In the 2026 Midyear Outlook from Wealth Management, our CEO Joe Mrak examines a question every advisory practice is now facing: as philanthropic technology (PhilTech) and AI absorb more of the administrative work of giving, what makes an advisor irreplaceable?
Philanthropy is a key component of client conversations now more than ever. The 2026 TPI Study of the Philanthropic Conversation found that 88% of high-net-worth clients now discuss charitable giving with their advisors, and 75% say they would be more likely to choose an advisor who is knowledgeable about philanthropy—a share that has nearly doubled since 2018.
Joe’s article explores finding the balance point between what the platform should carry, and when the advisor needs to step in. PhilTech has taken over the administrative weight of giving and handles it well enough to run quietly in the background. What it can’t do is close the distance between why advisors assume clients give and why clients say they actually do. Technology also can’t draw out the values, family dynamics, and long-held priorities that shape a giving decision. Those surface through conversation: the questions an advisor asks before tax strategy or charitable giving vehicle selection enters the room, and the discussions that bring younger family members in as wealth moves between generations.
“No software can close this gap—it requires genuine conversations to understand how clients’ personal goals, backgrounds, and family dynamics come into play,” said Joe.
The advisors who make room for those conversations, while coordinating the charitable plan behind the scenes, are the ones families stay with across generations. Giving stops being a separate line item and becomes part of a holistic client experience—one that connects a family’s wealth to what it actually wants that wealth to accomplish.
Read Joe’s full article for what he thinks advisors should be doing with the time technology gives back.
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