Unlock the Editor’s Digest for free

Shares of the biggest wealth managers on both sides of the Atlantic suffered double digit declines this month after a US-based fintech launched an AI-led tool to help financial advisers personalise clients’ investment strategies.

The worry for investors was over how the technology might undermine the traditional wealth management industry. Jason Wenk, chief executive of Altruist, which developed the tool, warned it made “average advice a lot harder to justify”. 

If you’re already cutting out the middle man and using ChatGPT or other AI tools to help plan your retirement or help with pension advice, we’d love to hear from you. How are you using it? What do you make of the quality of its output? Have you been aware of major mistakes? Do you think it can replace human advice?

Please get in touch via money@ft.com. We will only publish your name with your permission.