Barron's Advisor Max Lane: Tech and the Future of Wealth Management
Jun 10, 2025
Max Lane, CEO of Flourish, is on a mission to revolutionize wealth management. He shares insights on the evolution from product-focused advising to the emerging Wealth 3.0, emphasizing the need for advisors to meet millennial clients' tech-savvy expectations. Max discusses how generative AI can enhance client engagement through personalized financial planning. He also suggests strategies for boosting organic growth, like improving lending capabilities and modernizing outdated annuities, while underscoring the importance of data integration in enhancing advisor-client relationships.
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Max Lane's Career Journey
- Max Lane began his career in UBS operations, learning from the ground up in wealth management.
- He transitioned through fintech startups and mergers to lead Flourish, now under MassMutual.
Wealth Management Evolution
- Wealth 1.0 was product selling, Wealth 2.0 is holistic financial planning.
- Wealth 3.0 means advisors become holistic life coaches offering more than portfolios, integrating banking and insurance.
Millennial Clients Raise the Bar
- Millennial clients demand more than just portfolio management; they want a broad menu of services and seamless implementation.
- Advisor technology must meet rising expectations with modern, integrated digital tools.