Bot bucks: Reflexivity CEO predicts AI will replace human financial advisors

Jan Szilagyi, CEO of financial technology company Reflexivity, predicts that AI tools will eventually replace human financial advisors entirely. His bold assertion comes as the financial services industry grapples with increasing automation and the potential for artificial intelligence to reshape traditional advisory relationships.

What you should know: Szilagyi’s company has developed AI-powered chatbot technology designed to provide financial guidance and advisory services.

• The CEO appeared on CNBC’s ‘Power Lunch’ to discuss his vision for AI’s role in financial planning and wealth management.
• Reflexivity is positioning itself at the forefront of this technological shift, betting that automated solutions will prove more effective than human advisors.

Why this matters: The financial advisory industry manages trillions of dollars in assets and employs hundreds of thousands of professionals who could face displacement if AI tools prove capable of delivering comparable or superior advice.

• Traditional financial advisors often charge fees ranging from 1-2% of assets under management, creating a significant cost advantage for AI-powered alternatives.
• The prediction raises questions about the future of personalized financial guidance and whether technology can replicate the trust and emotional intelligence that human advisors provide.

The bigger picture: Szilagyi’s forecast reflects a broader trend of AI disruption across professional services, from legal research to medical diagnosis.

• Financial services firms are already investing heavily in robo-advisors and automated portfolio management tools.
• The success of AI in financial advisory roles could accelerate adoption across other client-facing professional services where personalized expertise has traditionally been valued.