Jan. 28, 2026
AI vs. The Human Financial Planner:
AI vs. The Human Financial Planner:
Artificial Intelligence is transforming industries, but can it truly replace the human touch in
financial planning? In this episode of Something More with Chris Boyd, Chris is joined by Jeff
Perry and Russ Ball to explore the pros and cons of using AI for personal finance. From quick
answers and efficiency to the pitfalls of “hallucinations” and lack of context, we dive into where
A-I shines and where it falls short. Financial planning is not just about math; it’s about life
changes, family dynamics, aspirations, and emotional comfort. Can an algorithm understand
your fears or priorities? We discuss why human advisors still play a critical role in tailoring
strategies, asking the right questions, and guiding decisions beyond formulas. Whether you are a
DIY investor or curious about tech’s impact on wealth management, this conversation offers
valuable insights into balancing innovation with personal connection.
#ArtificialIntelligence #FinancialPlanning #AIandFinance #WealthManagement
#FutureOfFinance #HumanTouch #MoneyMatters #InvestingInsights #TechAndFinance
#FinancialAdvisor
For more information or to reach TEAM AMR, click the following link:
https://www.wealthenhancement.com/advisor-teams/amr-team
1
00:00:00,300 --> 00:00:03,540
In a world of artificial intelligence, are financial
2
00:00:03,540 --> 00:00:04,980
advisors becoming obsolete?
3
00:00:05,620 --> 00:00:07,200
Let's talk about the pros and cons of
4
00:00:07,200 --> 00:00:08,860
AI with your financial planning.
5
00:00:09,260 --> 00:00:11,520
Welcome to Something More with Chris Boyd.
6
00:00:11,780 --> 00:00:14,600
Chris Boyd is a certified financial planner, practitioner,
7
00:00:14,840 --> 00:00:17,380
and senior vice president and financial advisor at
8
00:00:17,380 --> 00:00:19,660
Wealth Enhancement Group, one of the nation's largest
9
00:00:19,660 --> 00:00:21,300
registered investment advisors.
10
00:00:21,760 --> 00:00:23,720
We call it Something More because we'd like
11
00:00:23,720 --> 00:00:25,840
to talk not only about those important dollar
12
00:00:25,840 --> 00:00:28,000
and cents issues, but also the quality of
13
00:00:28,000 --> 00:00:30,480
life issues that make the money matters matter.
14
00:00:31,000 --> 00:00:34,220
Here he is, your fulfillment facilitator, your partner
15
00:00:34,220 --> 00:00:37,360
in prosperity, advising clients on Cape Cod and
16
00:00:37,360 --> 00:00:38,400
across the country.
17
00:00:38,840 --> 00:00:41,240
Here's your host, Jay Christopher Boyd.
18
00:00:41,800 --> 00:00:44,060
Welcome again to Something More with Chris Boyd.
19
00:00:44,120 --> 00:00:45,080
Thanks for being with us.
20
00:00:45,140 --> 00:00:46,040
I'm Chris Boyd.
21
00:00:46,080 --> 00:00:48,220
I'm here with Jeff Perry and Russ Ball.
22
00:00:48,700 --> 00:00:51,840
We are all of the AMR team and
23
00:00:51,840 --> 00:00:52,840
glad to have you with us.
24
00:00:53,240 --> 00:00:56,060
Another episode, this time we're talking about artificial
25
00:00:56,060 --> 00:00:56,780
intelligence.
26
00:00:57,680 --> 00:00:59,760
Some of the pros and cons, things to
27
00:00:59,760 --> 00:01:00,500
be thinking about.
28
00:01:00,640 --> 00:01:02,860
I came across an interesting article and thought
29
00:01:02,860 --> 00:01:05,840
this was one of the things people are
30
00:01:05,840 --> 00:01:06,300
thinking about.
31
00:01:06,380 --> 00:01:08,600
It's the time of year where we talk
32
00:01:08,600 --> 00:01:11,860
a lot about financial planning, so thought it
33
00:01:11,860 --> 00:01:13,960
might be a topic worth revisiting.
