The Artemis II mission, even for those not interested in space travel, was exhilarating to follow. History was made on multiple levels. In addition, boundaries of AI-powered tools were expanded and tested with success. And yet, amidst all the AI, science and super-computing power, a very manual, while highly-skilled, aspect was necessary to retrieve the astronauts’ following their splashdown in the Pacific Ocean: US Navy SEALS and dive teams were called upon to recover and skillfully airlift — by hand — the four astronauts from the space capsule as it floated in the ocean.
An observant colleague of mine at Farther recently equated this scene to the financial planning relationship between clients and a highly-skilled financial adviser. Before dismissing this comparison, consider a few insights:
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- In a true financial planning relationship, technology and AI are combined with basic, interpersonal interactions to strive toward successful outcomes.
- The financial services industry, as with most industries, is undergoing massive positive transformation through the use of AI tools and technology.
- New precision, insight and efficiency has been created for both advisors and clients.
- At the same time, the most important elements of a person or family’s financial life—values, family priorities, tolerance for uncertainty, and the trade-offs willing to be made—cannot be fully captured by an algorithm.
In those moments when markets are volatile, careers shift, or life takes an unexpected turn, it is not merely a tool that provides reassurance and perspective; it is a person who understands you, your net worth and the future you are working toward.
Obviously the skill set of a Navy SEAL is entirely different from that of a financial advisor or asset manager. But the fact remains: the skill set of a financial adviser needs to be just as disciplined and as purpose-driven when it comes to an understanding of the goals, objectives and lifestyle the client wishes to achieve.
This point was worth sharing as all of us are still in awe of the history-making Artemis II mission going farther (pun intended) from earth than ever reached by humans.
This material has been prepared for informational purposes only and is not intended to provide, and should not be relied upon for, tax, legal or accounting advice.