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Artificial Intelligence in Wealth Management

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Artificial Intelligence in Wealth Management

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

Instructor: Dr. Craig Lemoine

1,967 already enrolled

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3 modules

Gain insight into a topic and learn the fundamentals.

13 reviews

Beginner level

No prior experience required

9 hours to complete

Flexible schedule

Learn at your own pace

3 modules

Gain insight into a topic and learn the fundamentals.

13 reviews

Beginner level

No prior experience required

9 hours to complete

Flexible schedule

Learn at your own pace

What you'll learn

Understand the basics of AI and machine learning in financial services, including their role in financial risk management.
Differentiate between advanced statistical methods and true AI, and analyze the impact of AI on the financial advisory profession.
Implement advanced AI-driven tools to enhance retirement planning and financial advisory services.
Evaluate the legal, ethical, and compliance considerations of incorporating AI into financial planning.

Skills you'll gain

Details to know

Shareable certificate

Add to your LinkedIn profile

Assessments

6 assignments

Taught in English

91% of learners achieved a positive career outcome

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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 provides a comprehensive overview of the transformative role of Artificial Intelligence (AI) in the field of wealth management. Through three detailed modules, learners will explore the foundations of AI, advanced AI tools, and future trends and challenges in AI for financial services. Designed for financial professionals, advisors, and anyone interested in understanding how AI can enhance financial planning, risk management, and client interactions, this course equips learners with the knowledge and skills to leverage AI technologies effectively and ethically in their professional practice.

Featuring Experts: Randy Bruns: Principal and Founder of Model Wealth, Inc. Alex Offerman: Senior Financial Planner, Model Wealth Inc. Anna Thorberg: Director of Operations, Model Wealth, Inc. Dr. Michael Thomas: Financial Empathy & Compassion Specialist Cody Garrett: Advice-Only Financial Planner and Educator Dr. Julie Ragatz: Vice President of Financial Planning and Advisor Growth, Carson Group Dr. Matt Goren: Financial Educator and Consultant Tyrone Ross Jr.: CEO and Co-Founder of Turnqey Labs 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 apply your 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 as we explore the basics of AI and machine learning in financial services. You'll learn what AI really is (and isn't), and how it's shaking up the financial advisory world. We'll also dive into the nitty-gritty of compliance and ethics, which are super important when dealing with AI. By the end of this week, you'll have a solid foundation to build on, and you'll see why understanding AI is crucial for anyone in the financial sector.

What's included

18 videos4 readings2 assignments1 discussion prompt

18 videosTotal 80 minutes

Course Overview1 minute
Meet Your Instructor | Craig Lemoine2 minutes
Module 1 | Overview 1 minute
Introduction to Foundations of AI in Financial Services3 minutes
Categories of AI3 minutes
What AI is and is not10 minutes
Guardrails around AI in financial planning and evolution8 minutes
A Profession Evolving4 minutes
Conclusion to Foundations of AI in Financial Services2 minutes
Understanding AI in Financial Risk Management7 minutes
AI in Financial Planning: Beyond Basic Predictions4 minutes
Differentiating AI from Advanced Statistical Methods4 minutes
The Importance of Integration in Fintech6 minutes
The Evolving Role of Technology in Financial Advisory5 minutes
Meet Dr. Matt Goren and Tyrone Ross Jr.5 minutes
How Are You Using AI in Your Companies?8 minutes
What Role Does Compliance Play in This Whole Process?6 minutes
Module 1 | Wrap-up1 minute

4 readingsTotal 35 minutes

Syllabus10 minutes
Updating Your Profile10 minutes
Meet the Experts5 minutes
AI in Wealth Management - Transforming Personal Finance for the Future10 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 taking things up a notch with advanced AI tools that can revolutionize your approach to financial planning and advisory services. You'll discover how AI can make retirement planning more efficient and effective, and you'll hear from FinTech experts about the real-world challenges and opportunities of integrating AI into financial services. By the end of this week, you'll have practical insights and tools that you can start applying.

What's included

9 videos4 readings2 assignments

9 videosTotal 55 minutes

Module 2 | Overview 1 minute
Meet the Panelists: Insights from the Experts7 minutes
The Role of AI in Financial Planning and Advisory 11 minutes
Challenges in Implementing AI in Financial Services 9 minutes
Introduction to Income Lab and AI in Retirement Planning6 minutes
Beyond Monte Carlo: Advanced Retirement Planning with AI8 minutes
Opportunities and Challenges in Financial Planning with AI10 minutes
Meet Your Client: Challenges and Opportunities4 minutes
Module 2 | Wrap-up1 minute

4 readingsTotal 35 minutes

Meet the Experts5 minutes
Advanced AI Tools and Practical Insights in Wealth Management10 minutes
Reliable Financial Advisers: Learners Guide10 minutes
Reliable Financial Advisers: Case Study Review10 minutes

2 assignmentsTotal 60 minutes

Reliable Financial Advisers: Assisting the Client30 minutes
Module 2 | Knowledge Check30 minutes

In our final module, we're looking ahead to the future of AI in wealth management. You'll explore cutting-edge applications of AI, and we'll tackle the big questions around legal and ethical considerations. How do we balance the power of AI with the need for human touch in financial advisory? What are the potential risks of AI, and how can we mitigate them? By the end of this week, you'll be equipped to navigate the future of AI in your practice, ensuring you stay ahead of the curve while maintaining ethical standards. After this module, you will be ready to complete the final assessment for the course and earn your Coursera certificate!

What's included

9 videos4 readings2 assignments

9 videosTotal 43 minutes

Module 3 | Overview 1 minute
AI in Client Meeting Transcriptions and Follow-Up2 minutes
The Future of AI in Wealth Management and Financial Planning4 minutes
Balancing AI Automation with Personal Touch in Financial Firms5 minutes
Legal and Ethical Considerations of AI in Financial Planning 5 minutes
Ethical Concerns and Challenges of AI in Information Integrity 13 minutes
Ethical Use of AI in Financial Advisory 11 minutes
Module 3 | Wrap-up1 minute
Course Wrap-up1 minute

4 readingsTotal 30 minutes

Meet the Experts5 minutes
Artificial Intelligence in Finance: A Comprehensive Review Through Bibliometric and Content Analysis10 minutes
Congratulations!5 minutes
Getting Your Course Certificate10 minutes