34
00:01:14,660 --> 00:01:18,420
When you think about a financial plan, doing
35
00:01:18,420 --> 00:01:21,460
financial planning, by the way, I hear your
36
00:01:21,460 --> 00:01:22,900
chair creaking every time.
37
00:01:23,520 --> 00:01:25,220
It's chronic.
38
00:01:25,460 --> 00:01:27,320
I should ask AI how to fix my
39
00:01:27,320 --> 00:01:31,400
squeaky chair because I used all the knowledge
40
00:01:31,400 --> 00:01:33,480
that I know to make it less squeaky
41
00:01:33,480 --> 00:01:34,480
and it's back again.
42
00:01:34,840 --> 00:01:38,720
Just wanted to start with this notion of
43
00:01:38,720 --> 00:01:41,780
when you think about a financial plan, there
44
00:01:41,780 --> 00:01:43,380
are some things that you can get out
45
00:01:43,380 --> 00:01:48,100
of a AI program, probably some good basic
46
00:01:48,100 --> 00:01:51,600
details that could be helpful, some lessons, some
47
00:01:51,600 --> 00:01:52,060
tips.
48
00:01:52,700 --> 00:01:54,860
Russ, you're thinking you got something to add?
49
00:01:55,360 --> 00:01:55,600
Of course.
50
00:01:55,860 --> 00:01:58,760
We've all been playing around with AI over
51
00:01:58,760 --> 00:01:59,620
the last couple of years.
52
00:02:00,860 --> 00:02:04,880
When it comes to financial planning, it's typically
53
00:02:05,780 --> 00:02:08,580
your one question of input and then you
54
00:02:08,580 --> 00:02:09,340
get an answer.
55
00:02:09,759 --> 00:02:11,400
It doesn't really look at everything.
56
00:02:11,400 --> 00:02:13,920
I know there are new apps and new
57
00:02:13,920 --> 00:02:17,200
companies coming out with different products that can
58
00:02:17,720 --> 00:02:20,140
take a look at all the accounts that
59
00:02:20,140 --> 00:02:21,280
you might have if you have a few
60
00:02:21,280 --> 00:02:23,340
checking accounts and all that and put it
61
00:02:23,340 --> 00:02:23,820
all together.
62
00:02:24,460 --> 00:02:28,700
It's difficult with the hallucinations that AI goes
63
00:02:28,700 --> 00:02:28,840
through.
64
00:02:28,920 --> 00:02:30,420
We're going to talk about this a little
65
00:02:30,420 --> 00:02:33,740
bit more, but I've found that there are
66
00:02:33,740 --> 00:02:36,580
times when it's extremely useful and there are
67
00:02:36,580 --> 00:02:38,300
times when if you don't know the next
68
00:02:38,300 --> 00:02:40,520
question to ask, for example, it's kind of
69
00:02:40,520 --> 00:02:43,300
useless or it'll just give you an isolated
70
00:02:43,300 --> 00:02:46,460
answer that doesn't really take anything else into
71
00:02:46,460 --> 00:02:46,780
account.
72
00:02:47,400 --> 00:02:49,260
I know we're going to talk about AI
73
00:02:49,260 --> 00:02:52,660
versus financial planner, but the thing that when
74
00:02:52,660 --> 00:02:55,400
you were introing, Chris, I went right to
75
00:02:56,120 --> 00:02:56,980
is physicians.
76
00:02:57,840 --> 00:03:00,040
People have been googling symptoms for years, but
77
00:03:00,040 --> 00:03:03,500
this just must put that whole thing on
78
00:03:03,500 --> 00:03:06,120
doctors, lawyers, financial planners, other professionals.
79
00:03:06,120 --> 00:03:09,900
It just magnifies what people think that they
80
00:03:09,900 --> 00:03:10,560
might know.
