I’ll never forget how it felt to get a mortgage to buy my first house. Although I worked in banking and personally managed our mortgage business, it was nonetheless quite anxiety provoking. I had confidence in myself, but how would I pay back a loan that was more than twice my current income?  What if my career trajectory didn’t proceed as I envisioned? Did I overextend? What was the right mortgage for me? Should I buy down the interest rate by paying upfront points? What hidden closing costs could alter my carefully planned budget? I had so many questions and concerns. 

My decision wasn’t just a financial calculation. It was a deeply personal decision. And while I had access to plenty of tools and calculators, what I really needed was someone who could help me think through the “what ifs.” Someone who understood my situation walked me through the options and helped me feel confident in the path I was choosing. 

Financial Products Are Complex by Design

Many financial products, including mortgages, insurance, credit cards and investment vehicles, are complex by nature. They have to be. These products are built to perform a wide array of functions and must account for numerous scenarios, preferences, and risk profiles. That complexity is necessary to make them flexible and effective. 

But with complexity comes a burden. Customers are asked to make decisions that are both rational and deeply emotional. Digital tools can support the rational side, such as comparing rates or calculating payments. But they often fall short when it comes to building confidence.  

The Role of Human Advisors

This is where human advisors still matter. A good advisor doesn’t just explain the product. They understand the person. They can sense hesitation, ask the right questions, and help customers think through contingencies. They bring empathy, experience, and reassurance, especially in moments that carry emotional weight. 

Looking back on my own experience, what I needed most wasn’t just information. I needed trust and empathy. I had to weigh several options, each with its own trade-offs, and think through how they might play out in different life scenarios. It wasn’t just about interest rates or repayment terms. It was about feeling confident in a major financial decision. And it was a person, not a tool, who helped me work through those questions and reach that point of confidence. 

AI Enablement vs. Autonomy

AI has a role to play. It can support advisors with better insights, faster analysis, and more personalized recommendations. But it is not ready to replace the human connection, especially in high-stakes decisions. 

Customers are generally comfortable when their advisor uses AI tools to support decision-making. What they are not ready for is a fully autonomous experience where the human is removed from the process. In emotionally charged or complex financial decisions, people want to deal with a human being. 

There is a meaningful difference between AI enablement and full automation. Automation is fine, even preferred, for simple transactions like checking balances, confirming due dates and reviewing recent transactions. But in sensitive scenarios like taking out a mortgage or buying the right insurance coverage at the right price, customers value empathy, real-world understanding, and the ability to talk through contingencies. These are things digital tools alone cannot yet provide. The human element remains essential. 

Final Thought

Financial institutions that get this balance right, combining AI’s capabilities with human empathy, will be the ones that earn trust. Because at the end of the day, financial decisions are not just about logic. They are about life. And that is something only people can truly understand.