Tadikonda said the roles of professionals will evolve, but AI will not replace them. “The value of a human touch in evaluating options and making big life decisions will not go away,” she said. Instead, Tadikonda believes new technology will ultimately enable financial professionals to serve their clients in more holistic and personal ways. She encourages them to incorporate AI into their day-to-day while maintaining their role as trusted financial professionals. “The best strategy is to experiment and learn how the tech works,” Tadikonda said. “Over time, you will find ways to continue to provide the human touch while expanding your reach, removing administrative burdens and bringing fresh insights to your clients.”Financial professionals looking to enhance their practice by adding AI capabilities will do so from a position of strength. Nearly two-thirds of respondents (64%) said consultations with financial professionals are “successful” or “extremely successful,” and the vast majority gave them high marks when it came to integrity (90%) and expertise (89%).
Eighty-nine percent of those surveyed expressed a positive outlook on technology's role in improving retirement planning, and many said it has helped them stay connected with family and friends (77%), increased their awareness of investment opportunities for retirement (49%) and provided insights and ideas for retirement lifestyle (42%).“I am encouraged by this as it enables more sophisticated understanding and management of their finances to support them in achieving their goals in retirement,” said Rebecca Tadikonda, executive vice president of strategy and innovation at Athene.Their enthusiasm may be a result of the increased usability of the latest AI services. Shawn Swaner, Athene’s chief technology officer, said, “Generative AI tools offer a more nuanced and personal response than websites because the retiree can have an ongoing dialogue with the AI tool.”
Swaner said paid-for AI tools may provide better stewardship
of user data. “Advice sites, calculators and news sites all harvest user information. Purchasing a user license of common generative AI tools provides stronger end-user privacy than free tools on
most websites.”Seventy percent of those we surveyed are concerned about their passwords and PINs being compromised. Hackers are known to use AI-powered tools that can enhance their ability to crack simpler passwords. To guard against this, people may, for example, use password manager software that creates and remembers a different complex password for every app or website.The research also revealed various concerns about how technology could impact financial security, from concerns over misinformation and biased advice (30%) to not having a backup plan if technology fails (21%).
“While the adoption of technology by retirees is a positive and impactful trend, it has not lessened the importance of financial professionals in helping retirees optimize their retirement,” said Tadikonda.Athene sees the pivotal role of financial professionals continuing, as people experiment to find the right mix of tools and personal consultations to fit their style and achieve their retirement goals.
Disclosure: INVESTMENT AND INSURANCE PRODUCTS ARE: • NOT FDIC INSURED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • NOT A DEPOSIT OR OTHER OBLIGATION OF, OR GUARANTEED BY, THE BANK OR ANY OF ITS AFFILIATES • SUBJECT TO INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED This material is a general description intended for informational and educational purposes. Athene Annuity and Life Company (61689), headquartered in West Des Moines, Iowa, and issuing annuities in 49 states (excluding NY) and in D.C., and Athene Annuity & Life Assurance Company of New York (68039), headquartered in Pearl River, New York, and issuing annuities in New York, are not undertaking to provide investment advice for any individual or in any individual situation, and therefore nothing in this should be read as investment advice. Please reach out to your financial professional if you have any questions about Athene products or their features. The term “financial professional” is not intended to imply engagement in an advisory business with compensation unrelated to sales. Financial professionals will be paid a commission on the sale of an Athene annuity.
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