protect the ones they love. With a focus on delivering long-term value, MassMutual offers a wide range of wealth management, protection, accumulation, and retirement products and services. MassMutual’s wealth management subsidiary is an investment advisor and broker-dealer with over $274B in assets under management. Offering advisors the freedom and flexibility of independence combined with the extensive resources needed to run a business, MassMutual is the destination of choice for wealth advisors.

Company Profile

$274B

Assets under management

$2.5 billion

POLICYOWNER DIVIDENDS

102

Ranking on FORTUNE 500™

$9.4 billion

INSURANCE AND ANNUITY BENEFITS PAID IN 2024

AA+ Superior

Financial strength rating by A.M. Best Company

EDUCATIONAL BACKGROUND

Earned a bachelor of arts degree with honors in English and American literature from NYU

SERVICE AND STRATEGY

Graduated with honors from US Army’s Command and General Staff College and is a veteran of Operation Iraqi Freedom

INTERESTS

Gaining international experience and learning about different people and cultures

Vaughn Bowman

Head of MassMutual Wealth Management

Despite rapid advances in digital tools, Vaughn Bowman finds the future of advice will be built on diverse teams and enduring human strengths

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“The successful teams of the future will be generational and diverse, equipped to serve entire families, not just one individual”

Vaughn Bowman, MassMutual Wealth Management

“A big part of my role has been figuring out how we can use technology to make advisors’ lives easier”

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Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries, enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members—executing up to 63 million yearly network transactions—and provides online access to more than 70,000 investment fund products. Established in 1993, Fundserv is a private corporation that is owned by the industry we serve. Our 10 shareholders are a cross-section of Manufacturers, Distributors, and Service Providers who represent our members. We operate using a cost-recovery model, meaning any unused profit may be rebated back to our members. In addition to our network and applications, we lead and facilitate industry committees and working groups that promote automation initiatives and establish the industry’s electronic standards. By ensuring every trade is processed timely, accurately, and securely, Fundserv has rightfully earned a reputation for service excellence—a hallmark of more than 25 years in the investment industry.

Company Profile

Karen Adams

President and CEO at Fundserv

Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent

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Company Profile

Karen Adams

President and CEO at Fundserv

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The next decade of advice

Published October 20, 2025

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