Building Trust: Why Advisors Struggle to Balance Personalization and Scale

Today’s financial advisors face a defining challenge: Clients expect advice that feels personal, yet they also expect it to be delivered with the consistency and transparency of a global platform. While this isn’t necessarily a new debate, it could best be considered through a lens of trust.

For years, personalization has been discussed as a balance between human insight and scalable process. But our 2025 Voice the of the Advisor (VOTA) survey and Voice of program suggests a deeper shift—personalization is now the primary currency of trust.

In fact, Voice of program participants reported that the top three non-financial ways advisors add value are security about their financial future (36%), peace of mind and relief from the stress of money management (28%), and confidence in making informed financial decisions (26%). This implies that clients no longer equate value with financial performance alone but measure it by how well advisors understand their motivations, values, and progress toward goals.

But too often, advisors and home offices find themselves pulled in two strategic directions: Personalization risks becoming inconsistent, audit-challenged and unscalable, while standardized approaches can feel impersonal and commoditized. Bridging this gap requires a new mindset—one that uses technology, data, and structured processes and methodologies to scale personalization itself.

Learn actionable insights that can help advisors drive scalability, gain a competitive edge, and meet client expectations.

Key takeaway: Personalization isn’t about reinventing the wheel for each client, it’s about building on a consistent foundation that can flex where it matters most.

Advisors may assume personalization means crafting one-off solutions. But without a repeatable framework, this creates operational strain and uneven client experiences.

True scalability comes from reliable, transparent processes that apply a consistent philosophy while tailoring around individual risk profiles and goals. Tools like model portfolios illustrate this balance—they offer a structured investment foundation with room for client-specific adjustments. Especially in volatile markets, this steadiness reassures clients that decisions are grounded in a disciplined approach, not ad hoc reactions. Our VOTA survey showed that more than half of advisors (54%) who use model portfolios not only saw the greatest benefit in portfolio management efficiency but still yielded the flexibility to modify their client portfolios further.

By combining disciplined frameworks with thoughtful customization, advisors can deliver both efficiency and differentiation, ensuring clients feel their needs are met without sacrificing operational rigor.

Key takeaway: Tools like AI are having a more positive effect than originally feared, becoming an engine that enables deeper relationships.

While a common fear is that advanced technology dilutes the human element, the reality is it frequently amplifies it. Our VOTA survey continues to show advisors only spend about half of their time (52%) on client-focused activities. Applying technology and AI can allow for more time with clients by creating efficient workflows. Scalable tools like risk assessments or automated portfolio diagnostics give advisors the ability to deliver insights faster and with greater precision.

Automated reporting, intelligent workflows, and proposal tools—like Morningstar Direct Advisory Suite—reduce time spent on routine tasks, offering advisors more capacity for meaningful conversations as well. Unsurprisingly, AI is the latest tool shaking up financial service workflows.

In fact, we found that about two-thirds of surveyed advisors are using AI in their practices currently with the top positive impact as improving efficiency in client communication followed by assisting with investment research and due diligence.

Far from replacing the advisor’s role, technology takes work off the advisor’s plate and produces smarter insights. AI gives advisors more time and more context to do what clients value most: listen, empathize, and deliver trusted guidance.

Key takeaway: Delivering reports that connect portfolio data to goal progression, transparent risk, and personal values can help strengthen client trust.

Data is increasingly the bridge between scale and intimacy. By surfacing behavioral cues or life-event triggers, analytics help advisors anticipate client needs before they arise. Our Voice of program suggested the more involved an advisor is in decision-making, the more satisfied clients are in the approach they take. Specifically, the overall satisfaction rate for investors working with an advisor full-time (83%) was higher compared to those who were self-directed (60%).

What Morningstar researchers also found was that data without the right context and explanation might have a more negative impact than advisors may expect. When analyzing the portfolio performance report components that clients valued most, we saw that returns remain a high priority for half of clients (50%)—however, 56% of them reported it was more important to highlight the progress to their long-term goals.

Clients don’t just want numbers—they want context. The challenge isn’t producing more reports, but the right ones, in the language that resonates with clients.

Key takeaway: Understanding a client’s primary objectives can lead advisors to better communicate how to achieve success.

Trust grows when advice feels built for clients, not sold to them. This means moving away from a “product first” mindset to building a “client first” mindset, where solutions are clearly tied to a client’s values, goals, and long-term vision.

Tools like portfolio comparison functions help advisors illustrate trade-offs transparently, shifting the conversation from “Here’s a product to buy” to “Here’s a strategy designed to achieve your goals.” That simple reframing builds collaboration and trust.

Every client is different and so are the ways they define success. While 37% of Voice of program participants claimed success meant no reason to be concerned, that definition varied from being financially secure for the remainder of their lives to having a nice lifestyle.

Plus, almost half of them (48%) reported wealth accumulation as the primary objective of their portfolio with total portfolio growth (66%) being the top measure of success. On the other hand, those who indicated preserving capital (12%) to be their main objective saw total portfolio growth (54%) as the number one success metric—which may be at odds with their primary objective.

To deliver value and strong results, advisors must draw a clear line between a client’s objective and how they define success, making sure they are consistent and achievable. Doing so can improve communication, establish what success looks like, and give clients a greater feeling of personalization.

Key takeaway: Clients feel understood when their values are reflected in their plan—and that sense of alignment is what transforms good advice into trusted advice.

Modern clients increasingly evaluate advisors on how well advice reflects their personal values—whether sustainability, philanthropy, or legacy planning. Meeting this demand at scale is nearly impossible without the right technology.

Our Voice of program found that although 21% of participants have been significantly impacted by climate events, almost half of them (48%) weren’t concerned about a long-term financial impact—which largely could be related to the proactive steps taken between the client and advisor. These steps included reducing water consumption (37%), upgrading their home’s energy efficiency (33%), and shifting to a more sustainable diet (32%).

Platforms that systematically track and implement client preferences ensure portfolios align with what clients care about most. When clients see their values reflected in their financial plan, they feel seen as people, not just accounts.

Advisors don’t have to choose between growth and personalization. The real competitive edge comes from scaling personalization itself. By blending structured processes, intelligent technology, and data-driven insights, advisors can deliver advice that's both highly individualized and reliably scalable.

The result? Operational efficiency transformed into emotional trust—the cornerstone of lasting client relationships.