Financial Advisor

Banking, Finance, Insurance, Real Estate

Moderate but identified automation impact of AI for this Job

Notice: Trying to access array offset on value of type bool in /home/copa7868/ on line 3

level of automation


Our comments:

The financial advisor profession requires a high level of personalization for each client and operates under strict regulatory constraints.

Despite AI’s ability to analyze data, the ever-changing nature of financial needs and the fundamental human and emotional relationships in this profession make complete automation challenging.

The role will leverage automation to enhance customization and expand the scope of asset management

This section reviews the 3 main tasks associated with the job studied and assesses the potential level of automation induced by AI ('AI Automation Impact').
The modeling uses 8 criteria detailed on the 'Methodology' page.
Tasks AI Automation Impact
Assess clients' financial situations and define their needs. Significant
Propose suitable financial solutions (savings, investment, loan). Moderate
Ensure the monitoring and updating of client files and adjust recommendations based on the evolution of their situation. Moderate
Through our research, we have identified two pivotal categories of skills that will be impacted by AI-driven automation :
  • 'At-risk skills,' which are likely to become obsolete due to their susceptibility to automation
  • 'Future-proof skills', which are projected to retain their value and resist automation, thereby ensuring their relevance in the forthcoming job market.
Let's have a look at the future of your skills for this job :
At-risk Skills
Verifying investment documents and financial product profitability reports This skill largely involves reviewing and validating documents based on specific criteria. Automated systems, especially those based on AI, are already capable of processing large volumes of data, identifying trends, extracting specific information, and comparing it against defined criteria.
Preparing a customer follow-up file Customer Relationship Management (CRM) systems and Enterprise Resource Planning (ERP) software are becoming increasingly sophisticated, with many of them already integrating AI functions to automate tracking, updating, and notifying changes in records. Additionally, with the advent of blockchain and other technologies, there could be a revolution in how records and transactions are tracked, making this skill less relevant in the future.
Future-proof Skills
Creating a client's asset statement This skill requires a deep and personalized understanding of an individual's financial situation, as well as expertise in tax regulations, investment, and financial planning. Each client has a unique situation, so it's essential to grasp these nuances to provide appropriate advice.
Anticipating legislative developments and providing strategic advice Being proactive in strategic advices will remain. This ability to anticipate and advise cannot be easily automated as it requires nuanced analysis, critical thinking, and a deep understanding of the complexities of the financial and legislative world.

How does AI impact this job type ?
Get the full analysis