Microsoft Thinks AI Can Replace Wealth Managers. Advisors Say: Yeah, Right.

The industry isn’t sweating the new research as clients largely prefer bespoke plans from actual humans.

August 19, 2025Updated 20 hours ago

Artificial intelligence has proven to be a competent co-pilot for note-taking, document organization and compliance checks. But if Microsoft’s predictions are right, AI may soon be saying: “I’m the captain now.”

In a recent report, the tech giant ranked 40 jobs by AI applicability, placing advisors at No. 30, between data scientist and archivist. While that may sound threatening given the years it takes to learn the trade and build a book of business, many in the industry aren’t worried about being replaced. Clients still want customized financial plans and a human they can talk to in moments of doubt.

“We saw this with robo advisors in the early 2000s and the 2010s,” said Scooter Thomas, a CFP with Savant Wealth Management. “When someone is putting their life’s savings into your care, they want to be able to call you and ask if everything is going to be alright, and hear an empathetic person on the other end of the phone.”

Mo Money, Mo Problems

Most AI programs excel at pulling and analyzing vast amounts of data. It makes sense for roles like interpreter and translator to be at the top of Microsoft’s list. But financial advising is more nuanced, said Adrian Johnstone, CEO of Practifi, a CRM platform. “Looking back at market trends and the impact of geopolitical events is one part of the equation,” he told Advisor Upside. “The other part is understanding an individual’s needs and drivers.”

Tools like ChatGPT and Gemini can answer basic investor questions, but actual financial planning may still require human assistance. “The more wealth you have, the more important it is to have a human advisor,” said Stephen Caruso, associate director of wealth management at Cerulli. He added that much of an advisor’s value comes from managing emotions, something AI just can’t do right now. Caruso pointed to a recent Cerulli and Edward Jones study showing that advised clients with a financial plan had fewer emotional reactions to this year’s economic turmoil than those without advisors. “Their portfolios were still exposed to intraday market shocks,” he told Advisor Upside, “but from an emotional perspective, they knew where their plans were.”

For any advisor still fretting over AI replacing them, don’t feel too bad. Some have it worse: journalist was No. 16 on the list. *Gulp*.