How One Wealth Manager Is Adapting to AI in Financial Planning

October 20, 2026 - 03:20

Mitch Stein, a wealth manager at Arena Private Wealth, is not waiting for artificial intelligence to reshape his industry before he responds. Instead, he is positioning his firm to stay relevant by broadening what it offers clients.

Stein describes Arena Private Wealth as more than a traditional wealth management shop. The firm also operates as a player in private and capital markets, a distinction he believes matters as AI tools become more capable of handling routine financial planning tasks. Those tools can already generate portfolio projections, draft planning scenarios, and answer common client questions at speed. What they cannot easily replicate, in Stein's view, is access to private market opportunities and the judgment that comes from structuring complex deals.

That combination is central to his strategy. By blending wealth management with private and capital markets capabilities, Stein argues the firm offers something that software alone cannot deliver: direct participation in investments that are typically reserved for institutional players, along with hands-on guidance through the capital markets landscape.

The approach reflects a wider concern across the advisory industry. As AI lowers the cost of basic planning and makes automated advice more accessible, firms that rely only on standard portfolio management may face pressure on fees and client retention. Wealth managers are increasingly looking for differentiated services, whether through alternative investments, specialized expertise, or deeper client relationships.

Stein's bet is that clients will continue to value advisors who can open doors to private deals and navigate capital markets, even as AI handles more of the day to day analysis. For him, staying relevant means offering what the technology cannot: access, experience, and a seat at the table in private markets.