AI agents will serve incumbents: each fintech wave went to whoever owned the customer
LexSokolin · x · 2026-10-11
Fintech commentator LexSokolin offers a crisp framework across three waves: human advisers sold advice from offices; roboadvisers moved it online and were acquired by incumbents; AI agents will now do the work for firms that already hold the clients. His takeaway: every technology wave accrues to whoever owns the customer relationship, not the technology itself—explaining why roboadvice never disrupted wealth management and why AI agents likely won't either.
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