The Human Touch: Why You Should Talk to a Trusted Financial Advisor Instead of a Robot

The Human Touch: Why You Should Talk to a Trusted Financial Advisor Instead of a Robot

June 02, 2023

All the recent advancements and usability of artificial intelligence (AI) can be really exciting. But no matter how many ones and zeros a computer can crunch, it can never take the place of a human who is dedicated and knowledgeable in their craft. 

This is especially true in the area of your finances. The benefit of the personal touch of a trusted financial advisor will never be beaten—no matter how good the software. Here are some important advantages to remember when thinking about who will handle your money.

Expertise

Robo-advisors are helpful when you’re just starting your financial journey and have smaller balances to manage. Since there are often fewer fees with a robo-advisor, it’s a good fit for beginners. However, if you’ve been letting your robo-advisor run the show for a few years while your finances have grown and become more complex, it might be time to upgrade to a human financial advisor. 

These are certified professionals with years of expertise in a wide variety of financial situations. Financial advisors are trained to help clients manage their finances and pursue their money goals. They stay up to date on the latest financial news and trends, which can help you receive the most current and relevant advice. No matter what’s happening in the markets or in your accounts, your financial advisor is equipped to develop the plan you need to pursue your financial goals with confidence. 

Personalized Advice

The help of a robo-advisor is limited to its algorithm or the lines of code it uses to make decisions; and it only makes decisions with the basic information you provide. Data such as your risk tolerance, investment amount, and time horizon are used to calculate the best investments for you. Again, great for beginners. 

When life gets more complex, you need financial advice that’s customized to your specific situation. A financial advisor takes a holistic approach to managing your money by reviewing your situation in greater detail. They get to know you, not just the numbers. They help you identify areas of improvement and find ways to solve your biggest financial issues. 

A financial advisor is there to help you lay out a plan toward your financial goals too. A human advisor might help you strategize how you can retire early, how to expand your small business, or how to pay for your child’s college tuition.

Emotional Support

Finances are usually seen as a more logical topic, but emotions are deeply connected to your financial situation in ways you might not have considered. During times of economic uncertainty, you might feel scared, stressed, or concerned. When things are going extremely well, you might feel overjoyed, carefree, or impulsive. These emotions affect your ability to make wise financial and investment decisions. 

A trustworthy human financial advisor guides you through those decisions with greater clarity. Instead of letting your emotions run the show, advisors look at your situation objectively to help you make an informed decision even in challenging moments.  

Accountability

If you’ve had trouble sticking to your financial plan before, a financial advisor could provide the accountability you need. Financial advisors and planners can help you create a budget, track your expenses, and monitor your progress toward your financial goals.

They’ll also help you keep those end goals in mind when you consider the other financial decisions you want to make. If your goal is to buy a home, your financial advisor might remind you of that when you want to purchase a new Rolex. 

Work With a Human Financial Advisor

AI technology in the future will be incredibly useful, but don’t let its limitations get in the way of your ideal future. Partnering with a trusted financial advisor is still the best way to feel confident that your finances are going to work for your plans. At Center for Wealth Management, we are dedicated to giving you a personal and relational experience with the excellence and knowledge we have always been known for. Schedule a free introductory meeting online, call (248) 220-4321, or email me at justin@cwmfinancial.net.

About Justin

Justin Williamson is a senior partner and co-owner of Center for Wealth Management, an independent, fee-based wealth management company in Troy, Michigan. Justin has been serving clients in the financial services industry since 2001. He spends his days helping his clients achieve their financial goals and make the best decisions for their families so they can spend time on what they love and experience financial peace of mind. Justin is known for his dedication, integrity, personal touch, and ability to simplify complex issues. Justin specializes in serving engineers and other professionals who are close to retirement or recently retired and helping them maximize their benefits and create a retirement plan they can rely on. He is a seasoned public speaker and presents at numerous corporate events each year on retirement planning, Medicare, Social Security, and other financial topics. Justin has a bachelor’s degree in Business Administration majoring in Personal Financial Planning from Central Michigan University and is a CERTIFIED FINANCIAL PLANNER™ practitioner. 

Outside of work, Justin enjoys spending time with his family. He and his wife, Corinne, have five children between them ranging in age from sixteen to twenty years old. Justin lost his first wife, Heather, to brain cancer in 2020, and thus has experienced firsthand the emotional, mental, and financial challenges spouses and children go through when dealing with such a tragic situation. Outside of work, Justin enjoys coaching or attending baseball, softball, powerlifting, and basketball events, traveling to new locations, and spending time at the family cabin at Higgins Lake. Learn more about Justin by connecting with him on LinkedIn.