Thought Leadership

One cap table can hold stock under four different Section 1202 regimes at once, set by when each block was issued. Selling at year three instead of year five costs roughly $2.1 million on a capped gain. Here's what advisors now have to track, and why almost no advisory stack can produce it on demand.

Most advisory firms can describe what a client financial system should look like. The gap isn't the concept — it's the infrastructure to build one, keep it current, and use it under real-world pressure. Here's what that actually requires, and why the existing advisory stack wasn't designed to deliver it.

Most advisory AI tools capture the output. A plan document records what was recommended. A CRM note records that a meeting happened. Neither records what the advisor knew, what they modeled, what they set aside, or why they went the direction they did. That gap — between output and decision process — is where fiduciary exposure quietly lives. And it's the part of AI governance that almost nobody has built yet.