81
00:03:10,840 --> 00:03:12,840
I know every time I make a diagnosis
82
00:03:14,540 --> 00:03:16,760
with using the internet, I'm wrong.
83
00:03:18,360 --> 00:03:24,120
I had someone come in the other day
84
00:03:24,120 --> 00:03:25,620
and they were saying how they use some
85
00:03:25,620 --> 00:03:26,440
programs.
86
00:03:27,360 --> 00:03:29,700
These may not have been AI necessarily, but
87
00:03:29,700 --> 00:03:32,360
they were trying to get their hands around
88
00:03:32,360 --> 00:03:34,780
a financial plan and they started using some
89
00:03:34,780 --> 00:03:36,240
general programs.
90
00:03:37,960 --> 00:03:42,180
They found that everything was peaches and cream
91
00:03:42,180 --> 00:03:44,980
and rosy and nothing to worry about.
92
00:03:45,440 --> 00:03:47,820
When we did the actual financial plan, we
93
00:03:47,820 --> 00:03:49,600
took into account things that they might not
94
00:03:49,600 --> 00:03:50,880
have considered perhaps.
95
00:03:52,000 --> 00:03:56,120
We asked them some questions about expenses in
96
00:03:56,120 --> 00:03:57,540
a way that might be a little bit
97
00:03:57,540 --> 00:04:00,480
more engaged, a little more of a deeper
98
00:04:00,480 --> 00:04:01,020
dive.
99
00:04:01,540 --> 00:04:03,080
That's right to Russ's point.
100
00:04:03,300 --> 00:04:05,160
What's the next question that you're supposed to
101
00:04:05,160 --> 00:04:05,580
ask?
102
00:04:06,040 --> 00:04:10,280
AI answers the question you've asked, but doesn't
103
00:04:10,280 --> 00:04:12,480
know the next or doesn't pose the next
104
00:04:12,480 --> 00:04:13,560
question to ask.
105
00:04:14,460 --> 00:04:14,720
Yes.
106
00:04:16,779 --> 00:04:20,880
I think the more you want to tailor
107
00:04:23,200 --> 00:04:27,580
your planning, the more you might need some
108
00:04:27,580 --> 00:04:29,600
involvement on the human level.
109
00:04:31,600 --> 00:04:37,820
I think we find that there's a whole
110
00:04:37,820 --> 00:04:41,000
element of a conversation we have, Russ, when
111
00:04:41,000 --> 00:04:47,460
we're talking about a financial plan, that it
112
00:04:47,460 --> 00:04:49,100
involves family dynamics.
113
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It involves aspirations, fears, anxieties,
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00:05:01,260 --> 00:05:02,380
priorities.
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00:05:03,240 --> 00:05:05,360
Some of this that's maybe on an emotional
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level to some extent, but that's not the
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kind of thing you're going to put into
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your query with a co-pilot or chat
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GPT or whatever.
120
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Right.
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00:05:21,480 --> 00:05:24,000
It'll take the input and it'll give you
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an output.
123
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Usually, it's based on some kind of math.
124
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If it's, will this money get me this
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far or whatever?
126
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Right.
127
00:05:32,100 --> 00:05:34,780
A lot of the time, it's not the
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most optimal mathematical decision that ends up being
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the one that people choose.
130
00:05:39,480 --> 00:05:40,300
That's a great point.
131
00:05:40,380 --> 00:05:43,100
The most common question we get asked, it's
132
00:05:43,100 --> 00:05:44,440
among the most common questions.
133
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Right.
134
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Did I pay off my mortgage?
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00:05:50,480 --> 00:05:52,660
There's a math question involved.
136
00:05:53,180 --> 00:05:57,560
I'm getting 6% interest rate on my
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00:05:57,560 --> 00:06:01,740
investments, but my mortgage is under three or
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00:06:01,740 --> 00:06:05,320
whatever it really is, but some number.
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Should I pay off my mortgage?
