No, me neither. ‘Hyper Personalisation’ sounds like the financial advice equivalent of, not just a tailored suit, but made to measure shoes, shirt, socks and underwear. It turns out it’s all about, you guessed it, AI and how it might be used to work out and implement financial plans for you as a client with as little human involvement as possible. Now, if you’ve tried or had a demo of the most popular and accessible bit of AI, ChatGPT, you’ll know that it is astonishing. You can ask it pretty much anything and it will write an essay of highly articulate answers. The application of this to much of the endless report-writing we have to do in our business could and would be a boon. The gist of this, however, is that big banks, insurance companies and the like might use it to replace actual advisers, who’ve been the source, as they might see it, of their past compliance and compensation-payment problems. Which is a rather different thing.
“Why people over the age of 55 are the new problem generation”
I suspect that many a ‘boomer’ might be pleased with the ‘problem generation’ label. When they were teen- or twenty-somethings, their parents’ generation may well have either despaired of them or worried about the world into which they were emerging as adults; it will ever be thus.