AI isn't going away but that doesn't mean we should adopt it uncritically, writes Scott Daniels. Here, he looks at what happens to the price of advice if the cost to serve has decreased...
I recently spoke at the CISI Paraplanning Conference, where the panel explored the role of artificial intelligence (AI) in paraplanning. Now, I don't know about you, but I'm starting to get whiplash from the sheer volume of AI headlines. Depending on who you listen to, it's either going to save the world or destroy it. So instead of feeding the hype, I took a step back and asked a more grounded question: how does the use of AI in financial planning intersect with the Financial Conduct Authority's Consumer Duty, particularly the price and value outcome? I'm not talking about how AI ...
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