140
00:06:07,940 --> 00:06:11,360
Well, the arithmetic of that is, why would
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00:06:11,360 --> 00:06:11,660
you?
142
00:06:12,640 --> 00:06:14,820
Now, there's risk in my portfolio.
143
00:06:15,320 --> 00:06:18,160
If my cash is getting me greater than
144
00:06:18,160 --> 00:06:20,900
three, then it's a no-brainer.
145
00:06:21,120 --> 00:06:22,860
You're keeping that mortgage.
146
00:06:23,600 --> 00:06:23,700
Right.
147
00:06:24,000 --> 00:06:26,420
But you could ask the same person who
148
00:06:26,420 --> 00:06:28,020
has a, not the same person, but another
149
00:06:28,020 --> 00:06:29,620
person who has a paid off mortgage and
150
00:06:29,620 --> 00:06:31,040
say, hey, you can get a mortgage for
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00:06:31,040 --> 00:06:34,360
4% and invest it and get six.
152
00:06:34,480 --> 00:06:35,700
Do you want to take a mortgage out
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00:06:35,700 --> 00:06:36,380
on your house?
154
00:06:36,660 --> 00:06:37,300
That's a great point.
155
00:06:37,440 --> 00:06:39,260
I know people would generally be like, no.
156
00:06:40,060 --> 00:06:43,080
But I think what we often talk about
157
00:06:43,080 --> 00:06:47,520
with people is, the math is one way
158
00:06:47,520 --> 00:06:49,340
to answer the question, the arithmetic.
00:00:00,300 --> 00:00:03,540
In a world of artificial intelligence, are financial
2
00:00:03,540 --> 00:00:04,980
advisors becoming obsolete?
3
00:00:05,620 --> 00:00:07,200
Let's talk about the pros and cons of
4
00:00:07,200 --> 00:00:08,860
AI with your financial planning.
5
00:00:09,260 --> 00:00:11,520
Welcome to Something More with Chris Boyd.
6
00:00:11,780 --> 00:00:14,600
Chris Boyd is a certified financial planner, practitioner,
7
00:00:14,840 --> 00:00:17,380
and senior vice president and financial advisor at
8
00:00:17,380 --> 00:00:19,660
Wealth Enhancement Group, one of the nation's largest
9
00:00:19,660 --> 00:00:21,300
registered investment advisors.
10
00:00:21,760 --> 00:00:23,720
We call it Something More because we'd like
11
00:00:23,720 --> 00:00:25,840
to talk not only about those important dollar
12
00:00:25,840 --> 00:00:28,000
and cents issues, but also the quality of
13
00:00:28,000 --> 00:00:30,480
life issues that make the money matters matter.
14
00:00:31,000 --> 00:00:34,220
Here he is, your fulfillment facilitator, your partner
15
00:00:34,220 --> 00:00:37,360
in prosperity, advising clients on Cape Cod and
16
00:00:37,360 --> 00:00:38,400
across the country.
17
00:00:38,840 --> 00:00:41,240
Here's your host, Jay Christopher Boyd.
18
00:00:41,800 --> 00:00:44,060
Welcome again to Something More with Chris Boyd.
19
00:00:44,120 --> 00:00:45,080
Thanks for being with us.
20
00:00:45,140 --> 00:00:46,040
I'm Chris Boyd.
21
00:00:46,080 --> 00:00:48,220
I'm here with Jeff Perry and Russ Ball.
22
00:00:48,700 --> 00:00:51,840
We are all of the AMR team and
23
00:00:51,840 --> 00:00:52,840
glad to have you with us.
24
00:00:53,240 --> 00:00:56,060
Another episode, this time we're talking about artificial
25
00:00:56,060 --> 00:00:56,780
intelligence.
26
00:00:57,680 --> 00:00:59,760
Some of the pros and cons, things to
27
00:00:59,760 --> 00:01:00,500
be thinking about.
