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Artificial Intelligence in Financial Planning

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Artificial Intelligence in Financial Planning

This course is part of Artificial Intelligence in Finance and Wealth Management Specialization

Instructor: Dr. Craig Lemoine

2,066 already enrolled

Included with

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3 modules

Gain insight into a topic and learn the fundamentals.

12 reviews

Beginner level

No prior experience required

8 hours to complete

Flexible schedule

Learn at your own pace

3 modules

Gain insight into a topic and learn the fundamentals.

12 reviews

Beginner level

No prior experience required

8 hours to complete

Flexible schedule

Learn at your own pace

What you'll learn

Understand the background and unique approaches of financial planning firms, and the roles of key team members.
Explain and evaluate different compensation models and the adoption of fintech and AI tools in financial planning.
Explore the impact of AI on job roles, client relationships, and the financial planning industry as a whole.
Evaluate the ethical considerations and challenges of implementing AI in financial services, ensuring AI tools prioritize the client's best interest.

Skills you'll gain

Tools you'll learn

Generative AI

Details to know

Shareable certificate

Add to your LinkedIn profile

Assessments

5 assignments

Taught in English

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Build your subject-matter expertise

This course is part of the Artificial Intelligence in Finance and Wealth Management Specialization

When you enroll in this course, you'll also be enrolled in this Specialization.

Learn new concepts from industry experts
Gain a foundational understanding of a subject or tool
Develop job-relevant skills with hands-on projects
Earn a shareable career certificate

There are 3 modules in this course

This course delves into the integration of Artificial Intelligence (AI) in financial planning, offering a comprehensive understanding of how AI tools and technologies are transforming the industry. Through three detailed modules, learners will explore the integration of AI in financial planning, innovative AI tools, and the ethical considerations involved. Designed for financial professionals, advisors, and anyone interested in leveraging AI to enhance financial planning and advisory services, this course equips learners with the knowledge and skills to effectively and ethically incorporate AI into their financial planning practices.

Featuring Experts: Mark Friedenthal: Founder and CEO of Tolerisk Dr. Matt Goren: Financial Educator and Consultant Tyrone Ross Jr.: CEO and Co-Founder of Turnqey Labs Charles Clark: Founder of Sales Pistons LLC Mikel Van Cleve: CERTIFIED FINANCIAL PLANNER™ professional Rick Williamson: Director of Brand Experience at Redtail/Orion Advisor Technology Kellan Brown: COO / CDO at 100 Women in Finance Johnny Poulsen: CEO and Co-Founder of Income Lab Dr. Julie Ragatz: Vice President of Financial Planning and Advisor Growth at Carson Group This course is a non-credit course that is part of the College of ACES suite of online programs. Learn more about online programs and explore ways to work toward a degree program at College of ACES Online Programs at acesonline.illinois.edu.

Module details

You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course. Then dive into the second part of this module to explore the background of Model Wealth, the roles of key team members, and their unique approach to financial planning. You'll dive into different compensation models in financial planning, like commission-based, AUM, and advice-only models. We'll also explore how fintech and AI tools can improve client experience and efficiency. By the end of this week, you'll have a solid understanding of how AI can be integrated into financial planning and why it's so important for the future of the industry.

What's included

10 videos4 readings2 assignments1 discussion prompt

10 videosTotal 42 minutes

Course Overview1 minute
Meet Your Instructor | Craig Lemoine2 minutes
Module 1 | Overview1 minute
Introduction to Model Wealth and Team Members3 minutes
Evaluating FinTech and AI Tools5 minutes
Compensation Models in Financial Planning9 minutes
Meet Dr. Michael Thomas 7 minutes
Understanding Behavioral Finance6 minutes
The Role of AI in Behavioral Finance7 minutes
Module 1 | Wrap-Up1 minute

4 readingsTotal 35 minutes

Syllabus10 minutes
Updating Your Profile10 minutes
Meet the Experts5 minutes
Machine Learning for Financial Forecasting, Planning and Analysis10 minutes

2 assignmentsTotal 60 minutes

Orientation Quiz30 minutes
Module 1 | Knowledge Check30 minutes

1 discussion promptTotal 10 minutes

Getting to Know Your Classmates10 minutes

In this module, we're diving deeper into the world of AI in financial planning. We'll address concerns about AI replacing jobs and highlight the irreplaceable value of human connection in the industry. You'll learn about the process of adopting fintech and AI tools, focusing on client experience and efficiency improvements. We'll also explore the impact of generative AI on the financial planning industry and understand AI as a thought partner rather than a replacement for human advisors.

What's included

12 videos2 readings1 assignment

12 videosTotal 61 minutes

Module 2 | Overview 1 minute
The Future of Financial Planning9 minutes
Comprehensive Financial Planning5 minutes
Embracing Change and Technology2 minutes
Implementing Video Recording for Client Meetings1 minute
Enhancing Client Experience with Technology7 minutes
Cody's Journey in Financial Planning8 minutes
Unconventional Investments and Simplified Strategies5 minutes
Minimalist Approach to Technology in Financial Planning5 minutes
The Future of Financial Planning with AI7 minutes
Sustainable Investing: Balancing Financial Viability and Ethical Choices10 minutes
Module 2 | Wrap-Up1 minute

2 readingsTotal 15 minutes

Meet the Experts5 minutes
Transforming Financial Planning with AI-Driven Analysis: A Review and Application Insights10 minutes

1 assignmentTotal 30 minutes

Module 2 | Knowledge Check30 minutes

In our final module, we're focusing on the ethical considerations of integrating AI into financial planning. You'll learn about the role of ethics in financial advisory, the impact of fintech on onboarding processes, and the importance of social-emotional skills in building client relationships. We'll evaluate the challenges and ethical considerations of implementing AI in financial services, ensuring AI tools are unbiased and prioritize the client's best interests. After this module, you'll be ready to complete the final assessment for the course and earn your Coursera certificate!