AI chatbot, ChatGPT, is creating sensations and breaking barriers in different industries, and even giving financial advice to people. But can it really replace human financial advisors?
Someone in poor health or with medical problems should have an entirely different plan from a person who is healthy, said certified financial planner Carolyn McClanahan.
Financial planning, money management, and investments have traditionally been male-dominated and male-oriented. Even with women excelling in all fields of life and becoming increasingly independent, their financial planning still takes a backseat.
Life insurance is a wealth protection tool that many people use for financial planning, but it is particularly important for business owners. Mr Martin A Scott, Founder and Financial Planner of Lasting Wealth Principles, says the type and amount of life insurance depends on the business owner's specific financial situation and goals, but having it is important for three reasons.
In an environment of inflation, a possible recession, uncertainties in the economic and political spheres, people are looking for expert advice. Mr Tim Gerend, Chief Distribution Officer and EVP at Northwestern Mutual, says this is an ideal moment for financial advisers to make a game plan for accelerating or potentially transforming your careers.
People are storytellers, not calculators. While numbers confound us, stories define us. And yet, this fundamental observation about human nature is largely missed by the wealth management industry, to the detriment of both client and advisor.
The Financial Markets Authority (FMA) has released new guidelines for advisers when financial advice is given on financial products purchased for investment purposes.
Financial advice has traditionally focused on objective financial well-being. However, a new study by AIA Australia has shown that a client's subjective financial well-being is the missing piece of the well-being puzzle.
Ms Kelly Gwynn, an Associate Advisor at Moss Adams Wealth Advisors, cites the benefits of having a supportive team and the fascination of learning about financial planning's emotional and psychological side as reasons for loving her profession.
The Chartered Insurance Institute (CII) is looking to change the way it assesses the R06 financial planning practice unit in an effort to make the tasks more flexible and realistic.
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