Can ChatGPT Replace Your Financial Adviser? Not Yet. But Wait. – WSJ

ChatGPT and its competitors have already achieved some impressive milestones—they can pass the bar exam for lawyers and help solve medical cases.

So, are these AI tools now ready to replace your financial adviser?

The advantages of AI advisers are obvious at first blush. Professional financial advice is costly, and beyond the reach of many Americans. AI could drive those costs down and make smart, personalized guidance available for everyone 24/7. AI also can expand the range of financial decisions covered by advisers and offer more holistic advice. These days, people don’t just need help mixing ETFs into a portfolio—they also have to make hard choices about savings, insurance and debt management, among other things.

But while AI can do some things as well as a financial adviser, and sometimes can even perform better, it can’t replace human advisers. Yet.

Source: Can ChatGPT Replace Your Financial Adviser? Not Yet. But Wait. – WSJ