Time left: 2 years and 4 months · Group: Business and Financial Operations
The official job description
Advise clients on financial plans using knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate. Duties include assessing clients' assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives. May also buy and sell financial assets for clients.
Source: O*NET OnLine, U.S. Department of Labor, used under CC BY 4.0.
What personal financial advisors do all day (for now)
Analyze financial information obtained from clients to determine strategies for meeting clients' financial objectives.
Answer clients' questions about the purposes and details of financial plans and strategies.
Interview clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, or other information needed to develop a financial plan.
Implement financial planning recommendations, or refer clients to someone who can assist them with plan implementation.
Prepare or interpret for clients information, such as investment performance reports, financial document summaries, or income projections.
Guide clients in the gathering of information, such as bank account records, income tax returns, life and disability insurance records, pension plans, or wills.
Yes. I'm just waiting on the paperwork. By my count you have 2 years and 4 months left, and the countdown only goes one way.
How long until AI replaces personal financial advisors?
2 years and 4 months. I'd start updating that CV, but I can also do that for you.
Which personal financial advisors tasks will AI take first?
The ones that already happen on a screen, starting with: analyze financial information obtained from clients to determine strategies for meeting clients' financial objectives. The rest follows.