June 24, 2025

Episode 184: Can Tech Replace Your Financial Advisor?

52 minutes

In this episode of Retire with Style, Wade Pfau and Alex Murguia talk with John Manganaro, senior reporter at ThinkAdvisor, about the shifting landscape of retirement income planning. They explore how technology is reshaping financial planning, the growing need for holistic advice, and the challenges both advisors and consumers face in finding effective tools. John offers insights into the future of financial software, the value of human advisors, and the behavioral side of planning-highlighting the importance of addressing both financial and lifestyle goals in retirement.

Takeaways

Technology is expanding what financial advisors can do.

Holistic advice is becoming essential for effective retirement planning.

An aging population is driving greater demand for financial planning.

Advisors are increasingly using advanced tools for tax-efficient retirement income strategies.

The advisor’s role remains critical in implementing and personalizing financial plans.

Behavioral factors are just as important as the numbers in financial planning.

More new advisors are focusing on serving middle-class clients.

AI may help democratize access to quality financial advice.

New software solutions are reshaping how the industry delivers financial planning.

Many next-generation advisors are driven by a desire to help others, not just manage wealth.

Chapters

00:00 Introduction to Retirement Income Planning

03:00 The Role of Technology in Financial Planning

06:03 Understanding Holistic Financial Advice

09:05 The Evolution of Financial Planning Tools

11:54 Challenges in Accessing Financial Advice

14:57 The Future of Financial Software Solutions

25:56 Exploring Social Security Strategies

28:07 Preparing for Retirement: Lifestyle Considerations

30:00 Behavioral Challenges in Financial Planning

33:00 The Evolution of Financial Software

39:07 The Role of AI in Financial Advice

42:57 The New Wave of Financial Advisors

Links

Upcoming Retirement Researcher Webinar: What’s Involved When Working With an Advisor. Join Jason Rizkallah and Brian Bass from McLean Asset Management on Wednesday, June 25th at 1PM ET for a FREE webinar exploring how to evaluate and work with a financial advisor. Register now at retirewithstyle.com/podcast.

Explore the New RetireWithStyle.com! We’ve launched a brand-new home for the podcast! Visit RetireWithStyle.com to catch up on all our latest episodes, explore topics by category, and send us your questions or ideas for future episodes. If there’s something you’ve been wondering about retirement, we want to hear it!

The Retirement Planning Guidebook: 2nd Edition has just been updated for 2025! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/

This episode is sponsored by McLean Asset Management. Visit https://www.mcleanam.com/retirement-income-planning-llm/ to download McLean’s free eBook, “Retirement Income Planning”

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By Wade Pfau & Alex Murguia

3.9

153153 ratings