This question is becoming one of the most common money-related prompts typed into AI:
“Can ChatGPT replace my financial planner?”
It’s understandable. AI is fast, accessible and confident.
It explains concepts clearly.
It produces instant summaries.
It models generic examples.
It feels like a financial adviser.
What AI Does Well
AI excels at:
- explaining complex rules simply
- summarising legislation
- comparing general strategies
- clarifying definitions
- creating draft budgets
- modelling simple hypothetical scenarios
- outlining pros and cons
- giving starting points for deeper thinking
For curiosity and education, AI is brilliant.
Where AI Breaks Down
But financial planning isn’t purely an academic exercise.
It’s a real-world system with human behaviour, competing priorities and unintended consequences.
AI cannot:
- detect emotional biases
- manage fear or overconfidence
- weigh trade-offs between lifestyle and long-term security
- understand family tensions or dynamics
- recognise hidden goals or unspoken pressures
- foresee conflicts between tax, cashflow and legal structures
- protect clients from impulsive decisions
- manage sequencing risk
- interpret context that a client doesn’t articulate
- apply professional judgement when rules collide
It doesn’t know when you’re anxious, uncertain or making decisions out of stress.
It doesn’t know if your marriage, job security, health or parents’ health is influencing your choices.
The Real Question Isn’t “Can AI Replace a Planner?”
The real question is:
“Can AI carry the responsibility of shaping a 30-year financial outcome?”
The Smartest Approach
Use AI for:
- curiosity
- research
- clearer understanding
- quick questions
- education
Use an adviser for:
- decisions that carry consequences
- structuring and sequencing
- life transitions
- retirement modelling
- behavioural coaching
- accountability
- long-term strategy
AI gives answers while a financial planner provides clarity.
And when it comes to shaping your future, clarity is the only thing that compounds faster than money.