28
00:01:00,640 --> 00:01:02,860
I came across an interesting article and thought
29
00:01:02,860 --> 00:01:05,840
this was one of the things people are
30
00:01:05,840 --> 00:01:06,300
thinking about.
31
00:01:06,380 --> 00:01:08,600
It's the time of year where we talk
32
00:01:08,600 --> 00:01:11,860
a lot about financial planning, so thought it
33
00:01:11,860 --> 00:01:13,960
might be a topic worth revisiting.
34
00:01:14,660 --> 00:01:18,420
When you think about a financial plan, doing
35
00:01:18,420 --> 00:01:21,460
financial planning, by the way, I hear your
36
00:01:21,460 --> 00:01:22,900
chair creaking every time.
37
00:01:23,520 --> 00:01:25,220
It's chronic.
38
00:01:25,460 --> 00:01:27,320
I should ask AI how to fix my
39
00:01:27,320 --> 00:01:31,400
squeaky chair because I used all the knowledge
40
00:01:31,400 --> 00:01:33,480
that I know to make it less squeaky
41
00:01:33,480 --> 00:01:34,480
and it's back again.
42
00:01:34,840 --> 00:01:38,720
Just wanted to start with this notion of
43
00:01:38,720 --> 00:01:41,780
when you think about a financial plan, there
44
00:01:41,780 --> 00:01:43,380
are some things that you can get out
45
00:01:43,380 --> 00:01:48,100
of a AI program, probably some good basic
46
00:01:48,100 --> 00:01:51,600
details that could be helpful, some lessons, some
47
00:01:51,600 --> 00:01:52,060
tips.
48
00:01:52,700 --> 00:01:54,860
Russ, you're thinking you got something to add?
49
00:01:55,360 --> 00:01:55,600
Of course.
50
00:01:55,860 --> 00:01:58,760
We've all been playing around with AI over
51
00:01:58,760 --> 00:01:59,620
the last couple of years.
52
00:02:00,860 --> 00:02:04,880
When it comes to financial planning, it's typically
53
00:02:05,780 --> 00:02:08,580
your one question of input and then you
54
00:02:08,580 --> 00:02:09,340
get an answer.
55
00:02:09,759 --> 00:02:11,400
It doesn't really look at everything.
56
00:02:11,400 --> 00:02:13,920
I know there are new apps and new
57
00:02:13,920 --> 00:02:17,200
companies coming out with different products that can
58
00:02:17,720 --> 00:02:20,140
take a look at all the accounts that
59
00:02:20,140 --> 00:02:21,280
you might have if you have a few
60
00:02:21,280 --> 00:02:23,340
checking accounts and all that and put it
61
00:02:23,340 --> 00:02:23,820
all together.
62
00:02:24,460 --> 00:02:28,700
It's difficult with the hallucinations that AI goes
63
00:02:28,700 --> 00:02:28,840
through.
64
00:02:28,920 --> 00:02:30,420
We're going to talk about this a little
65
00:02:30,420 --> 00:02:33,740
bit more, but I've found that there are
66
00:02:33,740 --> 00:02:36,580
times when it's extremely useful and there are
67
00:02:36,580 --> 00:02:38,300
times when if you don't know the next
68
00:02:38,300 --> 00:02:40,520
question to ask, for example, it's kind of
69
00:02:40,520 --> 00:02:43,300
useless or it'll just give you an isolated
70
00:02:43,300 --> 00:02:46,460
answer that doesn't really take anything else into
71
00:02:46,460 --> 00:02:46,780
account.
72
00:02:47,400 --> 00:02:49,260
I know we're going to talk about AI
73
00:02:49,260 --> 00:02:52,660
versus financial planner, but the thing that when
74
00:02:52,660 --> 00:02:55,400
you were introing, Chris, I went right to
75
00:02:56,120 --> 00:02:56,980
is physicians.
76
00:02:57,840 --> 00:03:00,040
People have been googling symptoms for years, but
77
00:03:00,040 --> 00:03:03,500
this just must put that whole thing on
78
00:03:03,500 --> 00:03:06,120
doctors, lawyers, financial planners, other professionals.
