What Will Advisors Do if AI Takes Over the World?

Group 1 - AI is making significant inroads in the financial planning industry, with tools assisting advisors in administrative tasks and investment management suggestions [1] - Predictions indicate that over 6% of US jobs, equating to approximately 10.4 million positions, may be replaced by AI and automation by 2030, prompting some financial advisors to consider backup plans [1] - The use of AI in financial planning is expected to increase access for mass affluent individuals who previously lacked access to human advisors, while also potentially leading to price compression for larger clients with non-complex needs [2] Group 2 - Range, a wealth management firm, plans to eliminate its advisor base within the next one to three years as it develops its AI wealth management tools, indicating a shift towards automation in the industry [3]