Use this free tool from our partner SmartAsset that can match you to a fiduciary adviser<\/a>, as well as resources like NAPFA and the CFP Board.)<\/p>\n\u201cI do not see it replacing advisers \u2014 there are nuances to planning that are found only through face-to-face interaction,\u201d says Don Grant, a certified financial planner at Sabre Wealth, adding that \u201cAI can be a time-saving tool for advisors \u2014 freeing up more time for advisors to spend with clients, rather than the administration of client accounts.\u201d<\/p>\n
We asked seven certified financial planners and wealth managers how they\u2019re incorporating AI into the workplace.<\/p>\n
\u2018AI can speed up the time it takes to research questions that come up in client meetings,\u2019 says Brenton Harrison, founder and CFP at New Money, New Problems \u2014 who adds that you must also, of course, use it with caution.<\/p>\n
\u201cAI can speed up the time it takes to research questions that come up in client meetings about market movements, tax implications and general planning strategies, though I always double check sources. AI can save time on many functions of being advisor but using it as the sole source can cause problems.<\/p>\n
For research-related topics where having the right facts is paramount, we need to be aware that AI models may be trained on incorrect information. Rewriting communications in your voice and using prompts requesting that all outputs provide source citations can make sure you\u2019re articulating the right information. AI will change the financial industry, but the change will be in complementing advisor work and allowing them to scale and improve the services they offer to clients at a faster pace and lower cost.\u201d<\/p>\n
\u2018It can streamline portfolio management, identify potential risks, help with communication or event scheduling,\u201d says Cristian Mundy, CFP and wealth management director at Life Line Wealth Management.<\/p>\n
\u201cAt a high level, AI has become a supporting player or tool, not a replacement for true financial advice. Where AI helps is efficiency and insight. It can streamline portfolio management, identify potential risks, help with communication or event scheduling and even personalize education for clients based on behavior patterns. Where it doesn\u2019t help and where it can even create risk is when information is inaccurate, incomplete or too generalized. AI can generate data and projections, but a CFP professional helps interpret that information responsibly, through a fiduciary lens, ethical standards and a deep understanding of each client\u2019s full financial picture.\u201d <\/p>\n
\u2018We use it in team meetings, for annual reviews and investment reviews,\u2019 says Laura LaTourette, CFP and managing partner, senior wealth adviser at Family Wealth Management Group.<\/p>\n
\u201cAI use has cut our time down on administrative tasks. We are all in on AI for admin! AI especially helps us with meetings. Our AI tool connects to my calendar and helps me prepare for meetings by gathering info from our notes and CRM. <\/p>\n
We use it in team meetings, for annual reviews and investment reviews with current clients, and for financial planning meetings where we have different forms it completes as we speak with clients. I\u2019ll be using it for the annual meeting of a board I am on, where I am the investment advisor. I also use AI to dictate notes.\u201d<\/p>\n
\u2018I use Chat-GPT 5 for some answers relating to analyst estimates and reporting dates,\u2019 says Steven Conners, founder and president of Conners Wealth Management.<\/p>\n
\u201cI use Chat-GPT 5 for some answers relating to analyst estimates and reporting dates. It is better since it pulls from all sources on the internet. As for other tasks, considering most clients prefer clear and concise communication, it can be helpful to put into words what your thoughts are. <\/p>\n
I don\u2019t believe that utilizing AI this early for portfolio management is viable. I think it\u2019s too subjective still for AI to learn the subjective aspects of money management. It doesn\u2019t know one\u2019s clients\u2019 emotions regarding money, potential loss of principal and other key advisor attributes that are significant in providing an overall positive client experience.\u201d<\/p>\n
\u2018I rely on AI to help redact and polish emails, improve communication with clients and peers, and serve as a thinking partner,\u2019 says Otto Rivera, CFP, investment adviser and financial planner at White Lighthouse Investment Management.<\/p>\n
\u201cMy use is cautious and limited and I never include client information or private data for obvious security and privacy reasons \u2026 Primarily, I rely on AI to help redact and polish emails, improve communication with clients and peers, and serve as a thinking partner. During my commute, I sometimes talk through scenarios and challenges with ChatGPT, and it often helps me explore new ways to solve both simple and complex problems.<\/p>\n
