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A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
Even high-net-worth clients who can afford top-notch advisors are asking artificial intelligence chatbots like Claude for portfolio recommendations and tax advice, wealth management leaders told CNBC.Â
“My personal opinion is that ChatGPT is the single largest investment advisor in the world right now,” said Matthew Fleissig, CEO and cofounder of Pathstone, a registered investor advisory with $185 billion in assets.
Asking AI for a second opinion can help clients come up with informed questions and have deeper conversations with their financial advisors, according to firm leaders. That said, the practice comes with risks, such as getting incorrect advice or having personal information…
