Big RIAs Prioritize General-Purpose AI in Recruiting, Overlooking Specialized Fintech

The landscape of wealth management is undergoing a significant transformation as artificial intelligence shifts from a theoretical advantage to a practical requirement in the hiring process. However, according to new research from Seattle-based AI startup Caddi, the largest independent registered investment advisors (RIAs) are favoring broad, general-purpose AI platforms over the growing ecosystem of advisor-specific fintech solutions when scouting for new talent.

The findings, shared exclusively with InvestmentNews, highlight a distinct trend in how the most influential firms in the advisory space are integrating machine learning into their daily operations. While the industry is flooded with new software designed specifically for financial planners, the job postings from the nation’s largest RIAs show a clear preference for household names like Microsoft Copilot, ChatGPT, and Claude.

The Rise of AI in RIA Hiring

The data paints a picture of rapid adoption. By the third quarter of 2026, 19.4% of independent RIAs that actively posted job openings included at least one reference to an AI tool or skill requirement. In absolute numbers, this represents 39 of the 201 firms analyzed by Caddi. To put this growth into perspective, the prevalence of AI mentions in job postings has surged from just 1.1% only two years prior. Looking at a broader timeframe, since late 2023, 76 of the 455 firms studied have explicitly mentioned AI in their recruitment efforts.

Caddi, which specializes in providing AI agents designed to automate tedious back-office tasks such as account opening and the processing of custodian paperwork, is uniquely positioned to track this evolution. By monitoring both public job postings and the LinkedIn profiles of employees at the 455 largest independent RIAs—all ranked by their SEC Form ADV assets—the firm has captured a detailed snapshot of how institutional-level advisory firms are evolving.

General-Purpose Tools Dominate the Conversation

Despite the proliferation of specialized software, wealth-specific AI tools are currently struggling to gain traction in the recruitment narrative. The Caddi research indicates that over the 12-month period ending in September 2026, general-purpose Large Language Models (LLMs) were the clear winners in terms of name recognition in job advertisements.

Copilot led the pack, appearing in the job postings of 34 different firms. ChatGPT followed closely with 32 mentions, and Claude was cited by 27 firms. In contrast, specialized advisor tools have yet to achieve the same level of ubiquity. Zocks, a platform designed specifically for advisor notetaking, was the only wealth-specific AI product to appear among the most frequently cited tools, appearing in the job posts of seven firms. Interestingly, this places Zocks on par with Google’s Gemini, which also appeared in seven firms’ postings, and slightly behind those seeking experience with OpenAI’s GPT models directly, which appeared in eight.

These figures suggest a disconnect between the software that firms are actually using and the software they are highlighting in their recruitment materials. While 41 firms mentioned AI in their job postings without naming a specific product, the reliance on the “Big Three”—Copilot, ChatGPT, and Claude—suggests that firms are looking for general digital fluency rather than mastery of niche financial tools.

However, industry adoption of specialized tools is happening behind the scenes. In a separate Caddi survey of 17 operations leaders at RIAs managing more than $1 billion in assets, 53% reported that their firm currently pays for an advisor notetaker. Popular solutions in this category include Jump, Zocks, and Zeplyn, suggesting that while these tools are being deployed, they are not yet seen as core competencies that recruiters feel the need to screen for in prospective employees.

Blurring Lines Between Categories

The divide between general-purpose AI and wealth-specific fintech is becoming increasingly porous. In September 2026, Anthropic, the developer behind Claude, launched "Claude for Financial Advisors." This iteration of the tool features pre-built connectors to major wealth management infrastructure providers, including Schwab, Orion, Wealth.com, and Zocks.

This move by a tech giant to integrate directly with the existing wealth management stack suggests that the future may not be a choice between "general" and "specialized" tools, but rather a hybrid model where general-purpose LLMs act as the brain for a suite of financial-specific plugins. As these integrations become more sophisticated, the "advisor-specific" label may lose some of its significance, as the underlying AI models will effectively be "wealth-enabled" through partnerships and connectors.

The Influence of Firm Size

The adoption of AI in the workplace—and the corresponding focus in job descriptions—is not uniform across the industry. There is a sharp decline in AI-related recruitment as firm size decreases. Among the 10 largest independent RIAs in the country, eight have posted at least one job mentioning an AI tool. Similarly, 63.6% of firms with between $25 billion and $100 billion in assets have made similar mentions.

This rate of adoption drops significantly as the firm’s scale diminishes. For firms with $10 billion to $25 billion in assets, the share falls to 26.5%. For mid-sized firms managing between $2.5 billion and $10 billion, only one in 10 job postings references AI. For firms managing less than $2.5 billion, mentions of AI in job postings are virtually nonexistent.

Furthermore, the largest firms are moving beyond simple usage and into the realm of development. Approximately 21% of firms in the $25 billion to $100 billion range have posted jobs seeking skills for building directly on top of large language models. This represents a strategic shift from being mere users of third-party software to becoming internal developers, a luxury afforded by the significant resources and technical talent available to the largest players in the industry.

Alejandro Castellano, co-founder and CEO of Caddi, believes the industry has passed the initial phase of skepticism. "The largest RIAs have stopped asking whether to use AI," Castellano noted. "The question for 2027 is whether anyone can show it changed the cost of running the firm, and right now very few can."

Broader Industry Context

The data from Caddi aligns with broader trends observed by industry custodians. Recent survey data from Charles Schwab underscores the complexity of this transition. While only 7% of advisors currently use "agentic AI"—systems capable of making decisions and taking independent actions within a workflow—the desire for AI-literate talent is growing. In the same Schwab study, 26% of advisors explicitly stated they are looking for candidates who are comfortable operating within an AI-augmented environment.

Furthermore, AI is already transforming the hiring process itself. According to Schwab’s 2026 RIA Benchmarking Study, nearly half of all surveyed RIAs have utilized AI tools to assist in the drafting of job descriptions. More than a third are using AI to develop structured interview questions, signaling that the very firms recruiting for AI skills are already leveraging the technology to streamline their own talent acquisition pipelines.

As 2027 approaches, the industry stands at a crossroads. While the largest RIAs are clearly committed to the integration of AI, the focus remains on the foundational, general-purpose models that are reshaping the broader corporate landscape. Whether this translates into a measurable return on investment or a lasting change in the cost structure of running a wealth management firm remains the primary challenge for the industry to resolve. For now, the recruitment market suggests that while the "AI era" has arrived for RIAs, it is still being defined by the most recognizable tools in the tech world.