The article discusses the challenges and opportunities of integrating large language models (LLMs) into financial advice, focusing on the need for domain expertise, trustworthiness, and regulatory compliance. It highlights the potential of LLMs to democratize financial planning but also raises concerns about their accuracy, biases, and ethical implications. The article proposes a research agenda to address these challenges and improve generative AI in financial applications. It also explores the historical development of LLMs, their current capabilities, and future directions, emphasizing the importance of specialization, data, and compute in advancing LLMs. The article further examines the coevolution of finance and technology, noting the slow adoption of LLMs in the financial sector due to data limitations and regulatory challenges. It discusses the role of financial advisors, the ethical responsibilities of financial advisors, and the rise of robo-advisors in the financial industry. The article concludes that while LLMs have the potential to transform financial services, their deployment requires careful consideration of ethical, regulatory, and technical challenges.The article discusses the challenges and opportunities of integrating large language models (LLMs) into financial advice, focusing on the need for domain expertise, trustworthiness, and regulatory compliance. It highlights the potential of LLMs to democratize financial planning but also raises concerns about their accuracy, biases, and ethical implications. The article proposes a research agenda to address these challenges and improve generative AI in financial applications. It also explores the historical development of LLMs, their current capabilities, and future directions, emphasizing the importance of specialization, data, and compute in advancing LLMs. The article further examines the coevolution of finance and technology, noting the slow adoption of LLMs in the financial sector due to data limitations and regulatory challenges. It discusses the role of financial advisors, the ethical responsibilities of financial advisors, and the rise of robo-advisors in the financial industry. The article concludes that while LLMs have the potential to transform financial services, their deployment requires careful consideration of ethical, regulatory, and technical challenges.