Is this the END of human Financial Advisors? Asking ChatGPT my client’s questions

Josh Olfert is a professional CFP financial advisor and the Founder of Haven Wealth based in Canada. Through this channel Josh shares his knowledge of wealth accumulation and personal investing to the world, in an effort to improve financial literacy and help advisors and their clients achieve their financial goals.

All numbers and figures discussed in this video are purely for illustrative purposes and are not to be taken as financial advice.

[NumberButter]

Great video! Only thing I can say is that chat gpt generates a response based on the previous question. You should hit the little plus button, it will open a new chat and will create an answer not based on any previous input

[alexensminger]

Your video popped up through the algorithm. Keep up the consistency man great videos!

[patdel]

It's fascinating how you get videos from someone like you with on the order of 10k subscribers and it's a calm, methodical, level-headed assessment, whereas people with orders of magnitude more subscribers are giving absolutely crap takes that are just wrong. As to what you said at the end - as someone who has been working with GPT's for years on a technical level...no, I don't think GPT's, or rather Large Language Models, by themselves will get to the level you are subscribing. I go into more depth on how they work in one of my videos. It's possible that additional software could be added on to the GPT/Language model to spit out better advice over time, sort of like an add on for a product from Intuit or something, but on its own, it's really just spitting out probabilistic garbage and making guesses. By themselves, these language models cannot do pure deterministic math. It's possible they could be improved, but it's based upon probabilities, not determinism.

[AdvisorFinder]

Wow! Great video on a complex topic. We agree with your conclusion - people want a human touch.

[MiguelFernando]

The answer on #2 was pretty good - it really covered a lot of bases

[madpiez]

Great video. I'm studying to be a CFP and often question job security with the rise of AI.

[rtyler]

Actually I think that Financial Advice would not be replaced

[AlexStreltsov]

I literally did the same thing for fun.. asked it questions I get over email and the results were honestly scary good.

[davidmorrison]

I think, like you alluded to in the third question, that it’s only current through 2021 or something like that.

[rosskline]

This is a great "review" of sorts. Thanks!

[DuvalSoul]

I’m in the process of switching fields from a mechanic to an financial advisor. What do you suggest I should study on and get familiar with as an first year advisor?

[henrynielsen]

Definitely going to apply your Chat GPT tips to my practice 📈

[davidhelwig]

What type of investment solutions do you regularly use with most clients? Individual stocks, etfs, mutual funds?

[alicesutton]

Hello Josh, thank you for the information. I been trying to get a hold of you, for sometime are you taking any new clients at this time. Please let me know thank you very much. 4:13

[amolmore]

Hi Josh, I am working with wealth management organisation and this is my first sales job. I find it difficult to get new customer who would be interested in my product. Can you help how to do it

[DeLanoLLoya]

Chat GPT has made errors in reasoning. My brother has showed me it. Never blindly trust a machine 😂

[spencercopley]

Instead the advisors will utilize ChatGPT to become even better! Client facing roles will always be around… for the rest of time. Jobs like traders for banks, etc… we are already seeing those jobs get scratched.

[GarettMiller]

I feel like if these people were taught how to use chat gpt and knew they were going to be dealing with Chatgpt Then the tests would have been more in chat gpt's favor. They are asking questions to you, but if they knew they were using chat gpt they would probably form the questions differently. At least if they have any experience using chat gpt.

[BulletPointFitnessPodcast]

Haven't been able to get on Chat GPT the last few days. Their servers are always overloaded 😔

[bigman]

Yup it’s totally the end of financial advisors when the advice it’s giving you is to literally speak with a a professional