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The launch of advanced AI models capable of writing code and executing complex tasks has coincided with a sharp drop in the share prices of some large financial service companies. The market is reflecting the reality that the traditional, technical, number-crunching value proposition of a financial advisor is rapidly being commoditized. But what does this mean for the individual human advisor and the RIA CEO? On today's show, I discuss the future of financial advisory with Dan Haylett, Marketing Director & Financial Planner at TFP Financial Planning, and Alan Smith, Founder and CEO of Capital Partners. Will AI cause short-term disruptions that ultimately expand the market, lower costs, and elevate the premium on human wisdom and relationship-building? Or are AI optimists suffering from an "empathy delusion" in our belief that AI can enhance -- but never replace -- the human-to-human connection that's always been an essential part of our value proposition? |
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