Maryann Selfe: Why AI Cannot Replace Human Investment Judgment

With over 20 years in institutional investing, including a two-decade tenure at Credit Suisse, Selfe views AI as a powerful force for productivity rather than a substitute for professional counsel. At lean firms like her own, the technology accelerates research and strategy preparation, enabling small teams to manage workloads that previously demanded vast resources. By automating the assembly of market commentary and house views, AI grants advisors additional time to address specific client anxieties.

However, speed does not equate to expertise. Selfe emphasizes that professional value is found in applying experience to the outputs AI produces. At Calabar Capital, this takes the form of a strict oversight model: AI-generated material must be traceable to primary sources and subjected to rigorous human review. She likens the software to a junior intern whose work requires the endorsement of a senior colleague before it ever reaches a client. Ultimately, the industry must decide how to deploy the hours reclaimed through automation to genuinely enhance the quality of advice, a central theme in the forthcoming AI in Wealth Management research report produced with Arta Finance.