The End of Wealth Managers

Also - Harnessing Quantum Computers in 2025, The Internet Going Dark, UK Being Left Behind in AI in Financial Services. A new section for Quantum Computing advancements.

March 04, 2025

Range CEO Predicts the End of Wealth Managers

Will wealth advisors go the way of the stock broker? The CEO of Range - Fahad Hassan - believes that in the next 5 to 10 years, agents will take over the wealth management industry.

But will the public AI trust agents? And how will all this be regulated?

BMO Financial Group Says it Will be Using Quantum Computing by the End of the Year

BMO - one of the largest banks in North America with more than $1.4 trillion in assets - will reap the benefits of quantum computing by the end of 2025. That’s according to Kristin Milchanowski, the Chief AI and Data Officer.

The focus at BMO is AI Agents and all their AI efforts are overseen by it’s governance committee.

“Be bold in an era of exponential technological change.”

Will the Internet Go Dark?

A pair of analysts at Bernstein Wealth Management think that if everyone starts using AI agents for catching up on news, nobody will be viewing ads.

AI agents and their creators could become the new gatekeepers between consumers and products and services.

Will the UK be Left Behind?

Sam Patteson, the general manager of EMEA at Smarsh, believes the UKs AI Action Plan leaves out financial services and insurance. And this is a big mistake.

He also says that AI safety wasn’t given enough attention in the plan.

Quantum Computing

This new section will focus on news stories about quantum computing advancements.

Quantum Computing Startup QuantWare and Quantum Open Architecture

QuantWare claims it’s proprietary chips and core offering - VIO - are already powering quantum computers in 20 countries. It’s also allowing other companies to use it’s technology via it’s Foundry and Packaging Service.

QuantWare is also offering Contralto-A, it’s quantum error correcting QPU.

Canadian Quantum Startup Xanadu

Xanadu is a Canadian startup has built a new photonic quantum computer it says is scalable.

The modular unit fits in a standard server rack.

Thank you for your time today. I hope you have a great week!