Artificial intelligence is changing the way we access financial information.
Within seconds, it can explain investment strategies, summarize tax laws, compare retirement accounts, and answer thousands of financial questions.
It's remarkable technology.
But it raises an important question:
Do people still need a human wealth advisor?
I believe the answer is yes (shocker, I know), but not because AI is useless—because financial planning has never been about information alone.
Seek to Understand
AI chatbots have made financial information more accessible than ever before. We have more information at our fingertips than ever before in human history. That's a pretty weighty thing to comprehend.
However, information is not the same thing as advice.
Artificial intelligence is not infallible. Like any tool, it has limitations. AI models can occasionally generate inaccurate information—often called "hallucinations" (which can be rather costly when there are real humans and real dollars at stake)—or reflect biases present in the data they were trained on. That's why it's important to verify important financial information with trusted, credible sources rather than relying on a single AI-generated response.
A good advisor doesn't simply answer financial questions. They help clients understand how those answers fit into their bigger picture.
- What is your definition of the word success?
- What would you not trade for more money?
- How much is enough?
- If an outsider were to look at how you spend your time, money and influence, what would they learn about your priorities?
- Is your spouse prepared to take over managing the finances when you pass away?
- What will you retire to, not just from? Why does it matter?
- Are there any investments you would avoid as a matter of principle?
- How can you be generous while also caring for your family's future?
- Which organizations could you give to and in what fashion?
- Five minutes after you die, what will you wish you would have given away while you still had the chance?
- Have you chosen the next steward and are they prepared?
- If you died tomorrow, what impact do you think an inheritance would have on each of your children? Would the money enhance their lives or harm it?
Those questions don't have one-size-fits-all answers. They require context, right judgment, dialogue, wisdom and a clear understanding of each individual client’s values and goals.
Human Advantage
Many people assume an advisor's value is measured solely by investment returns. Research suggests otherwise.
Russell Investments' 2026 Value of an Advisor study estimates the potential value of professional advice at 4.92% annually. That value isn't based on stock picking alone. It includes personalized financial planning, behavioral coaching (helping to prevent you from doing the wrong thing), tax-aware investing, and ongoing guidance.
Our advisors at Harvest Point® are always seeking ways to go above and beyond to better serve our clients. Whether it's helping clients navigate life's biggest decisions, coordinating tax and estate planning strategies, providing accountability during uncertain markets, or adjusting your financial plan as life changes—we are here to be your financial partners.
People > Algorithms
At the end of the day, financial planning isn't just an algorithm; it's about people—real human beings.
One of the most valuable, yet underrated, ways an advisor can stand out from AI chatbots is by helping clients avoid emotional decisions during periods of market volatility. Staying disciplined through uncertainty can often have a greater long-term impact than trying to predict what the market will do next.
As advisors, we can seek to understand what matters most to someone, help them navigate life transitions with continuity, and give them confidence to move forward with a plan that's built specifically for them.
Final Thoughts
Artificial intelligence is one of the most exciting technological advancements of our time, and it's already changing the financial planning profession for the better. I personally love learning new ways to use AI so that we can better serve our clients.
But AI cannot...
- ...look you in the eye.
- ...calm an anxious heart.
- ...comfort a crying widow.
- ...shake your hand.
- ...encourage a stressed young mother.
- ...attend a funeral with flowers in hand.
- ...pat you on the back.
- ...listen to a fearful grandmother with empathy.
- ...challenge a struggling young dad.
And the list could go on. AI cannot replace the wisdom that comes from knowing someone's story, values, and long-term goals.
In short, AI cannot have a personal relationship with you because, after all, it cannot have human emotions. And if we're honest, when it comes right down to it, that's what we all want, isn't it? Genuine (not artificial) relationships that stand the test of time, come what may.
If you are looking for someone with whom you can have a relationship like that, start by filling out our Discovery Questionnaire. We’d love to learn more about your values and goals to see if Harvest Point® would be a good fit to serve you.