Navigating the Next Era of Advisor Technology with Michael Batnick

Episode 158: This week, Kyle Van Pelt talks with Michael Batnick, Managing Partner at Ritholtz Wealth Management. Michael began his career in sales at a life insurance company. Today, he focuses on helping clients navigate the challenges of long-term investing and achieve their financial goals. 

Michael talks with Kyle about how AI is disrupting the wealth management industry. He discusses the realities of rising technology spend, the limits of AI-driven efficiency in human relationships, and how firms can use AI to improve advisor training. Michael also shares the concept behind Exhibit A—Ritholtz's custom-branded visual storytelling and charting software platform—and the importance of building intuitive technology that genuinely makes people's lives easier. 

In this episode:

(00:00) - Intro

(02:26) - Navigating AI hype vs. operational realities 

(04:24) - Michael's thoughts on technology spending

(07:01) - Why AI won't systematically double an advisor's client capacity

(11:21) - How AI could transform training for young advisors 

(15:57) - Private equity and the changing advisor landscape 

(19:24) - The debate between cash flow and enterprise value 

(23:09) - The concept behind Exhibit A

(25:52) - Are RIAs becoming wirehouses in disguise?