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Is AI taking over financial advice? Not so fast! ? Join Sara Grillo & Eric Negron today for the Truth Bomb as they break down how artificial intelligence is likely to impact the future of financial advising.
In this show, you’ll learn:
?Why AI won’t replace human advisors (it’s just a supercharged Google search!).
?How to ditch the complex jargon and connect with clients on their terms. ?
The biggest mistake advisors make in their marketing (hint: it involves a “dumpster fire”). ?
?How to answer “dumb questions” and build trust with your clients.
Don’t miss out on these valuable insights!
Transcript
We don’t want.
I think they want to be working with clients. I mean, but, Eric, this is a bigger question. Is that the advisor’s role, or should their role be talking to clients about what’s going on in their lives so that they could get a heads up on what the planning changes should be, changes to risk tolerance, et cetera.
I mean, it really depends on where you are in your career, right? If you’re just starting out or you’re under a couple of years, you’re everything. You’re the advisor. You’re the person that greets them. You’re the chief bottle washer. You’re the janitor. You serve the coffee. You do it all right, and you do everything within your business. And then as you evolve, if you do it right, then you do exactly what you said, sarah, you spend way more time trying to be in front of clients, not worrying about other things. But I still think, even if that’s the case, you still got to understand technology so that you can be more efficient. I think that’s just me. Mean, the biggest thing that everybody talks about, right, that’s going on in our industry is all this talk about artificial intelligence.
I’m going to be honest with you. We right now have a supercharged Google search. At the end of the day, the only AI that matters to anybody is advisor intelligence and collaboration and heart of connecting with one human being to another. It’s just a damn tool. What do you think about all this ruckus about AI disrupting advisors?
I don’t believe it. I think it’s nonsense.
The whole concept of AI or the whole thing.
No, I don’t believe it, because I write blogs for a living, for people, and I’ve seen some of the stuff that comes out, and I just end up having to rewrite it. We would be way better off if we had just passed over the whole thing to begin with. I don’t know when the market financial advisor marketing already looks like it was written by a robot. You get advisors hire me to write the blog, and then I’ll say, okay, what do you want to write the blog about? What are the main points of Roth conversion? And they’ll say, I don’t know, but you should go check out my five competitors who have written blogs on this recently, and that’s who they learn it from. You understand? So I feel like we’re already doing AI.
Yeah, I feel like the reality of it is, you talked about AI, you talked about marketing. I think most advisors marketing is a dumpster fire of garbage.
I agree with.
So it is so bad. There’s been no client. When clients go to Google, they ask simple terms like, how do I set up a Roth Ira? What are the tax consequences of x?
No, but, bro, they wouldn’t even ask it like that.
Yeah.
What tax do I pay when I retire?
Yeah, exactly.
It doesn’t even make sense. Right? How do I retire from Procter and Gamble? Or not even that. It’s not even the complex questions like, what’s the best investment for the Procter and Gamble 401k plan? Or, like, what are the expenses, average expenses in the proctoring? No. How do I log on to my Procter and gamble 401k? Like, number one, Google search? Okay. You understand?
Yeah, I get it. I think that as advisors, we really need to bring down the level of our sophistication. We live in an industry of jargon, and we think that we’re smarter than everybody else because we took some security exams or we took the CFP, and we come out, we want to talk in these complex terms. And I don’t know if you’ve listened to some of these people, you’re like, what the hell did you just say? It’s like going to a foreign land and you’re speaking one language, they’re speaking another, and people are just getting agitated because they can’t understand.
Yeah. But I think it’s natural for a lot of people that do that in any profession. With my daily newsletter, I started commenting not on opinion stuff like, how do you be more ethical and transparent in your right? I started with, like, how do you log on to Google Analytics? That would be an example of one of the questions I would answer. And I just answer these questions on a daily basis. These little nuggets. And people are, like, eating this stuff for breakfast. People are, like, tuning in every day. I get, like, five. I thought I was being so smart. I think there should be a rule. If it makes you sound smart, it’s not good marketing.
Yeah.
If it makes you look and sound like you’re dumb, it’s a dumb question. Then it’s good marketing, because I’m telling you, I literally get, like, two or three emails a day from people that are like, you know, I never realized that there are two different types of pages on LinkedIn, my personal page and my business page. I never even realized what the difference was. So you know what I’m saying? Like.