However, I\u2019ve found it unreliable for precise research or data-driven questions. In many cases, the responses include inaccuracies or outdated information, so I always verify and correct details before applying them.\u201d<\/p>\n
\u2018I don\u2019t need to write [notes] from scratch. It does not replace the task, it helps expedite the task of notetaking,\u2019 says Don Grant, CFP at Sabre Wealth. <\/p>\n
\u201cAI is present for meetings, and the program sifts through and creates an executive summary of the meeting, and has the ability to suggest workflows for distributions, account change\/opening, allocation changes, etc. It has saved me countless hours. Now, I just need to thoroughly edit meeting notes\u2026 I don\u2019t need to write them from scratch. It does not replace the task, it helps expedite the task of notetaking.\u201d<\/p>\n
\u2018There has been a noticeable help or benefit to overall efficiencies, especially when it comes to certain chore-like tasks, says Daniel Milan, investment adviser representative and managing partner at Cornerstone Financial Services.<\/p>\n
\u201cThis year, I have begun to incorporate AI tools across the entire firm. My goal was to determine areas where I could improve efficiency for staff and advisors, which would subsequently increase overall bandwidth and client service capabilities. Thus, I started with integrating Microsoft CoPilot across our Office 365 software as well as researched CRM options in an effort to identify [\u2026] a new CRM that was embracing AI within their platform aggressively. That diligence led to a decision to integrate Wealthbox into my firm\u2019s tech stack. <\/p>\n
I also built a handful of our own AI agents to assist with investment research, earnings call research, account opening processes, etc. So far, there has been a noticeable help or benefit to overall efficiencies, especially when it comes to certain chore-like tasks, meaning the more time consuming and monotonous ones.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Eighty-five percent of financial advisers view generative AI \u2014 AI that can be used in generating new content…\n","protected":false},"author":2,"featured_media":162479,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[177],"tags":[2552,289,83888,67210,8139,85029,79,41573,1096,41570,13782,41565,6567,94099,18,41571,47522,18131,3334,5568,83910,19,41586,3442,41557,3592,88058,17,610,1590,188,94100,47521,234,235,9436,44285,59097,94098,88059,9588,83891,19363,41589,41574,41575,41590,41576,26243,82,10654,6101],"class_list":{"0":"post-162478","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-analysis","9":"tag-artificial-intelligence","10":"tag-artificial-intelligence-technologies","11":"tag-artificial-intelligence-machine-learning","12":"tag-banking","13":"tag-banking-credit","14":"tag-business","15":"tag-ce-industry-news-filter","16":"tag-computer-science","17":"tag-content-types","18":"tag-corporate","19":"tag-corporate-industrial-news","20":"tag-credit","21":"tag-customer-relationship-management","22":"tag-eire","23":"tag-factiva-filters","24":"tag-financial-investment-services","25":"tag-financial-services","26":"tag-general-news","27":"tag-generative-ai","28":"tag-humanities","29":"tag-ie","30":"tag-industrial-news","31":"tag-investing","32":"tag-investing-securities","33":"tag-investment-advice","34":"tag-investment-advice-research-services","35":"tag-ireland","36":"tag-machine-learning","37":"tag-marketing","38":"tag-markets","39":"tag-markets-marketing","40":"tag-mpsmartasset","41":"tag-personal-finance","42":"tag-personalfinance","43":"tag-political","44":"tag-political-general-news","45":"tag-private-banking","46":"tag-private-banking-wealth-management","47":"tag-research-services","48":"tag-sciences","49":"tag-sciences-humanities","50":"tag-securities","51":"tag-selection-of-top-stories","52":"tag-selection-of-top-stories-trends-analysis","53":"tag-suggested-reading-industry-news","54":"tag-suggested-reading-investing","55":"tag-suggested-reading-investing-securities","56":"tag-synd","57":"tag-technology","58":"tag-trends","59":"tag-wealth-management"},"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/162478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=162478"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/162478\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/162479"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=162478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=162478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=162478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}