AI — A Financial Advisor’s Friend
Good to Know
AI can be a competitive advantage for savvy financial advisors. While its potential applications for financial advisors are yet to be fully realized, here are just 6 strategies to consider.
- Contact more clients— AI can assist in making your client communications more frequent, targeted, and meaningful. For example, AI can manage client “touches” through scheduling meetings, answering frequently asked questions, and providing updates on financial news or portfolio reviews.
- Build more meaningful content into your client communications— How will recent Social Security proposals and DOGE impact Social Security planning? This is only one example of how you can use AI to quickly gain the expertise to stay abreast of market trends, regulatory changes, and more to inform planning strategies.
- Showcase your professionalism— Use AI to present professional, crisp and clear client communications. Examples include drafting or editing blogs, posts, client reports, and more.
- Onboarding new clients — Let’s face it, clients can be financially savvy or have had little to no exposure to financial strategies. AIcan tailor the onboarding process to each client’s financial acumen and experience.
- Reduce Human Error —Routine administrative tasks like data entry can be automated through AI and, as a bonus, potentially reduce human error.
- Help You Provide Personalized Advice — While AI can’t read your client’s body language or assess other non-verbal cues during a face-to-face meeting, it can model scenarios and alternate scenarios for you based on your client’s personal and financial circumstances.
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The material contained in this article is to raise awareness—it is informational, general in nature and does not constitute financial advice. It should not be relied upon or used without consulting a credentialed financial professional to consider your specific circumstances. This communication was published on the date specified and may not include any future changes in the topics, laws, rules or regulations covered.
