, Columnist
Gen Z, Don't Be Fooled By GenAI Financial Advisers
The technology is a shiny new tool aimed at wooing young investors, but real people have a huge advantage over their digital counterpart.
Real people are still needed.
Photographer: Michael M. Santiago/Getty Images North AmericaThe 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 utilizing 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.”