Artificial Intelligence in Wealth Management

Artificial Intelligence in Wealth Management

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

Instructor: Dr. Craig Lemoine

Access provided by Chula Engineering

1,563 already enrolled

3 modules

Gain insight into a topic and learn the fundamentals.

11 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.

11 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

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Assessments

6 assignments

Taught in English

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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.

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 videos Total 80 minutes

Course Overview 1 minute
Meet Your Instructor | Craig Lemoine 2 minutes
Module 1 | Overview 1 minute
Introduction to Foundations of AI in Financial Services 3 minutes
Categories of AI 3 minutes
What AI is and is not 10 minutes
Guardrails around AI in financial planning and evolution 8 minutes
A Profession Evolving 4 minutes
Conclusion to Foundations of AI in Financial Services 2 minutes
Understanding AI in Financial Risk Management 7 minutes
AI in Financial Planning: Beyond Basic Predictions 4 minutes
Differentiating AI from Advanced Statistical Methods 4 minutes
The Importance of Integration in Fintech 6 minutes
The Evolving Role of Technology in Financial Advisory 5 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-up 1 minute

4 readings Total 35 minutes

Syllabus 10 minutes
Updating Your Profile 10 minutes
Meet the Experts 5 minutes
AI in Wealth Management - Transforming Personal Finance for the Future 10 minutes

2 assignments Total 60 minutes

Module 1 | Knowledge Check 30 minutes
Orientation Quiz 30 minutes

1 discussion prompt Total 10 minutes

Getting to Know Your Classmates 10 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 videos Total 55 minutes

Module 2 | Overview 1 minute
Meet the Panelists: Insights from the Experts 7 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 Planning 6 minutes
Beyond Monte Carlo: Advanced Retirement Planning with AI 8 minutes
Opportunities and Challenges in Financial Planning with AI 10 minutes
Meet Your Client: Challenges and Opportunities 4 minutes
Module 2 | Wrap-up 1 minute

4 readings Total 35 minutes

Meet the Experts 5 minutes
Advanced AI Tools and Practical Insights in Wealth Management 10 minutes
Reliable Financial Advisers: Learners Guide 10 minutes
Reliable Financial Advisers: Case Study Review 10 minutes

2 assignments Total 60 minutes

Reliable Financial Advisers: Assisting the Client 30 minutes
Module 2 | Knowledge Check 30 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 videos Total 43 minutes

Module 3 | Overview 1 minute
AI in Client Meeting Transcriptions and Follow-Up 2 minutes
The Future of AI in Wealth Management and Financial Planning 4 minutes
Balancing AI Automation with Personal Touch in Financial Firms 5 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-up 1 minute
Course Wrap-up 1 minute

4 readings Total 30 minutes

Meet the Experts 5 minutes
Artificial Intelligence in Finance: A Comprehensive Review Through Bibliometric and Content Analysis 10 minutes
Congratulations! 5 minutes
Getting Your Course Certificate 10 minutes