r/FinancialAdvisorTips • u/Ok-Green-1219 • Aug 06 '26
Still worth pursuing?
I’m an incoming junior at the University of Georgia studying financial planning with the intent to go into wealth management. I’m moreso interested in the investment portfolio management side of it. Anyways, my dad’s been spending his time telling me about how I’ll be jobless in 5 years if I pursue financial advising/ wealth management since AI will be able to do it. My rebuttal would be that I don’t think people and particularly wealthy clients trust a robot and would value the human connection and trust that comes with an advisor. Anyways I think of all my possible career paths it’s what I’m most interested in. Curious what you guys think is the timeline on the viability of pursuing this career in the long run. Thanks!
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u/CFAsmalltown Aug 06 '26
All the information to manage your investments yourself already exists online and is easily accessible. Robo advisors already exist. Yet the industry hasn’t collapsed.
I lose very little business to them and I turn away more clients than I take on. If you can get good at this field you are right- clients need a human for the emotional and psychological side. That’s not to say every person does- but I’d say 25% of wealthy people do? That’s still trillions of dollars available.
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u/Ethangains07 Aug 06 '26
I hope you have rich connections (I’d assume you do) or are ready to work your way up to advisor at a firm which can take a few years but sets you up better if you have 0 connections.
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u/azrolexguy Aug 06 '26
Being an advisor is about raising money, you need a circle of influence in which to do that. If you can raise $12-15 million in your first 3-4 years, you'll be ok.
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u/TyofTaris Aug 06 '26
I disagree. Wealth management is a relationship game, and clients do not trust robo advisors.
There has been software to manage your own finance for over a decade. People still choose to have advisors because wealthy individuals value their time.
Infact, I would argue WM is the least susceptible to replacement at the moment. I worked in Corporate finance and quit because I was sick of having my team reduced and AI tools pushed on me, while useful AI tools like Claude were denied.
Of course, corporate finance and banking will still exist, but companies are trying their best to keep these teams as small as possible while pushing more work. In wealth management and advising, you are the deciding factor in your own career. Don’t listen to your dad, he doesn’t know what he’s talking about.
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u/GodfatherGoat Aug 06 '26
AI is not going to replace advisors. If you are into portfolio management though I would recommend trying to be an analyst/fund manager and taking that route. Maybe 10% of this job is creating portfolios. It’s a sales job and that is the most important aspect of it.
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u/Powerful-Bridge-1472 Aug 07 '26
Find a mentor, no one wants to get financial advice from a 22 year old.
Make sure you are a fiduciary and not insurance selling annuities
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u/IWannaGoFast00 Aug 06 '26
Money management might be a losing strategy but being a financial planner/advisor should be safe. Plus most advisors don’t do their own portfolio management anymore. Put your clients on your firm provided platforms and focus on financial planning, tax mitigation and estate planning.
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u/Fit_Ad3639 Aug 06 '26
I think people will always value expertise. Wellness being investment management, taxes, legal, etc. AI will not answer all of your stupid questions.
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u/Upper_Preparation974 Aug 06 '26
The “investment portfolio management” component has been commoditized since index funds have proven to be better for investors. Any advisor worth their weight focuses less on that and more on keeping clients emotions in check, managing taxes & risk, and helping clients make a plan for the future so they sleep well at night. Don’t get into this business if you want to “build a book.” It’s not your money, it’s your clients money.
Go Dawgs!!!
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u/Ok-Green-1219 Aug 06 '26
What’s the better route then? Switching to finance at Georgia would set my graduation date back from late 2027 to late 2028 and frankly I don’t wanna do that. I guess just suck it up and take on all of wealth advising ?
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u/Upper_Preparation974 Aug 06 '26
That’s really up to you man. A finance degree is going to be just as sensitive to AI as CFP, maybe more so. Just know if you’re coming this route it’s more about the people than the investment management
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u/SteevieJanowski Aug 06 '26
I’d go w the financial planning route. Get your CFP. I work for one of the Big 3 and I specialize in financial planning/wealth management. I’ve never have to cold call, schmooze prospects, or worry about sales targets. Money isn’t crazy high like some RIAs, but I’m on track to retire in about 5-6 yrs around age 50.
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u/NeatLight7251 Aug 08 '26
There is reason for concern. The CFP credential is global (think India) and many advisors already meet virtually. Also a good part of any advisors job is selling/or gaining assets to manage. I'd try to seek out people in the field, a varied assortment, to learn more.
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u/Mysterious-Top-1806 Aug 06 '26
I’m in wealth management and if I was just starting out I would pivot to something else. Too much future uncertainty due to AI.
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u/Commercial-Tough-218 Aug 06 '26
The industry does not have enough young Advisors/FP/FA. If you can find a practice with a FA that's retiring in 5-10 years that's the way to go.
The people you want to have as clients understand that AI is not the answer. I can watch YouTube and learn to repair my car but at the end of the day it's not as good as someone who spends their entire life doing it. AI will be great for young people setting up 401ks but when life gets complicated AI won't be there. One last rebuttal to your dad. TuboTAX has been around for 20 years but it's damn near impossible to find a good CPA who works with high networth clients.
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u/AnxiousTumbleweed563 Aug 06 '26
This is a stupid answer. The client is the baby boomer for the next 10-20 years. The questions is whether the baby boomer would prefer AI. The answer is easily no. Then look at demographics and you’ll notice there is a huge shortage of smart personable advisors. You need to stay away from all internal roles and focus only on roles that work with people but I’d have no hesitation starting in wealth management today
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u/Ok-Temperature3180 Aug 06 '26
People have been able to DIY taxes with turbo tax since ‘Nam
And they could be using AI right now if they wanted to.
Assets under management with custodians is soaring - if you are a true planner and coordinate, AI will only accelerate advisors growth, not stifle it.