AI and Automation in Financial Planning: Friends, Not Replacements

Fitting the theme for this article, I actually asked ChatGPT to write the outline in my usual style.  I have then done a little bit of editing, but hopefully you’ll agree that the article is very similar to one that I would have written entirely unaided.

When people hear terms like AI and automation creeping into the world of financial planning, it’s easy to worry that humans might be pushed aside in favour of algorithms. Fortunately, the truth is far more reassuring. AI isn’t here to replace thoughtful financial advice – it’s here to support it.

Think of it this way: just as a power drill makes building a house quicker and easier, it still takes a real person to design the house, use the tool properly, and make sure the roof doesn’t end up upside down.

Let’s dive into how AI and automation are reshaping financial planning – and why the human element remains essential.

What Do We Mean by “AI and Automation”?

First off, let’s demystify the terms. AI (Artificial Intelligence) isn’t some all-seeing robot. It’s simply software that can spot patterns, learn from data, and help with decision-making faster than we could manually.

Automation is even simpler: it’s about getting computers to handle repetitive tasks so we don’t have to. Think portfolio rebalancing, flagging when a tax allowance is about to expire, or analysing thousands of investments in a fraction of the time.

In short: they’re tools. Powerful ones – but still tools.

Where Technology Helps – and Where It Doesn’t

There are plenty of ways AI and automation help make financial planning better:

• Efficiency: Automating admin tasks means less paperwork and faster service for clients.

• Monitoring: Your investment portfolios can be checked constantly, not just during your annual review.

• Analysis: Tools can quickly identify opportunities or risks based on vast amounts of market data.

But – and it’s an important but – technology can’t:

• Understand your personal goals or values.

• Recognise the emotional impact of big life events like divorce, illness, or retirement.

• Offer the human reassurance needed when markets wobble and the news gets scary.

It’s a bit like using SatNav: it will get you to your destination faster, but only if you know where you want to go – and when to trust your gut over the voice telling you to “Turn left now” into a field.

How We Use AI and Automation at Aegis Financial

At Aegis Financial, we’re big believers in using the best tools available – as long as they actually add value for you.

We use technology behind the scenes to:

• Track your investments efficiently.

• Help identify when your portfolios might benefit from adjustments.

• Make administrative tasks quicker and less painful (for both of us!).

All of this means we can spend more time focusing on what really matters: understanding your goals, reviewing your plan, and giving advice that’s personal to you – not just to a computer.

Of course, as already mentioned, we’re also using ChatGPT to write articles, and have built a robo assistant using that technology as a core communication feature.

Future Developments: What’s Coming Next

Technology will keep evolving – and that’s a good thing. In the coming years, we expect to see:

• Even smarter investment strategies.

• Greater integration between your various financial products (pensions, ISAs, savings).

• AI helping to spot things like unclaimed allowances or inefficiencies – meaning we can act even faster on your behalf.

But, just like today, the real value will still come from thoughtful planning, good advice, and understanding your unique journey.

We’re also hoping that eventually our assistant, Rob, will be able to give basic advice.  While he’s not there yet, you can still ask him questions about financial planning in general to see how he responds.

Conclusion: Building Your Future, With the Best Tools

AI and automation are changing financial planning for the better – but they’re not a replacement for real conversations, real advice, and real partnerships.

At Aegis Financial, we’re proud to combine smart technology with the even smarter human touch. If you’d like to find out how we can help build and implement your financial blueprint – using the best tools available – we’d love to have a chat.

Get in touch today.