According to Forbes, Sophia Duffy—an associate professor at The American College of Financial Services and director of their Tax Planning Certified Professional Program—believes AI is fundamentally reshaping financial advisory and tax professions. She’s been teaching estate planning, small business planning, and taxation for 13 years while publishing research on AI’s impact on financial services. Duffy acknowledges AI’s growing prevalence in performing certain professional tasks but argues it won’t make human advisors and CPAs extinct. Instead, she predicts their roles will look “very different from what it is today” as technology accelerates change faster than legal protections can keep up.
AI Won’t Replace Advisors
Here’s the thing about AI in professional services—it’s really good at specific tasks, but it’s not great at the holistic judgment that financial planning requires. Duffy makes this crucial distinction: AI can handle certain aspects of the work, but it can’t replace the complete advisor-client relationship. And that’s the key insight many people miss when they panic about automation. The human element—understanding someone’s life goals, fears, and behavioral biases—remains firmly in the human domain. Basically, AI becomes another tool in the professional’s toolkit rather than their replacement.
The Talent Gap Problem
What’s really concerning is the growing disconnect Duffy identifies. Young people aren’t entering tax and financial planning careers because they’re worried AI will make those jobs irrelevant. But here’s the irony—we actually need more professionals, not fewer. The field is facing a potential talent crisis precisely when technology is creating more complex planning scenarios. It’s a classic case of perception not matching reality. The profession needs to communicate better about what these careers will actually look like in the AI era.
Legal Protections Lagging
Duffy’s research focuses on consumer protection in AI-driven financial services, and she’s spotted a major challenge. The law just can’t keep up with how fast AI is evolving. We’re building these incredibly sophisticated tools, but the legal framework to protect people from their potential risks? That’s moving at a much slower pace. This creates uncertainty for both professionals and consumers. Who’s liable when an AI system gives bad advice? What happens when algorithms introduce bias into financial decisions? These are the questions keeping legal and financial experts up at night.
The Human Advantage
Duffy’s perspective is particularly valuable because she’s both a practitioner and educator. As a CPA and Accredited Estate Planner who also directs a certification program, she sees the entire ecosystem. Her advice about not making decisions based on ego applies perfectly here too. Just because we can automate something doesn’t mean we should—especially when it comes to people’s financial futures. The professionals who will thrive are those who learn to work with AI rather than against it, using technology to handle routine tasks while focusing their human judgment on the complex, personal aspects of financial planning. You can learn more about Sophia Duffy’s work at The American College of Financial Services.
