Episode 1: Michael Kitces

In the inaugural episode of The Trust Podcast, host Dave Feldman sits down with Michael Kitces, a prominent figure in the financial planning industry known for his extensive content creation, industry influence, and knowledge of new technology. 

The conversation begins with Kitces sharing his unconventional journey into finance, transitioning from a psychology background to the world of life insurance and financial planning in the early 2000s.

We then explore the topic of trust dynamics between financial advisors and their clients. Kitces introduces the "warmth and competence" framework and we explore the impact of different fee structures on trust. Our conversation shifts to the vendor ecosystem, examining the challenges of software adoption in the advisory space and the importance of long-term relationships with technology providers.

Finally, we discuss advisors' mixed sentiments towards AI, its limitations in high-stakes financial decisions, and the need for "human-in-the-loop" solutions.