Will Artificial Intelligence Replace Financial Advisors? My Thoughts A Year Later…

I have been using ChatGPT since the very first day it was released to the public: November 30, 2022.  At the time, I said that financial advisors who use artificial intelligence will run laps around financial advisors who don't. And yet… more than a year later, most financial advisors didn't listen and still aren't using ChatGPT.  Why? Well, most financial advisors suffer from what Charlie Munger called "mental bias." This disease is so strong in the financial advisor industry that a financial advisor still in college but who isn't afraid of AI can run laps around you as soon as they graduate.  After using AI for more than 12 months, I've also discovered what it's best—and worst—at.  In this episode, you'll discover how to use AI to transform your financial advising business. And you'll get a much-needed reminder that it's time to start using AI.  Listen now.  Show highlights include: A cool way to use AI that has absolutely nothing to do with financial advising or marketing but will improve the quality of your life (1:43)  Why trying to do too many marketing tactics scares away your best clients (5:50)  The insidious "mental bias" most financial advisors have that keeps you stuck in mediocrity (6:46)  How to quickly save at least $20,000 per year by simply using AI (8:39)  Why simply paying more attention to your money can drown you in spoils (9:24)  How using ChatGPT to edit your copy makes it less persuasive than the original (even if you're not a copywriter) (11:51)  A simple little ChatGPT trick to improve your writing without sacrificing your time or persuasion (12:40) The wrong way to prompt ChatGPT to do your bidding… and the best way to prompt ChatGPT to do your bidding (16:15)  I even wrote a little PDF called how financial advisors can get clients with artificial intelligence. If you want to download that you can grab it at the advisor coach.com/ai.  83% of financial advisors make plans for their clients, but don't make a plan for their own business. Isn't that wild? If you're one of the 83% without a marketing plan, I created one for you. Get it here: https://TheAdvisorCoach.com/marketing-plan   Go to https://TheAdvisorCoach.com/Coaching and pick up your free 90 minute download called "5 Keys to Success for Financial Advisors" when you join The James Pollard Inner Circle.