E171. How to Use AI as Your Financial Planning Partner (Not Replacement)

Nick Garofalo, CFP® candidate and founder of Openhanded Wealth, reveals how artificial intelligence is transforming financial planning without replacing human advisors. In this episode, Nick shares practical ways to use AI tools like ChatGPT as thinking partners, discusses private AI solutions for sensitive financial data, and explains why the human element remains crucial in financial advisory services.
Key Topics Covered:

Using AI as a brainstorming partner for complex financial scenarios
Private AI tools like Recurse Chat for secure data analysis
Why AI will enhance rather than replace financial advisors
The shocking reality of what's actually in your investment portfolio
Biblically responsible investing and values-based portfolio screening
Building a tech-enabled financial advisory practice from scratch
Essential compliance tools for financial professionals

Nick demonstrates how AI can help process scenarios, generate questions, and format notes while maintaining the personal touch essential for financial planning. He also shares his eye-opening discovery about unknowingly investing in companies that contradicted his values and how technology helped him align his portfolio with his principles.
This episode provides actionable insights for financial professionals wanting to integrate AI into their practice and anyone seeking better ways to manage personal finances using technology. Learn how to leverage AI as a powerful thinking partner rather than a replacement for human expertise.
About Nick Garofalo:
Nick is a CFP® candidate and founder of Openhanded Wealth, specializing in helping Christian individuals align their personal finances with their faith values. He combines traditional financial planning with cutting-edge technology solutions and biblically responsible investing approaches.
Connect with Nick:
Website: openhandedwealth.com
Free Resources: openhandedwealth.com/freebies
LinkedIn: Nick Garofalo
Currently accepting new clients
About Tech Your Business Podcast:
Hosted by Peter Banigo of Target ICT, this podcast helps business owners leverage technology for growth through practical insights and expert interviews.
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