By Jason LaBarge
My path to becoming a financial advisor was largely shaped by watching my grandmother manage her finances after my grandfather passed away unexpectedly.
At the time, being young and unsure of how to help made it especially difficult to witness her struggles. That experience ultimately inspired me to pursue a career in finance, and that same passion continues today as we guide families through their financial decisions and help build plans aligned with their retirement goals.
Today’s landscape is very different from the one my grandmother navigated in the 1980s. Information is as accessible as ever through the use of artificial intelligence, with two-thirds of Americans reporting using AI for financial advice.
Relying solely on AI can be problematic and may lead you down the wrong path. Here are three key differences between artificial intelligence and a human financial advisor that could make a difference in your financial journey:
1. AI doesn’t understand your financial situation and your goals.
AI doesn’t have the same nuanced understanding of your finances that financial advisors have. It can’t determine how each of your factors influences your financial goals, like traveling during retirement, planning long-term health care, and passing down your legacy to your family. AI can be a very useful tool for doing research or generating ideas, but it cannot be used blindly.
Relationships are crucial to financial planning. At LaBarge Financial, while we use AI for simple tasks like notetaking, there’s always a human on the other end of the screen interpreting the information and using our human touch to create a custom financial plan that’s right for you.
2. AI lacks professional experience.
Experience matters in the financial industry, and I’ve worked in this field for 20 years.
Experience sets professionals apart from artificial intelligence. Past experiences help guide informed decisions, which are crucial as markets change. You need an advisor who will proactively recommend changes or strategies when you need them.
Experience doesn’t just stop at retirement planning. Good financial advisors offer a seamless, one-stop shop for every aspect of your finances to provide quick and easy service from multiple experienced professionals.
3. AI isn’t always accurate.
AI has access to more data than we can comprehend and can provide you with information in seconds. However, some AI capabilities can produce biased output, which may be false or misleading when missing or lacking critical facts. Unless you do further research, it can be hard to discern fact from fiction.
You can’t afford to take risks with your financial future. It’s important to build trust with a financial advisor who cares about your well-being. They can provide high-quality information designed to serve you and adjust your portfolio as market conditions change.
I still carry the same passion for finances that developed as a child watching my grandmother. If you’re looking for financial advice, consider working with a human financial advisor who cares about you and will work tirelessly to help you achieve your financial dreams. You deserve it.
AI won’t replace my job, but a human using AI could. That’s why at LaBarge Financial, we’re using it in ways to make our work more efficient and capture information that we can use to better serve you. Someone can only best treat you if they have all the information, and AI is one tool to help capture those important details. Our philosophy is that people come first, money second, and that sets us apart from artificial intelligence.
Jason LaBarge, financial advisor and president of LaBarge Financial
7 Riggs Avenue, Severna Park, MD 21146
443-647-4321
Securities offered only by duly registered individuals through Madison Avenue Securities LLC (MAS), member FINRA/SIPC. Investment advisory products and services made available through AE Wealth Management LLC (AEWM), a registered investment adviser. MAS and LaBarge Financial are not affiliated companies. 3863591 – 3/26