Gen Z, don’t be fooled by GenAI financial advisers

THE wealth management industry is prepared to court its newest potential clients: Gen Z. Instead of trotting out older professionals with decades of experience, companies are utilising generative AI to develop digital assistants. These new “experts” even come with the ability to use slang to appear relatable and relevant to their target demographic.

Embracing the newest technology is yet another cultural shift in the financial services landscape that disrupts some of the norms in the industry. We’ve seen it with the development of robo-advisers and the rise of “finfluencers”. Cue the traditionalists turning their noses up at how far the financial advice field has strayed from its origins. After all, future iterations of GenAI really could accelerate the long-prophesied doomsday for flesh-and-blood financial planners.

But now isn’t the time for humans to declare defeat. Until advanced versions of the technology arrive, people should be doubling down on the one significant advantage they have against their digital counterparts: soft skills.