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Saturday, May 18, 2024

In financial planning, AI has entered the room. Where does it fit in?

In financial planning, AI has entered the room. Where does it fit in?


In this ever-evolving world of technological advancements, it's no surprise that artificial intelligence has entered different industries including finance. It’s being used to1 help people build an investment portfolio, automate customer service, detect fraud, and beyond.

Undeniably, AI has remarkable capabilities. But when it comes to financial advice, the partnership of a seasoned financial professional can uniquely support you in making life’s big financial decisions.

Here are five reasons why personal financial advisors offer advice that outshines the capabilities of AI.

1. The human touch

In a world craving connection, human interaction is irreplaceable.

Financial professionals are trained to understand your dreams, fears, and unique aspirations on a deep level. They forge a genuine connection with you, nurturing a relationship built on trust and empathy. Unlike the algorithms of AI, these financial mentors grasp the power of emotions in financial decision-making, enabling them to provide advice that resonates deeply and guides you towards a fulfilling future.

2. Experience and wisdom

Imagine having a seasoned financial maestro who has journeyed through the highs and lows of the financial landscape. Financial advisors have a wealth of experience that can't be replicated by AI.

They have weathered market fluctuations and learned invaluable lessons along the way. This wealth of knowledge allows them to offer insights and guidance that go beyond mere data analysis.

AI can help crunch numbers with lightning speed, while an advisor can provide a nuanced perspective that comes from years of hands-on experience. Personal financial advisors' expertise can give you a compass to navigate the ever-changing financial terrain.

3. Personalization at its finest

You are one of a kind, and your financial journey should reflect that.

Financial professionals excel in the art of personalization. They take the time to understand your individual circumstances, aspirations, and risk tolerance. By crafting tailor-made strategies that align with your specific needs, a professional can help set you on a path to success.

Unlike AI, advisors appreciate and value the power of your dreams and goals, allowing them to co-create a roadmap that empowers you to realize your vision.

4. Adaptive guidance

Life is a symphony of ever-changing rhythms.

As circumstances shift, a financial professional is able to adjust their guidance. When unforeseen challenges arise or new opportunities present themselves, advisors can support you in swiftly pivoting. Unlike the rigidity of algorithms, your financial conductor offers real-time adjustments, providing you with ongoing support and guidance as you navigate the sometimes exciting, sometimes overwhelming twists and turns of your financial journey.

5. Accountability

Accountability can be the secret ingredient to transforming your dreams into reality.

Personal financial advisors serve as your accountability partners, motivating you to stay on track and follow through on your financial commitments. Their unwavering commitment to your success can help keep you focused and driven, even in the face of adversity.

The bottom line

The capabilities of AI are undeniably impressive. But the realm of personal financial advice demands the power of human expertise. The human touch, experience and wisdom, personalization, adaptive guidance, and accountability of personal financial advisors surpass the limitations of AI algorithms.

Embracing the partnership of a trusted personal financial advisor can help you forge a path to an abundant, fulfilling life.


1 The Motley Fool, "5 Examples of Artificial Intelligence in Finance," June 2023.

Courtney Burrell


Courtney Burrell is a Senior Financial Professional at Empower. She coaches clients to build successful wealth building habits from mindset to successful saving and investing. 

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