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Altruist's Big Reveal Sent Wealth Management Stocks Tumbling. Here's What's Really Going On.
Analysis February 12, 2026 at 11:26 AM
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What You Need To Know
- The stock prices of firms like Schwab and LPL dropped precipitously this week on news of rival AI innovation.
- The narrative of AI replacing advisors is a myth, but the "evolution" narrative is very real, experts say.
- The consensus: AI will seriously reshape workflows and time-consuming tasks — not displace fiduciary advisors.
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