This week, Jack Sharry talks with Michael Liersch, Chief Planning Officer at Edelman Financial Engines. Michael acts as the production arm at Edelman. He leads the firm's strategic agenda around the convergence of financial planning, advice, technology, operations, investment solutions, and user experience. With a distinguished career spanning academia and financial services, Michael is also known for integrating behavioral insights into financial strategy.

Michael talks with Jack about how artificial intelligence and automation are reshaping financial advice, not as a replacement for humans, but as a force multiplier for listening, building trust, and improving outcomes. He also discusses the phases of AI integration, the risks of "over-AI-ing" the client experience, and his vision for a future in which advice itself, rather than products, is the industry's core value proposition.

In this episode:

(00:00) - Intro
(02:18) - Michael's role at Edelman Financial Engine
(04:04) - Michael's psychological perspective on AI
(08:51) - Edelman's practical application of AI
(15:55) - How Edelman uses AI at scale
(21:49) - Protecting clients from “over-AI-ing”
(25:30) - Michael's outlook on the future of AI in financial services
(29:54) - Michael's goal for the financial industry
(34:37) - Michael's interests outside of work

Quotes

"We are in a truly new and unique era, recognizing that machines, you can call that AI, and humans can complement each other." ~ Michael Liersch

"What's interesting about the machine is that it doesn't really have any of its own feelings. But it really does a great job of giving itself entirely to the human and achieving a level of precision that humans find challenging." ~ Michael Liersch

"I really want to move the financial industry toward having advice be the actual product." ~ Michael Liersch

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Why the Future of Financial Advice Is Human-Led and AI-Enabled with Michael Liersch