Why Advisors Need to Understand AI to Survive

Financial advisors have a unique job. To be competent, they must deeply understand some highly specialized topics centered around finance. But to be truly great, advisors must understand the big ideas that are shaping the future. They can’t just coast on being financial experts — they must grasp the nuances of various governments, policies, and global trends. Some of these trends involve fields that are themselves deeply specialized. Artificial intelligence, for example, demands a profound understanding of robotics, automation, computer science, and even philosophy. For a practice to thrive, advisors must understand AI.

Advisors Must Be Well-Rounded

Having a diverse base of knowledge is every bit as important as having a diverse portfolio. Accordingly, advisors who maintain an innate curiosity will be better positioned to help their clients. But this means taking concrete steps to truly understand a variety of topics. When the pandemic began, lots of people became amateur epidemiologists without taking the steps to fully wrap their heads around the science. It’s not enough to read an article or two; to understand a topic you need to seek the experts and dig in. This makes the advisor’s job uniquely challenging, as clients will lean on their understanding of the big forces shaping the world.

Why Advisors Need to Understand AI

AI is positioned to change society on a foundational level. Furthermore, this means that clients are likely to want to invest in it. According to VettaFi head of research Todd Rosenbluth, “Advisors are likely hearing from clients they want exposure to artificial intelligence in their portfolio. However, understanding what companies are best positioned to leverage the technology is a challenge. This is why I’m excited to talk to experts from leading asset managers who are focused on this emerging trend.”

VettaFi’s AI Symposium is this Wednesday and offers advisors access to some of the brightest minds and thought leaders. What’s more, the speakers at the event truly understand the topic in a profound and real fashion. Any advisor looking to up their game and grow their practice needs to understand this technology. Fortunately, registration is free and CE credits are available.

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