AI & Financial Planning: Human Experience in the Digital Age

Financial Planning

 Plancorp Team By: Plancorp Team
AI & Financial Planning: Human Experience in the Digital Age

It’s difficult to escape media about how artificial intelligence (AI) is the next big advancement in technology.  It’s disrupting industries across the globe with a pace of advancement that is well ahead of our ability to grasp full impacts. It’s left many people wondering how it will infiltrate their world and change their lives. 

The story isn’t all glossy, but the reality is many jobs are made easier each day by leveraging AI support tools. We’re discovering new ways to use it to increase efficiency in our personal and professional lives, and even Google is utilizing AI technology to help us get answers to our search queries faster (although, not as seamlessly as they’d hoped). 

The rapid advances in AI capabilities in the last year have left many people skeptical of what’s to come. How will it affect the future of our careers? Can AI really replace a human completely? And if so, what does that mean for our livelihoods and our legacies? 

As AI technology evolves, the Plancorp team, and other firms like us, are left wondering: is financial planning the next industry to be disrupted by artificial intelligence, or will wealth management remain one of the few services that truly needs a human touch?

In this month’s episode of The Plancorp Perspective, Plancorp’s president and CEO, Chris Kerckhoff, and Director of Wealth Management Ranie Verby are joined by Senior Wealth Manager Chad Frazier to discuss how our level of financial planning and wealth management services fit into this ever-changing landscape. 

Given AI’s rise in popularity and consistent presence in the news cycle, as well as the “AI Anxiety” that many are facing, we’re happy to make this month’s episode, which is typically exclusive to Plancorp clients, publicly available. 

We’ll touch on:  

  • How we believe AI will impact what we do at Plancorp and how we do it 
  • The benefits of human advisors vs. robo-advising services 
  • If AI can replace a wealth management’s firms' ability to serve as a behavioral finance coach for clients  
  • The growing role of technology in financial advising 

Related Resources  

Comparing Robo-Advisors to Traditional Wealth Managers: What is Better For Your Needs? 

The Difference Between AI and Markets 

The Evolving Dance of AI and Financial Advisors 

About The Plancorp Perspective 

The Plancorp Perspective is a client-exclusive podcast that aims to give our clients peace of mind and keep them apprised of what matters most, without click bait headlines or buzzword clutter. 

We believe our clients shouldn't have to sift through hundreds of news stories to decipher what's important for their financial plan, and what’s just noise. 

Plancorp clients can tune in monthly as Chris Kerckhoff, Ranie Verby, and special guests from the Plancorp team dig in on what clients should know about and the Plancorp perspective on it. 

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Plancorp started with a unique philosophy: Always put your clients’ interests ahead of your own, and you’ll build a successful business. That was in 1983, but the sentiment still drives every decision we make. After 40 years of helping individuals, families and business owners plan for financial independence, our commitment to serving as financial life advocates is stronger than ever. More »