79
00:03:06,120 --> 00:03:09,900
It just magnifies what people think that they
80
00:03:09,900 --> 00:03:10,560
might know.
81
00:03:10,840 --> 00:03:12,840
I know every time I make a diagnosis
82
00:03:14,540 --> 00:03:16,760
with using the internet, I'm wrong.
83
00:03:18,360 --> 00:03:24,120
I had someone come in the other day
84
00:03:24,120 --> 00:03:25,620
and they were saying how they use some
85
00:03:25,620 --> 00:03:26,440
programs.
86
00:03:27,360 --> 00:03:29,700
These may not have been AI necessarily, but
87
00:03:29,700 --> 00:03:32,360
they were trying to get their hands around
88
00:03:32,360 --> 00:03:34,780
a financial plan and they started using some
89
00:03:34,780 --> 00:03:36,240
general programs.
90
00:03:37,960 --> 00:03:42,180
They found that everything was peaches and cream
91
00:03:42,180 --> 00:03:44,980
and rosy and nothing to worry about.
92
00:03:45,440 --> 00:03:47,820
When we did the actual financial plan, we
93
00:03:47,820 --> 00:03:49,600
took into account things that they might not
94
00:03:49,600 --> 00:03:50,880
have considered perhaps.
95
00:03:52,000 --> 00:03:56,120
We asked them some questions about expenses in
96
00:03:56,120 --> 00:03:57,540
a way that might be a little bit
97
00:03:57,540 --> 00:04:00,480
more engaged, a little more of a deeper
98
00:04:00,480 --> 00:04:01,020
dive.
99
00:04:01,540 --> 00:04:03,080
That's right to Russ's point.
100
00:04:03,300 --> 00:04:05,160
What's the next question that you're supposed to
101
00:04:05,160 --> 00:04:05,580
ask?
102
00:04:06,040 --> 00:04:10,280
AI answers the question you've asked, but doesn't
103
00:04:10,280 --> 00:04:12,480
know the next or doesn't pose the next
104
00:04:12,480 --> 00:04:13,560
question to ask.
105
00:04:14,460 --> 00:04:14,720
Yes.
106
00:04:16,779 --> 00:04:20,880
I think the more you want to tailor
107
00:04:23,200 --> 00:04:27,580
your planning, the more you might need some
108
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involvement on the human level.
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I think we find that there's a whole
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element of a conversation we have, Russ, when
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we're talking about a financial plan, that it
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involves family dynamics.
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It involves aspirations, fears, anxieties,
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priorities.
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Some of this that's maybe on an emotional
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level to some extent, but that's not the
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kind of thing you're going to put into
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your query with a co-pilot or chat
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GPT or whatever.
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Right.
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It'll take the input and it'll give you
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an output.
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Usually, it's based on some kind of math.
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If it's, will this money get me this
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far or whatever?
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Right.
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A lot of the time, it's not the
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most optimal mathematical decision that ends up being
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the one that people choose.
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That's a great point.
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The most common question we get asked, it's
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among the most common questions.
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Right.
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Did I pay off my mortgage?
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There's a math question involved.
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I'm getting 6% interest rate on my
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investments, but my mortgage is under three or
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whatever it really is, but some number.
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Should I pay off my mortgage?
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Well, the arithmetic of that is, why would
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you?
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Now, there's risk in my portfolio.
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If my cash is getting me greater than
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three, then it's a no-brainer.
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You're keeping that mortgage.
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Right.
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But you could ask the same person who
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has a, not the same person, but another
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person who has a paid off mortgage and
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say, hey, you can get a mortgage for
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4% and invest it and get six.
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Do you want to take a mortgage out
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on your house?
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That's a great point.
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I know people would generally be like, no.
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But I think what we often talk about
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with people is, the math is one way
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to answer the question, the arithmetic.
