Story perspectives

Personal Connections Outshine AI in Wealth Prospecting

1/23/2026

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Summary

Story summary

Advisory firms remain skeptical about using AI for prospecting ultra-high-net-worth individuals.
Matthew Fleissig, CEO of Pathstone, says personal connections and referrals outpace cold outreach.
He notes AI tools rely on existing databases and do not provide a competitive edge.
Andrew Douglass of AlTi Tiedemann Global says personal networks and referrals drive 70% of growth.
The firm aims to add 25–30 new clients annually, potentially increasing assets by $1.5–2 billion.

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Story summary

Advisory firms remain skeptical about using AI for prospecting ultra-high-net-worth individuals.
Matthew Fleissig, CEO of Pathstone, says personal connections and referrals outpace cold outreach.
He notes AI tools rely on existing databases and do not provide a competitive edge.
Andrew Douglass of AlTi Tiedemann Global says personal networks and referrals drive 70% of growth.
The firm aims to add 25–30 new clients annually, potentially increasing assets by $1.5–2 billion.