Upskilling with advances in AI
Are advisers clinging to hope when they say AI can’t replace the empathy and trust of a human adviser?
I recently read that around a third of UK citizens have used AI for emotional support. If people are already using AI for something as personal as that, is it really impossible to imagine them using it for financial advice too?
I work in/around financial advice and one thing that strikes me is how much the profession attacks itself.
Percentage fee or flat fee? Adviser or planner? Industry or profession? Product seller or proper planner? Large firm or small IFA? Restricted or independent?
If we keep telling the public that many advisers are not “proper” advisers, are too product-led or do not offer real planning, are we damaging trust in human advice ourselves?
I have also recently spoken to several recruiters. Only one really listened, understood what I was looking for and suggested relevant roles. Unfortunately, that was a recruiter bot.
That experience made me wonder whether the “human touch” argument is weaker than we think.
If people can get financial guidance that is clear, accessible and available at a fraction of the price, will many be happy to move away from human advisers?
I am genuinely fascinated by AI and think it could bring many exciting changes, improve standards and make advice/guidance more accessible. But I am struggling to see financial advice continuing in its current form for much longer.
Interested in views, especially from advisers, planners and anyone trying to upskill as AI develops and how people with many years left in the profession feel.