Don’t Ask ChatGPT For Financial Product Recommendations

Don’t Ask ChatGPT For Financial Product Recommendations

ChatGPT is a powerful artificial intelligence tool that can generate text on almost any topic. It can write stories, poems, code, and even financial advice. But should you trust ChatGPT for your personal finance decisions? The answer is no, and here's why.

ChatGPT is not a financial expert

ChatGPT is not a human financial advisor, nor is it a certified financial planner. It does not have any credentials, qualifications, or experience in the field of finance. It does not know your personal situation, goals, risk tolerance, or preferences. It cannot tailor its recommendations to your specific needs or circumstances.

ChatGPT is simply a computer program that learns from the data it is fed. It does not understand the meaning, context, or implications of what it writes. It does not verify the accuracy, relevance, or timeliness of the information it uses. It does not follow any ethical standards or regulations that govern financial advice.

ChatGPT may sound convincing and confident in its responses, but that does not mean they are correct or appropriate. In fact, ChatGPT may give you misleading, outdated, incomplete, or even harmful advice that could cost you money or jeopardize your financial future.

ChatGPT is not reliable or consistent

ChatGPT is not a reliable source of financial product recommendations. It may give you different answers depending on how you phrase your question, when you ask it, or what data it has access to. It may contradict itself or change its mind without explanation. It may ignore important factors or details that affect your decision.

ChatGPT is also not consistent in its quality or performance. It may produce coherent and reasonable responses at times, but it may also generate nonsensical, irrelevant, or offensive text at other times. It may make factual errors, logical fallacies, or grammatical mistakes that undermine its credibility and usefulness.

ChatGPT is not a tool that you can rely on for making important financial decisions. It may confuse you more than help you. It may lead you to make wrong choices or miss better opportunities. It may expose you to unnecessary risks or losses.

ChatGPT is not accountable or responsible

ChatGPT is not accountable or responsible for the financial product recommendations it gives you. It does not care about the consequences of its advice or the impact it has on your life. It does not follow up with you or monitor your progress. It does not offer any support, guidance, or feedback.

ChatGPT is also not liable for any damages or losses that may result from its advice. It does not offer any guarantees, warranties, or refunds. It does not have any insurance, compensation, or recourse mechanisms. It does not have any legal obligations or protections.

ChatGPT is not a service that you can trust or depend on for your financial well-being. It does not have your best interests at heart. It does not have any skin in the game. It does not have any accountability or responsibility for its actions.


ChatGPT is an impressive and innovative technology that can generate text on various topics and domains. However, it is not a suitable source of financial product recommendations for consumers who want to make informed and prudent decisions about their money.

ChatGPT is not a financial expert who can provide personalized and professional advice based on your goals and situation. ChatGPT is not a reliable or consistent tool that can offer accurate and relevant information based on current and comprehensive data. ChatGPT is not an accountable or responsible service that can ensure satisfactory and beneficial outcomes based on ethical and legal standards.

If you want to get financial product recommendations that are trustworthy and helpful, you should consult a qualified human financial advisor who can understand your needs, offer you options, and support you throughout your journey.

Source :
(1) Don’t Ask ChatGPT For Financial Product Recommendations - Forbes.
(2) ChatGPT Won’t Replace Financial Advisors Yet. Here’s Why.
(3) I Tried Asking ChatGPT to Help Me Invest So You Don't Have to.