In its simplest form, the hybrid approach combines the best components of human‐based financial advice and digital advice, offering a flexible and tailored wealth management solution to clients of all demographics. The hybrid approach has three models to offer customers, depending on their customer segment and the complexity of their financial needs. The greatest benefit of the hybrid approach is ... [Show full abstract] that it increases scalability to the financial advisor, allowing the advisor to attract and serve more clients while maintaining high‐quality service. This is mainly because the implementation of a digital platform helps automate manual and time‐consuming processes for the client and financial advisor. Embracing the FinTech ecosystem and using digital advice platforms to provide a hybrid approach empowers wealth management firms to evolve their business, attract a new generation of customers and serve them in a flexible and cost‐effective way.