Mike Floyd Urges 3 Immediate AI Steps for Advisors as Firmwide Overhaul May Take Years
Updated
Updated · Investment Executive · May 20
Mike Floyd Urges 3 Immediate AI Steps for Advisors as Firmwide Overhaul May Take Years
3 articles · Updated · Investment Executive · May 20
Three actions can start now at the advisor level: use AI before meetings to stress-test recommendations, show clients what is guaranteed versus projected, and deliver a plain-language written rationale they can keep and share.
That approach translates Mike Floyd’s “centaur” model into daily practice without waiting for board approval, budgets or a multiyear platform build, while improving analysis before clients or regulators challenge it.
The article argues AI is rapidly shrinking the information gap that long favored advisors, making undocumented comparisons and verbal-only recommendations harder to defend and less sustainable as a practice standard.
Floyd’s broader warning to firms still stands: AI is a business-model transformation, not a technology project, but advisors who adopt these habits early could gain a durable competitive edge before firmwide change arrives.
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The $2.5 Trillion Imperative: AI-Driven Reinvention of Financial Advisory by 2026
Overview
As of May 2026, the financial advisory sector faces an urgent need to transform its business models due to the rapid integration of Artificial Intelligence. AI is closing the information gap between advisors and clients, allowing consumers to better understand their financial options and reducing their reliance on advisors as sole information holders. This shift is forcing advisors who depended on information asymmetry to adapt quickly, as advanced AI is set to automate many service roles. The industry must respond with board-level strategies and enterprise-wide changes to remain competitive in this evolving landscape.