In the new world of AI, financial advisers who rely on their technical expertise risk becoming irrelevant.
- Disagree (56%)
- Agree (35%)
- Not sure (9%)
Loading ...Our latest poll asks you to reflect – not for the first time – on how you and your peers add value to your clients as financial advisers.
This question stems from our report this week about a recent presentation to advisers across the Ditch by a global leadership expert who argues that human trust will be your greatest asset in the new AI world (see: Human Trust Will be Advisers’ Greatest Asset in the Age of AI).
The expert, Colin James, maintains the one quality artificial intelligence cannot replicate is human trust, and that the depth of the client relationship represents “…the moat that will protect your relevance.”
Conversely then, James cautions that – given the immense ability of AI to deliver detailed information today, let alone what it might be able to deliver tomorrow – those advisers relying on technical expertise as their long suit risk being displaced by automation.
His argument sounds logical – even intuitive – but do you agree? Whether this applies to you or to your peers around you, do you think that if you rely on your technical expertise then your role as an adviser who delivers value to clients will become irrelevant?
Most advisers, whether they be holistic financial planners or risk specialists, will already declare that it’s all about the relationship – the ability of the adviser to be the trusted confidante for the client, to ‘be there’ when they’re needed to offer wise counsel above and beyond the technical information they also provide.
So, it’s over to you to continue the conversation. Are we just talking theory here, rather than reality? Or is the writing on the wall for the more technical-focused advisers in the emerging age of AI? Tell us what you think and we’ll continue the conversation next week…