I began my career in the finance industry in the late 80’s and therefore I have seen lots of changes in research tools as well as how we deliver our advice but I am sure there is still more to come and it’s hard to predict what changes we will see in the future. I can remember being told in the late 80’s that we will all be carrying mobile phones and we didn’t believe it was possible, so most of us really don’t have any idea what the future is going to look like.
Recently, I heard someone say that AI should be used to take the robots out of us, meaning that we should use it for the repetitive tasks. I do think we should all embrace AI and I am hoping it will be able to do my dishes. But finance, I believe is emotive in my experience, individuals need reassurance and hand holding, and I think that only time will tell if a machine of the future will be able to provide this.
Often, we see individuals who have done their research but following a consultation they have said, “I knew that was an option, but I didn’t realise you could use it in that way”. I think currently with computers and AI you need to know the appropriate question to input, in order to see the correct answer achieved. Again, my advice differs depending on a client’s circumstances and goals and I wonder if this is achievable to the same level by a machine.
During the market turmoil in recent years, we saw individuals who had managed their own funds for years, suddenly turn to us for professional help and reassurance.
The future is exciting and I wish I could see into it, but in the present I do feel we still have a place and this is especially significant where change is happening in our life, I feel that financial advice is important, and to understand your financial options, I would say to anyone that as we offer a free without obligation consultation, why not give us a call if you need any advice and we will see if we can help.