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AI May Not Replace Advisors, But It Is Raising Expectations
['Quinn Waller']
The Daily Upside
More than a third of advisors surveyed said clients are comparing their advice to recommendations received online or through artificial intelligence tools.
“Advisors who work with clients using AI will spend less time doing very basic education,” said Phil de la Motte, an advisor at Prospero Wealth.
After suggesting a strategy, Nott said clients often come back with deeper questions about what it means for their financial picture.
AI can be useful in building a client’s confidence about a strategy that the advisor suggested, De la Motte said.
He recalled a client who was rather risk averse, and wanted to run a strategy past him.