About two weeks ago, a video of a car show went viral. When attendees were interviewed about the vehicles, they cited safety features and their enthusiasm for electric vehicles. The twist? There was no actual EV car show. From the interviewees to the background crowd, the entire clip was generated by artificial intelligence. The 70-second video was composed of smaller clips created using Google’s Veo3, the company’s latest AI video model.
Like it or not, AI is here to stay. You’re either excited about the possibilities it brings, or you’re concerned it will replace humans in the workforce.
The financial industry is no exception. In the early 2010s, as the industry recovered from the financial crisis, robo-advisers gained traction. These platforms offered automated, algorithm-driven investment services at a low cost. Investors with smaller portfolios gained access to portfolio management, rebalancing, and tax-loss harvesting with just a few clicks. However, many of these platforms lacked the financial planning component crucial to comprehensive wealth management. As a result, advisory firms often partnered with robo platforms for trading while offering financial planning as an add-on service.
With the rise and open access to Large Language Models (LLMs), it’s easier than ever to have ChatGPT create a household budget or suggest savings goals. A 2024 study from Northwestern Mutual found that 57% of Gen Z and 55% of Millennials are optimistic that AI will help them achieve their financial goals. Additional surveys show that 54% of Americans report using ChatGPT for financial recommendations.
Statistics like these raise a pressing question: “Will financial advisers be replaced by AI?” We don’t believe so. Money is emotional—your future often hinges on how well you manage your finances. While LLMs can tailor output based on user input and offer solid advice rooted in textbook principles, they can’t recognize the uneasiness in a spouse’s eyes when presented with a financial plan. A human adviser can respond to those unspoken concerns, explain where the plan can pivot if assumptions fall short, and ask the right questions to uncover the source of uncertainty.
While AI may give generic advice based on financial theory, human advisers provide personalized financial planning that incorporates your emotions and level of confidence in the plan. A human can empathize with what matters most to an investor, not just what works on paper.
That’s not to say AI doesn’t have a role. It’s already integrated into major office software, and many of us have experimented with it to see its capabilities. Meetings can now be recorded, transcribed, and summarized with action items and follow-up schedules—often within seconds.
However, finance is a highly regulated industry with strict privacy and compliance standards. LLMs learn from their input, which raises concerns around data privacy and cybersecurity that must be resolved before AI can be fully integrated into financial practices.
We believe it will be quite some time before clients are onboarded by only a financial adviser’s AI assistant. While AI can be programmed to recognize and respond to human emotions, it remains a computer program—prone to “garbage in, garbage out.” The tool is only as effective as the data it’s given and the quality of the prompts used.
Empathy and connection are essential in the discovery process between client and adviser—something that, for now, remains uniquely human.
If you have questions on how AI may transform your financial plan, the experts at Henssler Financial will be glad to help:
- Experts Request Form
- Email: experts@henssler.com
- Phone: 770-429-9166
Listen to the May 31, 2025 “Henssler Money Talks” episode.
This article is for demonstrative and academic purposes and is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making any decisions and is not intended to replace the advice of a qualified professional, such as a tax consultant, insurance adviser or attorney. Although this material is designed to provide accurate and authoritative information with respect to the subject matter, it may not apply in all situations. Readers are urged to consult with their adviser concerning specific situations and questions. This is not to be construed as an offer to buy or sell any financial instruments. It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future profitability or expectations. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing. Henssler is not licensed to offer or sell insurance products, and this overview is not to be construed as an offer to purchase any insurance products.
